Five things to know about BLS E-Services IPO

Incorporated in 2016, BLS E-Services Limited provides services such as business correspondence, assisted e-services and e-governance services, including banking services on behalf of banks to people in urban, semi-urban, rural and remote areas.

The company offers these services through merchants, organised under two categories: BLS touchpoints and BLS stores. It generates revenue from monthly commissions, transaction-based commissions and registration fees.

In the fiscal year 2023, the revenue from operations rose 151% to ₹243.06 crore compared to ₹96.69 crore in FY22. Net profit surged over 278% YoY to ₹20.22 crore in the same period. Between FY21 and FY23, it saw a CAGR rise of 55% in its revenue from operations and 86% in its profit. Moreover, e-retail is expected to grow at a CAGR of 22%-25% between FY23 and FY25, which could benefit the company.

BLS E-Services plans to raise ₹310.91 crore through the IPO. The public offer is entirely a fresh issue of 2.3 crore shares. The price band for the issue has been fixed at ₹129-135 per share. Lot size for this IPO is 108 equity shares; investors can bid in multiples of 108.

Net proceeds from this IPO issue will be utilised to strengthen its technology infrastructure, fund initiatives for organic growth, and achieve inorganic growth through acquisitions and for general corporate purposes.

To know more and pre-apply for this IPO, click here