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BLS E-Services IPO

As a top provider of technology-enabled digital services, BLS E-Services provides major Indian banks with (i) Business Correspondents services, (ii) Assisted E-services, and (iii) E-Governance Services at the local level. The organization offers access points for the delivery of vital public utility services, social welfare programs, healthcare, banking, financial, educational, and agricultural services to both businesses and governments (B2B) and governments (G2C) through its extensive network. It also provides a wide range of business-to-consumer (B2C) services to residents in rural, semi-urban, urban, and distant places.

A division of BLS International Services, BLS E-Services is focused on providing state and local governments in India and overseas with a range of citizen services, including passport, visa, and consular services.
As of 31 March 2023, BLS E-Services boasts a network of 92,427 BLS Touchpoints and 402 BLS Stores. As of 30 June 2023, BLS E-Services employs a total of 3,071 individuals, which includes 2,413 contract employees.

BLS E-Services IPO Details

Signature Global IPO Details
BLS E-Services IPO Dates
30 Jan - 1 Feb 2024
BLS E-Services Issue Price
INR 129 – 135 per share (Shareholder Discount – INR 7 per share)
Fresh issue
23,030,000 shares (INR 297.09 – 310.9 crore)
Offer For Sale
NIL
Total IPO Size
23,030,000 shares (INR 297.09 – 310.9 crore)
Minimum bid (size)
108 shares (INR 14,580)
Face Value
INR 10 per share
Retail Allocation
10%
Listing On
BSE, NSE

BLS E-Services Financial Performance

Signature Global Financial Performance

FY21

FY22

FY23

H1 FY 24

Revenue

64.49

96.70

243.06

156.18

Expenses

60.31

91.63

216.71

137.27

Net income

3.15

5.38

20.33

14.68

Margin (%)

4.88

5.56

8.36

9.40

Figures in INR Crore unless specified otherwise

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