Shareholders of BLS International are entitled to a discount of ₹7 per share on the IPO price of its subsidiary BLS E-Services, which opens on January 30, a stock exchange filing said.
BLS E-Services is a technology-enabled digital service provider offering business correspondence services to major Indian banks.
Key risk factors highlighted in the IPO include its reliance on a single customer for a majority of its revenue, being one of the largest PSU banks in the country. For the six months ended September 30, 2023, 59.75% of the Company's revenue came from its largest customer. For the 2023 financial year, this value was 59.47%.
Other risk factors include the risk of government concentration as e-governance services are offered only in Punjab, Uttar Pradesh and West Bengal and any adverse changes in conditions in these regions may impact the Company's business.
The IPO of BLS E-Services will be completed on February 1st.
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