IPO Details

Bidding Dates

30 Jan '24 - 01 Feb '24

Minimum Investment

₹14,580 / 1 Lots ( 108 Shares )

Price Range

₹129 - ₹135

Maximum Investment

₹189,540 / 13 Lots ( 1404 Shares )

Retail Discount

Not Applicable

Issue Size

₹310.91 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Non-Institutional Investors  |   Retail Individual Investors  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Jan 30, 2024

IPO Close Date

Feb 1, 2024

Basis of Allotment

Feb 2, 2024

Initiation of Refunds

Feb 5, 2024

Credit of Shares to Demat

Feb 5, 2024

Listing Date

Feb 6, 2024

Cut-off time for UPI mandate confirmation

Feb 1, 2024

About Company

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:

  1. Strengthening our technology infrastructure to develop new capabilities and consolidating our existing platforms;
  2. Funding initiatives for organic growth by setting up BLS Stores;
  3. Achieving inorganic growth through acquisitions and
  4. General Corporate Purposes

How To Check the Allotment Status of BLS E-Services Limited’s IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • As such, Angel One will notify you of your IPO allotment status via push notification and email.

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


  1. The 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.

  2. 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.

  3. 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.


  1. The 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.

  2. The company takes fee and commission-based activities. Any changes in these fees or commissions may impact the company’s revenue.

  3. 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.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

BLS E-Services Ltd IPO FAQs

What is BLS E-Services Limited's IPO?

BLS E-Services Limited IPO is a fresh issue of up to ₹310.91 Crore. It is a book-building issue.  

When will BLS E-Services Limited's IPO be allotted?

The BLS E-Services Limited’s shares will be allotted on February 2, 2024.


When will BLS E-Services Limited's IPO open for subscription?

The IPO subscription window for BLS E-Services Limited will open on January 30, 2024.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for at least one lot, which is a size of 108 shares, with a sum of ₹14,580.

When will BLS E-Services Limited list on exchanges?

BLS E-Services Limited will be listed on BSE and NSE. The stock will be listed on February 6, 2024.

How do I check the allotment status of the BLS E-Services Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • As such, Angel One will notify you of your IPO allotment status via push notification and email.

What would be the listing gains on the BLS E-Services Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.


I have finished the application process for the BLS E-Services Limited IPO, but the funds still need to be debited. What is the reason?

The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you. 

How do I approve the UPI mandate request for BLS E-Services Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of BLS E-Services Limited using one PAN?

You can submit only one application using your PAN card.