As for bleeding, I am always amazed how these cowboys castrate cattle, horses, brand or put ear tags on, all out in the field, no pain killers, no blood stop, nothing! Just hack it off, turn the critter lose and it's done!
Definitely watch some videos Saaniya, and also, after the procedure, make sure to keep him in a sanitary place away from the others for a while. Use some antibiotic lotion on the comb to prevent infection. Right after, I would keep him in a darkened area too, darkness quiets birds and he will no doubt be shocky. If it's not roasting hot when you do this, I would be ready with heat. Shock causes chilling which in itself can kill.
Just be ready with all your supplies, I think he will benefit from this over all. Every time we do stuff like this it's a risk. But speaking for myself, every procedure I've done has turned out well for the bird. If the issue itself is going to kill the bird, the procedure is worth trying.
I wish I was there Saaniya, I would definitely help you with this.
I have to run to town but will be back later to check up on you.