The total Issue size of Equity Shares of face value ₹ 10 each comprises of fresh issue of up to 2,30,30,000 Equity Shares(excluding Pre-IPO placement undertaken of 11,00,000 equity shares).
The Anchor Investor Bidding Date shall be Monday, January 29, 2024. The Bid/Offer will open on Tuesday, January 30, 2024 for subscription and close on Thursday, February 1, 2024.
The Price Band of the Issue has been fixed at ₹ 129 to ₹ 135per Equity Share. Bids can be made for a minimum of 108Equity Shares and in multiples of 108 Equity Shares thereafter.
The Issue includes a reservation up to 23,03,000 Equity Shares aggregating up to ₹ [●] Lakhs, for subscription by BLS International shareholders ( The “BLS International Shareholders Reservation Portion”). Our company in consultation with the BRLM, has offered a discount of ₹ 7 per Equity Share BLS International shareholders reservation portion (The “Shareholder Discount”).
The Company proposes to utilise net proceeds from fresh issue of Equity Shares to strengthening its technology infrastructure to develop new capabilities and consolidating its existing platforms; funding initiatives for organic growth by setting up of BLS Stores; achieving inorganic growth through acquisitions; and general Corporate Purposes (the “Objects of Issue”).
This Equity Shares are being offered through the red herring prospectus of the Company dated January 23, 2024 filed with the Registrar of Companies, National Capital Territory of Delhi and Haryana (“ROC”).
The Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”). For the purpose of the issue, National Stock Exchange of India Limited shall be the designated stock exchange.
This Issue is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”, and such portion, the “QIB Portion”), provided that our Company in consultation with the BRLM, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”). One-third of the Anchor Investor Portion shall be reserved for the domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”) in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than the Anchor Investor Portion) (the “Net QIB Portion”).
Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.
Further, not more than 15% of the Issue shall be available for allocation to Non-Institutional Investors (out of which one-third of the portion available to Non-Institutional Bidders shall be reserved for Bidders with an application size of more than ₹2.00 lakhs and up to ₹10.00 lakhs and two-third shall be reserved for Bidders with application size of more than ₹10.00 lakhs, provided that the unsubscribed portion in either of the aforementioned sub-categories may be allocated to Bidders in the other sub-category)
And not more than 10% of the Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Issue Price. All Bidders, other than Anchor Investors, are required to participate in the Issue by mandatorily utilising the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA Account (as defined hereinafter) and UPI ID in case of UPI Bidders (as defined hereinafter), as applicable, pursuant to which their corresponding Bid Amounts which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Bank(s) under the UPI Mechanism, as the case may be, to the extent of their respective Bid Amounts. Anchor Investors are not permitted to participate in the Issue through the ASBA process. Further, up to [●] Equity Shares, aggregating up to ₹ [●] lakhs shall be made available for allocation on a proportionate basis only to BLS International Shareholders Bidding in the BLS International Shareholders Reservation Portion, subject to valid Bids being received at or above the Issue Price. For further details, please see section titled “Issue Procedure” on page 414.
Unistone Capital Private Limited is the sole Book Running Lead Managers to the Issue (“BRLMs”).
All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the RHP.
BLS E-Services Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (“Issue”) and has filed a Red Herring Prospectus (“RHP”) with the Registrar of Companies, Delhi and Haryana at New Delhi (“RoC”). The RHP is available on the website of the Company at www.blseservices.com, SEBI at www.sebi.gov.in, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com and the respective websites of the book running lead manager to the Issue, Unistone Capital Private Limited at www.unistonecapital.com. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP filed with the RoC, including the section titled “Risk Factors” on page 40 of the RHP. Potential investors should not rely on the DRHP. Investors should instead rely on the information disclosed in the RHP.
The Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States absent registration under the U.S. Securities Act or except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold (a) in the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act) pursuant to Section 4(a) of the U.S. Securities Act, and (b) outside the United States in offshore transactions in compliance with Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.