BLS E-Services Limited operates as a technology-driven digital service provider, facilitating business correspondence services for major banks in India, offering assisted e-services, and providing e-governance services at grassroots levels.
The company's extensive network serves as access points for delivering essential public utility services, social welfare schemes, healthcare, financial, educational, agricultural, and banking services to governments (G2C) and businesses (B2B). Additionally, a range of B2C services is extended to citizens across urban, semi-urban, rural, and remote areas.
Merchants affiliated with BLS E-Services Limited fall into two categories: BLS Touchpoints and BLS Stores. All registered merchants, referred to as BLS Touchpoints, have access to multiple services provided by the company. BLS Stores, on the other hand, are branded establishments offering the entire suite of offerings, including select goods available for sampling. These goods, supplied by e-commerce players, can be ordered by consumers after experiencing them firsthand in the stores.
The company acts as a business correspondent, providing banking services through subsidiaries ZMPL and Starfin. The company also offers Assisted E-Services through BLS Touchpoints, earning revenue from various service charges. They facilitate e-governance Services, partnering with state governments for citizen-centric services through BLS Touchpoints. This includes services like certificates and registrations. An MOU with the National e-Governance Division enhances access to UMANG services on its digital platform.
As of September 30, 2023, BLS E-Services Limited boasts a network of 98,034 BLS Touchpoints, which includes 1,016 BLS Stores. This extensive presence ensures the delivery of digital and physical products and services in G2C, B2C, and B2B categories in areas where internet penetration is limited and citizens require assistance in accessing basic technology-enabled services.
BLS E-Services Limited IPO Details
BLS E-Services Limited IPO Date
The IPO of BLS E-Services Limited is open for subscription from January 30, 2024 to February 1, 2024.
BLS E-Services Limited IPO's Price Band
BLS E-Services Limited’s IPO is a fresh issue IPO of up to ₹310.91 crore. It is a book-building issue. The price range is set to ₹129 to ₹135 per share.
BLS E-Services Limited IPO’s Lot Size
The lot size for BLS E-Services Limited’s IPO is 108 shares with a minimum investment of ₹14,580.
BLS E-Services Limited IPO’s Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Strengthening our technology infrastructure to develop new capabilities and consolidating our existing platforms;
- Funding initiatives for organic growth by setting up BLS Stores;
- Achieving inorganic growth through acquisitions and
- General Corporate Purposes
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Contact Details of BLS E-Services Limited
Registered office: G-4B-1, Extension, Mohan Co-operative Indl. Estate Mathura Road, South Delhi, New Delhi –110044, India.
Phone: +91-11-45795002
E-mail: www.blseservices.com
Company Financials
| Particulars ( ₹ lakh ) | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|
| Total Income | 24,629.27 | 9,839.56 | 6,523.35 |
| EBITDA Margin | 14.73% | 8.76% | 8.39% |
| Profit After Tax (PAT) | 2,033.18 | 537.96 | 314.82 |
| PAT Margin | 8.36% | 5.56% | 4.88% |
| Total Borrowings | 0.00 | 876.05 | 1,101.57 |
| Cash & Cash Equivalents | 1,570.64 | 604.96 | 749.96 |
| Debt to Equity Ratio(x) | 0.05 | 1.01 | 1.14 |
| Return on Equity | 33.33% | 43.48% | 38.91% |
| Return on Capital Employed (RoCE) | 30.62% | 28.39% | 29.68% |
| Earning Per Share (EPS) in absolute ₹ | 3.02 | 0.89 | 0.52 |
Know before investing
Strengths
3The company's revenue from operations increased by 4 times from ₹6,448.72 lakh on March 31, 2021, to ₹24,306.07 lakh on March 31, 2023.
The company has increased its profit after tax by 545.82% from ₹314.82 lakh on March 31, 2021, to ₹2,033.18 lakh on March 31, 2023.
The company has entered into an agreement with the National e-Governance Division for agent-assisted delivery of a Unified Mobile Application for New-age Governance (UMANG) services into its digital platform.
Risks
3The company offers e-Governance services only in Uttar Pradesh, West Bengal and Punjab. Any adverse developments in these regions can impact the revenue of the company.
The company takes fee and commission-based activities. Any changes in these fees or commissions may impact the company’s revenue.
BLS E-Services Limited does not directly secure e-governance projects; they are awarded to its Corporate Promoter, BLS International Services Limited, and subsidiary BLS Kendras. The contracts focus on providing G2C services.
