BLS E-Services Share Price: Shares of BLS E-Services listed at a 128.9 percent premium over the IPO price on February 6 as the stock opened at 305 on the NSE and at 309 on the BSE against an issue price of 135. This comes after BLS E-Services 311-crore initial public offering was subscribed 162.47 times during January 30 and February 1- highest subscription among IPOs launched in the current year.

BLS E-Services IPO: BLS E-Services offers business correspondence services to major banks in India, assisted e-services and e-governance services as well.

For the IPO subscription, non-institutional investors (high net worth individuals) picked up 300.14 times the allotted quota while retail investors took 237 times and qualified institutional buyers 123.3 times the portions.

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BLS E-Services IPO: What it comprised of?

BLS E-Services IPO was entirely a fresh issue of 2.3 crore shares with a price band of 129-135 per share.

BLS E-Services IPO: What are company’s plans with the IPO?

The net proceeds from the fresh issue will be used for strengthening technology infrastructure to develop new capabilities and consolidating existing platforms. The company will also use 28.71 crore to achieve inorganic growth through acquisitions and the remaining funds will be used for general corporate purposes.

BLS E-Services IPO: What we know about the company?

In the period ended on September 30, 2023, BLS E-Services’s net profit came in at 14.68 crore on a revenue of 158.04 crore.

The digital service provider offers business correspondence services to major banks in India, assisted e-services and e-governance services as well.

BLS E-Services IPO: Who is the book-running lead manager of the IPO?

The book-running lead manager of the IPO is Unistone Capital, while Kfin Technologies was the registrar.

BLS E-Services IPO: Who are the promoters of the company?

BLS International Services, Diwakar Aggarwal and Shikhar Aggarwal are the promoters of the company.

 

 

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