January 30, 2024 - February 1, 2024

BLS E-Services IPO Basis of Allotment


BLS E-SERVICES LIMITED

Our Company was incorporated in New Delhi, as 'BLS E-Services Private Limited', a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated April 12, 2016, issued by the Deputy Registrar of Comparjanies, Central Registration Centre, Thereafter, our Company was converted from a private limited company to a public limited company, pursuant to a resolution passed at the meeting of the Board of Diredois held on December 23,2022 and in the extraordinary general meeting of ourur Shareholders held on December 29,2022 , and consequently, the name of our Company was changed to 'BLS E-Seivices Limited', and a fresh certificate of incorporation dated April 10,2023, was issued by the Registrar of Companies, National Capital Territory of Delhi and Hary;ryana ('RoC') to our Company. For details of changes in the name and the registered office address of our Company, please see section titled "History and Corporate Structure of the Issuer" on page 246 of the Prospectus dated February 2,2024. India;

Corporate Identity Number: U74999DL2016PLC298207; Website: www.bbeservices.com
Registered Office: G-4B-1, Extension, Mohan Co-operative Indl. Estate Mathura Road, South Delhi, New Delhi-110044, India; Corporate Office: Plot no. 865, Udyog Vihar Phase V.Gurugram, Haryana-122016, Ini
Contact Person: Sanjay Kumar Rawat, Company Secretary and Compliance Officer; Telephone: +91-11-45795002; Email: cs@bbeservioes.com
THE COMMENCEMENT OF TRADING OF THE EQUITY SHARES OF OUR COMPANY ON THE STOCK EXCHANGES SHALL BE WITH EFFECT FROM TUESDAY, FEBRUARY 6, 2024 PURSUANT TO THE SEBI CIRCULAR NO. SEBI/HO/CFD/TPD1/CIR/P/2023/140 DATED AUGUST 09,2023.
OUR COMPANY IS REQUIRED TO LIST ON T+3 DAY (T BEING THE ISSUE CLOSING DATE).
OUR PROMOTERS: BLS INTERNATIONAL SERVICES LIMITED, DIWAKAR AGGARWAL AND SHIKHAR AGGARWAL

Our Company has filed the Prospectus with the RoC and the Equity Shares (as defined below) are proposed to be listed on the Main Board of BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE", and together with BSE,the "Stock Exchanges"), and the trading will commence on Tuesday, February 06, 2024.

BASIS OF ALLOTMENT

INITIAL PUBUC OFFERING OF 2,30,30,000 EQUITY SHARES OF FACE VALUE OF Rs10 EACH ("EQUITY SHARES") OF BLS E-SERVICES LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF Rs 135.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs 125.00 PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO Rs 30,929.29 LAKHS ("ISSUE"). THE ISSUE SHALL CONSTITUTE 25.35 % OF THE POSTISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

OUR COMPANY HAS UNDERTAKEN A PRE-IPO PLACEMENT BY WAY OF PRIVATE PLACEMENT OF 11,00,000 EQUITY SHARES FOR CASH AT A PRICE OF Rs125 PER EQUITY SHARE FOR AN AGGREGATING TO Rs1,375.00 LAKHS, IN CONSULTATION WITH THE BRLM, PURSUANT TO THE RESOLUTION OF THE BOARD DATED JANUARY 4, 2024. THE SIZE OF THE FRESH ISSUE OF 2,41,30,000 EQUITY SHARES HAS BEEN REDUCED BY 11,00,000 EQUITY SHARES PURSUANT TO THE PRE- IPO PLACEMENT, AND ACCORDINGLY, THE FRESH ISSUE SIZE IS 2,30,30,000 EQUITY SHARES.

THE ISSUE INCLUDES A RESERVATION OF 23,03,000 EQUITY SHARES AGGREGATING TO Rs 2,947.84 LAKHS, FOR SUBSCRIPTION BY BLS INTERNATIONAL SHAREHOLDERS (THE "BLS INTERNATIONAL SHAREHOLDERS RESERVATION PORTION"). OUR COMPANY IN CONSULTATION WITH THE BRLM, OFFERED A DISCOUNT OF 5.19 % OF THE ISSUE PRICETO BLS INTERNATIONAL SHAREHOLDERS BIDDING IN THE SHAREHOLDER RESERVATION PORTION ("SHAREHOLDER DISCOUNT"), IN ACCORDANCE WITH THESEBIICDR REGULATIONS. THE ISSUE LESS THE BLS INTERNATIONAL SHAREHOLDERS RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET ISSUE", AGGREGATING TO 2,07,27,000 EQUITY SHARES.

THE FACE VALUE OF THE EQUITY SHARE IS Rs10 EACH. THE ISSUE PRICE IS 13.50 TIMES THE FACE VALUE OF THE EQUITY SHARES.

"Our Company in consultation with the BRLM, have offered a discount of Rs 7 per Equity Share to BLS International Shareholders bidding in the BLS International Shareholders Reservation Portion.

ANCHOR INVESTOR ISSUE PRICE: Rs135.00 PER EQUITY SHARE OF FACE VALUE OF ^ 10 EACH. ISSUE PRICE: Rs135.00 PER EQUITY SHARE OF FACE VALUE OF Rs 10 EACH.
THE ISSUE PRICE IS 13.50 TIMES THE FACE VALUE OF THE EQUITY SHARES
RISKS TO INVESTORS

1. Business segment based risk: We predominantly undertake fee and commission based activities, in our business segments namely, Business Correspondents ("BC"), Assisted E-services and E-governance. Further, a substantial portion of the revenue is generated by BC business operated by our subsidiaries, ZMPL and Starfin for our banking partners. Our BC business contributed 66.05%, 61.02%, 22.23% and 27.84% of our total revenue from operations for the six months period ended September 30,2023, and the financial years ended March 31, 2023, March 31,2022 and March 31,2021, respectively. Hence, deterioration in the performance of our Subsidiaries may adversely affect our business operations.

2. Dependence on a single customer: We are dependent on, and derive a substantial portion of our revenue from, a single customer, one of the largest PSU Bank. In the six months period ended September 30,2023 and in Fiscal 2023, Fiscal 2022 and Fiscal 2021, our largest customer accounted for 59.75%, 59.47%, 14.89% and 27.27% respectively, of our revenue from operations. Cancellation of the agreement with our top customer could have a material adverse effect on our business, results of operations and financial condition.

3. Projects awarded to our Corporate Promoter: None of the e-govemance projects are awarded to our Company directly. All of our contracts with respect to E-Governance projects are awarded to our Corporate Promoter, BLS International Services Limited by governmental agencies for providing G2C services to the citizens and to BLS Kendras, our subsidiary for providing E- Govemance. As of September 30,2023,28.34% of our revenue generated from the contracts.

4. Limited Operating History: As a result of our limited operating history, we may not be able to compete successfully, and it may be difficult to evaluate our business and future operating results on the basis of our past performance.

5. Dependence on merchants and information technology: We significantly depend on our merchants and information technology ("IT") for our product and service distributions. Changes in our relationships with merchants, or adverse conditions, could impair their respective operations and therefore their ability to meet their obligations under our agreements. Any failure, disruption or weakness in our IT system, or breach of data, confidential information or data of our clients, customers and users of our services that may be misappropriated by our merchants or employees, cause us to breach our contractual obligations. This could adversely affect our operations and reputation.

6. Utilization of Net Proceeds: We are yet to place orders aggregating to approximately 55.72% of our Net Proceeds at upper price band for ourtechnology infrastructure and capital expenditure equipment. A substantial portion of the Net Proceeds is intended to be utilized for this purpose.

7. State Concentration Risk: We provide E-Governance Services only in the states of Punjab, Uttar Pradesh and West Bengal, and accordingly any adverse changes in the conditions affecting these regions can adversely affect our business, financial condition and results of operations.

8. Termination of master service agreement: In the past Punjab State e-Governance Society has terminated master service agreement with our Company.

9. Intellectual Property Rights: We presently do not own trademark or logo under which we currently operate and if third parties, including our current or future competitors are able to circumvent our protection measures which are put in place for the protection of trademark, logo and intellectual property and other proprietary rights, our business and reputation would be adversely affected.

10. Delay in payment of statutory dues: There have been instances of delay in filing of GST returns of the Company. We may be subject to regulatory actions and penalties for any such delays and our business, financial condition and reputation may be adversely affected.

11. Past Non-Compliances: Our Company and our subsidiary, i.e. Zero Mass Private Limited have filed compounding applications before the Regional Director, Northern Region, Delhi and Regional Director, Western Region, Maharashtra, respectively for compounding and adjudication of certain past non-compliances.

12. Outstanding litigations: There are pending litigations against our Company, our Promoters, our Subsidiaries and our Group Companies. Any adverse decision in such proceedings may render us / them liable to liabilities / penalties and may adversely affect our business, results of operations and financial condition.

13. Weighted average cost of acquisition, floor price and cap price.

Types of transactions	Weighted average cost of acquisition (^ per Equity Share)	Floor price* (i.e. ^129)	Cap price* (i.e. ^135)
Weighted average cost of acquisition for last 18 months for primary / new issue of shares (equity/ convertible securities), excluding shares issued under an employee stock option plan/ employee stock option scheme and issuance of bonus shares, during the 18 months preceding the date of filing of the Prospectus, where such issuance is equal to or more than five per cent of the fully diluted paid- up share capital of our Company (calculated based on the pre-issue capital before such transaction/s and excluding employee stock options granted but not vested), in a single transaction or multiple transactions combined together over a span of rolling 30 days.	12.76	10.11 times	10.58 times
Weighted average cost of acquisition for last 18 months for secondary sale / acquisition of shares (equity/ convertible securities), where the promoters / members of the promoter group or shareholders) having the right to nominate directors) in our Board are a party to the transaction (excluding gifts), during the 18 months preceding the date of filing of the Prospectus, where either acquisition or sale is equal to or more than five per cent of the fully diluted paid-up share capital of our Company (calculated based on the pre-issue capital before such transaction/s and excluding employee stock options granted but not vested), in a single transaction or multiple transactions combined together over a span of rolling 30 days	N.A.	NA	NA

14) Weighted average cost of acquisition of all shares transacted in the one year, 18 months and three years preceding the date of the Red Herring Prospectus:

Period	Weighted average cost of acquisition per Equity Share (in Rs)^A	Cap Price is ‘x' times the weighted average cost of acquisition**	Range of acquisition price per Equity Share: lowest price — highest price (in Rs>^a
Last one year preceding the date of the Prospectus	125	1.08	125
Last 18 months preceding the date of the Prospectus	12.76	10.58	Nil-125
Last three years preceding the date of the Prospectus	12.76	10.58	Nil-125

^{A As certified by S S Kothari Mehta & Co.,
Chartered Accountants by way of their certificate dated February 2,2024.

15) The BRLM associated with the Issue has handled 3 Main
Board issues and 7 SME issues in the past three years, out of which none of the issue
closed below the issue price on listing date.

Details of Pre-IPO Placement:

Name
of allottees
Sr.No.
Name
No.
of Shares
Percentage
of issued, subscribed and paid-up equity share capital (%)
Amount^Lakhs)

1.
Neera
Gupta
250,000
0.37
312.50

2.
Deepak
Jain
70,000
0.10
87.50

3.
Ashok
Mittal
150,000
0.22
187.50

4.
Sayuj
Satish Golchha
35,000
0.05
43.75

5.
Shivang
Satish Golchha
35,000
0.05
43.75

6.
Satnam
Singh Takkar
35,000
0.05
43.75

7.
Sonia
Takkar
35,000
0.05
43.75

8.
Deepak
Choudhary
40,000
0.06
50.00

9.
Sachchida
Nand Shrivastava
20,000
0.03
25.00

10.
Sandeep
Srivastava
20,000
0.03
25.00

11.
Vijay
Kumar Aggarwal
70,000
0.10
87.50

12.
Anil
Kumar Agarwal
57,500
0.08
71.87

13.
Archit
Agarwal
17,500
0.03
21.87

14.
Oma
Devi
15,000
0.02
18.75

15.
Rajya
Vardhan Sonthalia
100,000
0.15
125.00

16.
Shaurya
Vardhan Sonthalia
100,000
0.15
125.00

17.
Tarun
Chandmal Jain
50,000
0.07
62.50

Total
11,00,000
1.62
1,375.00

The size of the Fresh Issue of Equity Shares has been
reduced to 2,30,30,000 Equity Shares. Pursuant to the Pre-IPO Placement our paid-up Equity
Share capital has increased from Rs 6,672.65 lakhs to Rs 6,782.65 lakhs.

Further, we confirm that none of the allottees (as listed
above) are in any manner connected with our Company, our Promoters, the Promoter Group,
Directors, Key Managerial Personnel, Subsidiaries, Group Companies and their directors and
key managerial personnel.

BID/ISSUE PROGRAMME

ANCHOR INVESTOR BIDDING DATE OPENED AND
CLOSED ON MONDAY, JANUARY 29,2024

BID/ISSUE OPENED ON TUESDAY, JANUARY
30,2024

BID/ISSUE CLOSED ON THURSDAY, FEBRUARY
01,2024

This Issue was made through the Book BuMng Process, in
terms of Rule 19(2)(b) of the Securities Contracts (Regiiaton) Riles, 1957. as amended
f'SCRR') read witi Regulation 31 of the SEBI ICDR Regiiafcons and in compfcance with
Regiiafcon 6(2) of the SEBI ICDR Regulations where an not less than 75% of the Net Issue
was made available for allocation on a proportionate basts to Qualified Institutional
Buyers ("QIBs", and such portion, the QIB Portion'). Our Company in consultation
with tie BRLM, allocated up to 60% of the QIB Portion to Anchor Investors on a
discretionary basis ("Anchor Investor Portion"). One-tiird of the Anchor
Investor Portion was reserved for the domestic Mutual Funds, subject to vafcd Bids havring
been received from tie domestic Mutual Funds at or above the price at which allocation was
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 tie
Anchor Investor Portion. tie balance Equity Shares was added to the QIB Portion (other
tian tie Anchor Investor Portion) (tie "Net QIB Portion"). Further. 5% of the
Net QIB Portion was made available for allocation on a proportionate bass to Mutual Funds
only, and the remainder of the Net QIB Portion was made available for allocation on a
proportionate bass to al QIB Bidders, including Mutual Funds, subject to valid Bids
hairing been receded at or above the Issue Price. However, if the aggregate demand from
Mutual Funds was less than 5% of the Net QIB Portion, the balance Equity Shares available
for allocation in tie Mutual Fund Portion were added to the remaining QIB Portion for
proportionate allocation to QIBs. Further. not more than 15% of the Net Issue was
available for alccaton to Non-lnstitutional Investors (out of which one-turd of tie
portion available to Non-lnstitutonal Bidders was reserved for Bidders with an app &
cation size of more than Rs2.00 lakhs and up to Rs 10.00 lakhs and two-third was reserved
for Bidders with application size of more than Rs 10.00 lakhs and the unsubscribed portion
in esther of tie aforementioned sub-categones was allocated to Bidders in tie other
sub-category) and not more tian 10% of the Net Issue was made avaiabfe for allocation to
Retail Individual Bidders in accordance witi the SEBI ICDR Regulations. subject to vafcd
Bids hainng been received from them at or above the Issue Price. Al Bidders, other than
Anchor Investors, were required to participate in the Issue by mandatoriy utisng the
Application Supported by Blocked Amount ("AS BA') 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 friear corresponding Bid
Amounts which were Mocked 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 thear
respective Bid Amounts. Anchor Investors were not permitted to participate in the Issue
through the ASBA process. Futher . 23.03,000 Equity Shares, aggregating to Rs 2.947.84
lakhs were 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 having been received at orabove tie Issue Price.

For further details, please see section titled "Issue
Procedure" on page 414 of the Prospects.

The bodding fa Ancha Irrvestas opened and closed on Monday.
January 29.2024. The Company received 10 appfcations from 10Ancha Investors fa 11.763.792
Equity Shares. The Anchor Investa Issue Price was final zed at 7135 pa Equity Share. A
total of 9.327,096 Equity Shares were allocated unda the Ancha Investor Portion
aggregaingtoRs 1259.157.960.

The Issue received 3,557,817 banked applications fa
2.245.748.652 Equity Shares (including appbcatons from Anchor ln\estas and prior to
rejectons) resiittog in 97.51 times subscription. The delate of the banked appfcations
received in the Issue from various categories (rduring Ancha Investors) are as unda
(before rejections):

SRNO.
CATEGORY
NO. OF APPLICATIONS RECEIVED
NO. OF EQUITY SHARES APPLIED
NO. OF EQUITY SHARES RESERVED AS PER PROSPECTUS
NO.
OF TIMES SUBSCRIBED
AMOUNT
(Rs)

A
Qualified
Insttotional Bidders (excluding Anchor Investors)
147
758,326,958
6,218,154
121.95
102,374,140,680,00

B
Non-lnstitutional
Investors -More than2 Lakhs Upto 10 Lakhs
186.944
307,043,892
1,036,350
296.27
41,405,817248,00

C
Non-lnstitutional
Investors -Above 10 Lakhs
79.391
638,142,732
2,072,700
307.88
86,149,164,384,00

D
Retai
Individual Investors
3.165.262
491,594,400
2,072,700
237.18
66,326,053,608,00

E
Share
Hoider Investors
126.063
38,876,868
2,303,000
16.88
5,001,462,504,00

F
Anchor
Imestors
10
11,763,792
9,327,096
1.26
1,588,111,920,00

Total
3.557.817
2245,748,652
23,030,000
97.51
302,845,750,344,00

* This excludes 24.476 applications for 3.770.928 Equity
Shares from Retai Individual which were not in bod book but which were banked.

Final Demand

A summary of the final demand as per BSE and NSE as on the
Bid'lssue Closing Date at different Bid prices is as under:

SR.
NO
Bid
Price
No.
of Equity Shares
%
to Total
Cumulative
Total
Cumulative
% of Total

1
129
2,141,532
0.09
2,141,532
0.09

2
130
1,032,831
0.34
3,174,336
0.13

3
131
279,180
0.01
3,453,516
0.14

4
132
865,944
0.34
4,319,460
0.18

5
133
1383,696
0.06
5,703,156
0.24

6
134
1,492,668
0.06
7,195,824
0.30

7
135
1,842,762,528
77.15
1,849,958,352
77.45

16
CUTOFF
538,510,032
22.55
2,388,468,384
100.00

2,388,468,384
100.00

The Bass of Allotment was finalized in con sulfa ton wth
the Desgnated Stock Exchange, being NSE on Friday. February 2.2024

A. Allotment to Retail Individual Investors (after
rejections) (including AS BA Applications)

The Bass of ABotment to toe Retai Individual Investors, who
have bid at the Cut-Off Price or at the Issue Price of Rs 135 per Equity Share, was
finalized in consiitation with NSE. This category has been subscribed to the extent of
226.4366 times (after rejections). The total number of Equity Shares ABotled in Retai
Portion ts 2,072.700 Equity Shares to 19.191 successU appiicants. The category-wtse detais
of the Basts of Allotment are as under:

SR
NO
CATEGORY
NO. OF APPLICATIONS RECEIVED
%
OF TOTAL
TOTAL
NO. OF EQUITY SHARES APPLIED
%
TO TOTAL
NO.
OF EQUITY SHARES ALLOTTED PER BIDDER
RATIO
TOTAL
NO. OF EQUITY SHARES ALLOTTED

1
108
2,626,030
86.72
283,611240
60.41
108
39:6154
1,797,336

2
216
189,798
6.27
40,996,368
8.73
108
39:6154
129,924

3
324
64,640
2.13
20,943360
4.46
108
39:6154
44,280

4
432
30,020
0.99
12,958,640
2.76
108
39:6154
20,520

5
540
29,359
0.97
15,853,860
3.38
108
39:6154
20,088

6
648
11,317
0.37
7,333,416
1.56
108
39:6154
7,776

7
756
13,098
0.43
9,902,088
2.11
108
39:6154
8,954

8
864
6,266
0.21
5,413,824
1.15
108
20:3133
4,320

9
972
6,078
0.20
5,907,816
1.26
108
19:3039
4,104

10
1080
15,940
0.53
17,215200
3.67
108
39:6154
10,908

11
1188
2,640
0.09
3,136320
0.67
108
17:2640
1,836

12
1295
2,430
0.08
3,149280
0.67
108
1:162
1,620

13
1404
30,632
1.01
43,007328
9.16
108
39:6154
20,952

1
72:2549
72

TOTAL
3,028,248
100.00
469,438,740
100.00

2,072,700

Please Note: 1 additional Share shal be
allotted to 72 Allottees from amongst 2549 Successful Applicants from the categories
216-1404 (i.e. exctucSng successfJ applicants from Category 108) in the ratio of 72 :
2549.

B. Allotment to Non-lnstitutkmal Investors (More
than 0.2 million 7 1.00 million) (after rejections)

The Bass of ABolment to tie Non-Institutional Investors
{(More than 02 m*on Rs 1.00 mBon). viio have bod at the Issue Pnceof Rs 135 per Equity
Share was finalized in co ns lit at ion wilh NSE. The sub-category of the Non-lnstitetonal
Portion composing Non-lnstitutonai ln\estors Bidding (More tian 02 m*onRs I.OOmlion )has
been subscribed to the extent of 287.2918 times (after rejections). The total number of
Equity Shares Alotted in fits category is 1,036.350 Equity Shares to 685 successfii Non-
Institutional Investors. The category-wtse detais of the Basts of Alotment are as under:
(Sample)

SR
NO
CATEGORY
NO. OF APPLICATIONS RECEIVED
%
OF TOTAL
TOTAL
NO. OF EQUITY SHARES APPUED
%
TO TOTAL
NO.
OF EQUITY SHARES ALLOTTED PER APPLICANT
RATIO
TOTAL
NO. OF EQUITY SHARES ALLOTTED

1
1512
161,624
89.13
244,375,468
82.08
1.512
21:5555
923,832

2
1620
5,870
3.24
9,509,400
3.19
1.512
11:2935
33,264

3
1728
1298
0.72
2242,944
0.75
1.512
5:1298
7,560

4
1836
935
0.52
1,716,660
058
1.512
4:935
6,048

5
1944
720
0.40
1399,680
0.47
1.512
1
:240
4,536

17
3240
474
0.26
1535,760
052
1.512
1
:237
3,024

18
3348
107
0.06
358,236
0.12
1.512
0:107
0

19
3456
87
0.05
300,672
0.10
1.512
0:87
0

22
3780
330
0.18
1247,400
0.42
1.512
1
:330
1,512

28
4428
62
0.03
274,536
0.09
1.512
0:62
0

29
4536
216
0.12
979,776
033
1.512
1
:216
1312

33
4968
15
0.01
74,520
0.03
1.512
0:15
0

34
5076
28
0.02
142,128
0.05
1.512
0:28
0

35
5184
55
0.03
285,120
0.10
1.512
0:55
0

36
5292
23
0.01
121,716
0.04
1.512
0:23
0

48
6588
15
0.01
98,820
0.03
1.512
0:15
0

49
6696
12
0.01
80,352
0.03
1.512
0:12
0

50
6804
25
0.01
170,100
0.06
1.512
0:25
0

51
6912
22
0.01
152,054
0.05
1.512
0:22
0

52
7020
54
0.03
379,080
0.13
1.512
0:54
0

53
7128
14
0.01
99,792
0.03
1.512
0:14
0

54
7236
29
0.02
209,844
0.07
1.512
0:29
0

55
7344
691
0.38
5,074,704
1.70
1.512
3:691
4,536

8
1:1
592

1
19:37
38

Total
243.540
181,334
100.00
297,734,832
100.00

1,036,350

Please Note: 8 addrtional Share shal be alotted to 74
Successful Alottees from Serial No. 2 to 55 (i.e. excluding successfd applicants from
Category 1512} in tie ratio

of 1:1.

Please Note: 1 additional Share shal be alotted to 38
Allottees from amongst 74 SuccessfrJ ABotlees from Serial No. 2 to 55 (i.e. excluding
successfd applicants from Category 1512) in tie rato of 19:37

C. Allotment to Non-lnstitutional Investors (More than Rs
1.00 million (after rejections)

The Basts of ABotment to tie Non-lnsttutional Investors
(More than Rs 1.00 mlion), who have bid at the Issue Price of Rs 135 Equity Share was
finalized in consultaton wth the NSE. The sub-category of IheNon-lnstitutional Portion
comprising Non-lnstitetonal Investors BxJding above Rs 1 .OOmflion has been subscnbedto
the extent of 303.3886 fanes (after rejections). The total number of Equity Shares Alotted
in fits category is 2.072.700 Equity Shares to 1370successfrJ appfccants Non-lnstitutional
Investors. The category-wtse details of the Bass of ABotment are as under (Sample):

SR
NO
CATEGORY
NO. OF APPLICATIONS RECEIVED
%
OF TOTAL
TOTAL
NO. OF EQUITY SHARES APPLIED
%
TO TOTAL
NO.
OF EQUITY SHARES ALLOTTED PER APPLICANT
RATIO
TOTAL
NO. OF EQUITY SHARES ALLOTTED

1
7452
71405
9128
532110060
84.62
1512
13:742
1.891,512

2
7560
2095
2.68
15838200
2.52
1512
37:2095
55.944

3
7668
388
050
2975184
0.47
1512
7:388
10.584

4
7776
309
039
2402784
0.38
1512
2:103
9,072

5
7884
147
0.19
1158948
0.18
1512
3:147
4.536

6
7992
87
0.11
695304
0.11
1512
2:87
3,024

7
8100
298
038
2413800
0.38
1512
5:298
7.560

8
8208
149
0.19
1222992
0.19
1512
3:149
4.536

9
8316
104
0.13
864864
0.14
1512
1
52
3,024

10
8424
53
0.07
446472
0.07
1512
1
53
1,512

18
9288
15
0.02
139320
0.02
1512
0:15
0

19
9396
26
0.03
244296
0.04
1512
1
26
1,512

20
9504
10
0.01
95040
0.02
1512
0:10
0

21
9512
24
0.03
230688
0.04
1512
1
24
1,512

22
9720
65
0.08
631800
0.10
1512
1:65
1,512

23
9828
35
0.04
343980
0.05
1512
1
35
1,512

349
378000
1
0.00
378000
0.05
1512
0:1
0

350
432000
1
0.00
432000
0.07
1512
0:1
0

351
444420
1
0.00
444420
0.07
1512
0:1
0

352
459216
1
0.00
459216
0.07
1512
0:1
0

353
518508
1
0.00
518508
0.08
1512
0:1
0

354
740664
1
0.00
740664
0.12
1512
0:1
0

355
740880
1
0.00
740880
0.12
1512
0:1
0

1
126:137
1,260

TOTAL
23,692,284
78,229
100.00
628,833,456
100.00

2,072,700

Rease Note: 1 additional Share shal be alotled to 1260
Alottees from amongst 1370 Successfd Applicants fromal the categories in the ratio of
126:137.

D. Allotment to Shareholder Category (After Technical
Rejections)

The Basts of ABolment to the Shareholder Category, who have
bod at the Issue Price of 1 128 /• per Equity Share# or above, was finalized in
consultaton with NSE. This category has been subscribed to Ihe extent of 9.2417 times. The
total number of Equity Shares alotted in tvs category ts 2.303.000 Equity Shares to 16.497
successfii applicants. The category-wtse details of Ihe Basts of ABolment are as under:
(Sample)

#A discount of 17per Equity Share ivas offered to BLS
International Shareholders Bidding in the BLS International Shareholders Reservation
Portion

SR
NO
CATEGORY
NO. OF APPLICATIONS RECEIVED
%
OF TOTAL
TOTAL
NO. OF EQUITY SHARES APPUED
%
TO TOTAL
NO.
OF EQUITY SHARES ALLOTTED PER BIDDER
RATIO
TOTAL
NO. OF EQUITY SHARES ALLOTTED

1
108
22,208
5323
2398,464
11.27
108
29:268
259,524

2
216
3,905
936
843,480
3.96
108
29:134
91,260

3
324
1,718
4.12
556,632
2.62
108
13:40
60,264

4
432
872
2.09
376,704
1.77
108
16:37
40,716

5
540
957
229
516,780
2.43
108
13:24
55,944

6
648
357
0.86
231,336
1.09
108
13:20
25,056

7
756
454
1.09
343,224
1.61
108
22:29
37,152

8
864
217
052
187,468
0.88
108
13:15
20,304

9
972
163
039
158,436
0.74
108
40:41
17,172

10
1080
559
134
603,720
2.84
117
1:1
65,403

11
1188
135
032
160,380
0.75
128
1:1
17,280

1
74:135
74

12
1296
161
039
208,656
0.98
140
1:1
22,540

13
1404
4,157
9.96
5,836,428
27.42
151
1:1
627,707

1
58:63
3,827

14
1512
5,861
14.05
8,861,832
41.64
163
1:1
955,343

1
58:99
3,434

TOTAL
11340
41724
100.00
21283560
100.00

2,303,000

Please Note: 1 addif onal Share shal be alotled to
Categories 1188.1404.1512 in the ratio of 74:135.58:63 & 58:99.

E. Allotment to QIBs (Excluding Anchor Investors) (after
rejections)

Allotment to QIBs (excluding Anchor Investors), who ha\e
Bid at the Issue Price of Rs 135 per Equity Share has been done on a proportionate bass in
cons lit at on with NSE. This category has been subscribed to the extent of 121.9537 times
of Net QIB Portion. As per the SEBI ICDR Regulations. Mutual Funds were Alotled 5% of tie
Equity Shares of Net QIB Portion available i.e. Ni Equity Shares and other QIBs including
Mutual Funds were Allotted tie remaining available Equity Shares i.e.. 6,218.154 Equity
Shares {Includes spied over of 310.907 Equity Shares QIB MF Category)on a proportionate
basis. The total number of Equity Shares Allotted in tie Net QIB Portion is .6,218.154
Equity Shares, viiichwere alloted to 147successUaiottees. The category-wise details of the
Bass of Allotment are as under.

CATEGORY
FI'S'BANK'S
MF'S
IC'S
NBFC'S
AIF
FPC/FII
OTHERS
TOTAL

QIB
2,567,814
•
183,528
•
•
1,466,057
2,000,755
6218,154

F. Allotment to Anchor investors

The Company, the Promoter Sefcig Shareholders and the
Investor SeSng Shareholders, in cons lit at on with the BRLM has atotted 9.327.0% Equity
Shares to 10 Anchor Investors (inducing Nil domestic Mutual Funds through Ni Mutual Fund
schemes). 10 Anchor Investors Appfccaton Forms at the Anchor Investor Issue Pricce of Rs
135 t-per Equity Share in accordance wifi the SEBIICDR Regulations.

CATEGORY
FI'S*BANK'S
MRS
IC'S
NBFC'S
A1F
FPC/FII
OTHERS
Total

ANCHOR
•
•
•
•
•
9327.0%
•
9327.0%

The IPO Committee of tie Board of Directors in its meetng
held on February 3,2024 has takenon record the Basts of Allotment of Equity Shares
approved by tie Designated Stock Exchange, being NSE and alotted the Equity Shares to
various successfd Bidders. The ABotment Advice-cum-Unbiockfog intonations ha\e been
dispatched to tie email id or address of tie investors as registered with tie
depositories. Further, tie instructions to the Setf Certified Syndicate Banks for
unbtocktog of funds, transfer to Pubic Issue Account have been issued on February 02.2024
and payments to non-Syndicate brokers have been issued on February 05.2024. h case the
same is not received vdtvn ten days, investors may contact tie Registrar to the Issue at
tie address given befcw. The Equity Shares Allotted to the successful Allottees have been
uploaded on February 05. 2024 for credit into the respectve beneficiary accounts subject
to vaidafon of the account detais with the depositories concerned. The Company tied tie
Using application with NSE and BSE on February 05.2024. The Company has received isttog
and trading approval from NSE and BSE and the trading vil commence on February 06.2024.

Note: All capita feed terms used and not specificaly
defined hereto shal ha\e the same meantogas ascribed to them to tie Prospectus.

INVESTORS PLEASE NOTE

The detais of the ABotmerit madewi be hosted on the website
of the Registrar to tie Issue. Kfin Technologies United at www.kfintech.com

All future correspondence in this regard may forty be
addressed to the Registrar to the Issue quoting fJ name of tie First/Sofle Bidder. Bid cum
Appication Form number. Bidder DP ID. (Sent ID. PAN. date of submission of Bid cum
Appication Form, address of the Bidder, number of Equity Shares applied for. the name and
address of tie Designated Inter me diary where the Bid cum Appication Form was submitted
by tie Bidder and a copy of the Acknowledgment Sip receded from the Designated
Intermediary at the address given below:

Address: Selenium. TowerB, Ptot No. 31- 32.
GacKbowfi, Financial District. Nanakramguda.

Serilingampaly. Hyderabad-500 032. Telangana. India Telephone:
? 9140 6716 2222. Email: blseservices.ipo@kfintech.com

Investor grievance email: einward.rts@kfintech.com. Website: www.kfintech.com

Contact Person: M. Mini Krtstaa. SEBI
Registration No: INR000000221

For on behalf of BLS E-Services Limited

Sd/•

Place: New Delhi
Sanjay Kumar Raw at

Date: February
5.2024
Company
Secretary and Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE
INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS
PROSPECTUS OF BLS E-SERVICES LIMITED.

BLS E-Services Limited is proposing, subject to receipt of
requisite approvals, market conditions and other considerations, to make an inifai pubic
offering of its equity shares ("Issue") and has filed a Prospectus dated
February 2.2024 ("Prospectus') wth the Registrar of Companies. National Capital
Territory of Delhi and Haryana at Ne/r Deli ("RoC). The Prospectus ts avaiable on the
website of the SEBI at www.sebi.gov.in, tie websile
of tie National Stock Exchange of India Limited at wwwjisendfa.com and tie website of tie
BSE Limited at www.bseindia.com and the respective
website of the book running lead manager to the Issue. Uristone Capital Private Limited at
www.untstonecapital.com. Investors should
note that investment in equity shares involves a high degree of risk. For detais. refer to
the Prospectis fled with tie RoC. including tie section titled "Risk Factors' on page
40 of tie Prospectus.

The Equity Shares have not been andwilnot 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 regts tered, may not be
offered or so Id witi in tie United States absent registration under tie U.S. Securities
Act or except pursuant to an exemption from, or in a tansacion not subject to. the
registration requirements of the U.S. Securities Act and appteable state securities laws.
Accordingly, tie Equity Shares are besng offered and sold (a) in tie United States onty to
persons reasonably be&eved to be "qualified institutional buyers" (as
defined in Riie 144A under tie 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 compiance wti
Regulation S under tie U.S. Securities Act and tie applicable laws of tie jurtsdction
where those offers and sales are made. There wi be no pubic offering of the Equity Shares
in the United States.}

BLS E-Services IPO Basis of Allotment FAQs

The IPO allocation is based on the subscription level and the investor category.

Refer to IPO allotment rules and methods for more details.

See the basis of allotment document above to know how the shares are allocated in BLS E-Services IPO .

The BLS E-Services IPO basis of allotment (published above) tells you how shares are allocated to you in BLS E-Services IPO and category wise demand of IPO share.

Visit the BLS E-Services IPO allotment status page to check the number of shares allocated to your application.

In BLS E-Services IPO allotment process, the registrar separates valid and invalid applications. The invalid applications with technical errors are rejected and only valid applications at or above the cut-off price are considered for allotment.

For more information, please refer to IPO Allotment Process and Basis of Allotment.

Check the BLS E-Services IPO basis of allotment document to know how the shares are allocated in BLS E-Services IPO.

2 Comments

2. Alok Verma Link|February 8, 2024 5:31:51 PM

Attach image file for the BoA document is not opening. The link looks like broken. This is the problem with many uploaded BoA documents on the site.

Please fix the issue.

Thanks!

1. Alok Verma Link|February 3, 2024 4:14:37 PM

What is the first hand source for getting Basis of Allotment? I have checked the websites of major registrars, Kfin Technologies, Linkintime, but am unable to locate the link for the same.

Could anyone please guide for it?

Is it also shared on SEBI and exchanges websites? Please tell where to watch for it. Please provide URLs of each websites for the same if possible.

Thanks!

BLS E-Services IPO Basis of Allotment

BLS E-Services IPO Basis of Allotment FAQs

How shares are allotted in BLS E-Services IPO?

What is BLS E-Services IPO basis of allotment status?

What is BLS E-Services IPO allotment process?

Read more about BLS E-Services IPO

2 Comments