BLS E-Services IPO Guidance
BLS E-SERVICES is a leading technology enabled digital service provider, providing (i) Business Correspondents services to major banks in India, (ii) Assisted E-services; and (iii) E-Governance Services at grass root levels in India. Through its robust network it provides access points for delivery of essential public utility services, social welfare schemes, healthcare, financial, educational, agricultural and banking services for governments (G2C) and businesses (B2B) alike in addition to a host of B2C services to citizens in urban, semi-urban, rural and remote areas. However the experts believe that the nature of business has limited life span. With advent of technology and internet penetration, the role of business correspondents will diminish in the years to come. 

Financials: The company has shown extra-ordinary rise in the topline of FY23(Rs. 246.24 from Rs.65.23 in FY21) and net profit of FY23 (Rs. 20.33Cr from Rs. 3.15 Cr in FY21). So sharp rise in the year just prior to the IPO raises eyebrows. In spite of such sharp rise in the bottomline, the shares are offered at very high PE multiple of 44.70.
IPO Size: The size of the IPO is very small eg. Rs. 310.91 Cr., so oversubscription is not an issue, yet the chances of allotment may be low.
Grey Market Fancy: Premium to Issue-price ratio is attractive, so you may take chance and apply. Do remember that many a times, the premium start declining, once the IPO close for subscription. Take your own decision. 

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BLS E-Services IPO Guidance