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BLS E-Services Limited IPO Set to Open for Subscription

Before Market Opens
30 January, 2024
  • IPO Details: The IPO size is ₹310.91 crores, comprising entirely of a fresh issue with no offer for sale component. The price band is set at ₹129 to ₹135 per share.
  • Company Profile: BLS E-Services Limited, established in April 2016, operates as a digital service provider in India, offering Business Correspondence services to banks, Assisted E-Services, and E-Governance Services. It serves as a technology-enabled platform providing various citizen services globally.
  • Financial Performance: The company has shown significant growth with revenues increasing by 150.31% and profit after tax (PAT) rising by 277.94% in the fiscal year ending March 31, 2023, compared to the previous year.
  • Market Position: BLS E-Services stands out as the only listed company in its domain in India, and as of March 31, 2023, its merchant network has expanded to 92,427 locations.

Share Price Movement:

  • Grey Market Premium: As of the latest update, BLS E-Services IPO is witnessing a grey market premium of ₹155.

Competitor Performance and Industry Trends:

  • Competitor Analysis: Compared to its peer Emudhra Limited, BLS E-Services Limited has a lower Price-to-Earnings (P/E) ratio (44.31x for BLS E-Services vs. 56.27x for Emudhra).
  • Industry Outlook: The digital services sector, especially in e-governance and financial services, is expected to continue its growth trajectory, driven by increasing digitalization and government initiatives in India.

Investment Considerations:

  • The company has a diversified business model with low customer acquisition costs and a track record of successful acquisitions.
  • BLS E-Services has positive cash flows, low debt, and a net cash positive position as of September 30, 2023.
  • The IPO proceeds are intended for technology infrastructure enhancement, organic growth initiatives, and potential acquisitions.

Disclaimer:

Please note that this is not an investment recommendation. Investors are advised to conduct their own research and due diligence before making any investment decisions.

For more detailed information, you can refer to the Chittorgarh.com, Value Research Online, and IPO Watch.

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