BLS E-Services
MAINBOARD
Listed
Price Band
₹129 - ₹135
Lot Size
108 Shares
Issue Size
₹310.90 Cr
Fresh Issue
₹310.90 Cr
OFS
Nil (100% Fresh)
Registrar
KFin Technologies Limited
AI Sentiment Score
Listing Price
₹305.00
vs Issue: ₹135 (+125.93%)
📅 IPO Timeline
✓
Open
Jan 30, 2024
✓
Close
Feb 1, 2024
✓
Allotment
Feb 2, 2024
✓
Refund
Feb 5, 2024
✓
Demat
Feb 5, 2024
✓
Listing
Feb 6, 2024
📈 Grey Market Premium (GMP) Trendline
Daily consensus GMP movement (₹) recorded across market sources
✨ AI Analysis & Prediction
🔒 Final Reconciled Estimate
Locked post-listing with actual debut performance
BLS E-Services displays an established operational footprint with expanding revenue streams (66.3% CAGR) and a defensible value proposition.
💪 Strengths
- Demonstrated operational revenue trajectory with resilient top-line growth (66.3% CAGR).
- Established customer relationships and market position across target industry sectors.
- Sound operational capital returns with Return on Capital Employed (ROCE) at 16.4%.
⚠️ Weaknesses
- Exposure to input cost fluctuations and broader macroeconomic supply chain cycles.
- Working capital requirements to support continuous capacity expansion.
- Competitive landscape from both established incumbents and specialized regional players.
🚀 Opportunities
- Industry tailwinds from rising domestic capex and infrastructure spending.
- Operating leverage potential allowing margin expansion as manufacturing utilization rises.
- Geographic diversification and entry into higher-margin specialized product lines.
🛡️ Threats
- Sectoral regulatory shifts and evolving statutory compliance requirements.
- Aggressive pricing actions by domestic competitors impacting gross margins.
- Broader market equity volatility and liquidity fluctuations.
📊 Financial Overview & Growth Trajectory
Multi-year operational scale & net profitability trajectory
| Metric | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue (₹ Cr) | Rs 243.00 Cr | Rs 301.00 Cr | Rs 519.00 Cr | Rs 1,118.00 Cr |
| Net Profit / PAT (₹ Cr) | Rs 20.00 Cr | Rs 34.00 Cr | Rs 59.00 Cr | Rs 69.00 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs 33.00 Cr | Rs 42.00 Cr | Rs 60.00 Cr | Rs 75.00 Cr |
| Borrowings (₹ Cr) | Rs 5.00 Cr | Rs 7.00 Cr | Rs 7.00 Cr | Rs 6.00 Cr |
| Total Assets (₹ Cr) | Rs 179.00 Cr | Rs 510.00 Cr | Rs 704.00 Cr | Rs 762.00 Cr |
| ROE % | 0.00% | 0.00% | 0.00% | 0.00% |
| ROCE % | 16.40% | 16.40% | 16.40% | 16.40% |
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 |
Company P/E
50.5x
Industry P/E
58.1x
Debt/Equity
0.01
⚖️ Valuation Benchmark Range
🟢 Attractively Priced vs Industry Peers
Industry 58.1x
IPO 50.5x
0x (Deep Value)
78x (High Multiple)
📋 Live Subscription Status
QIB
123.30x
NII
305.27x
Retail
237.00x
Total
162.47x
🎯 Retail Allotment Probability
0.4% Odds
1 in 237.0 chance (~0.4% probability per PAN)
SEBI Rule: Under SEBI lottery allotment rules, applying for multiple lots under Retail does NOT increase your lottery odds. All valid retail applicants have identical 1-lot odds per PAN.
Updated: Sep 12, 2026 2:45 PM
💼 Issue Structure & Reservation Quota
Capital Structure
₹310.9 Cr
Issue Size
Fresh (100%)
Reservation Quota
100%
Allocation
QIB (50%)
NII (15%)
Retail (35%)
QIB
50.00%
Retail
35.00%
NII
15.00%
🔗 Important Links & Lead Managers
- SEBI Filings (DRHP)View on SEBI →
- SEBI Filings (RHP)View on SEBI →
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.