BLS E-Services IPO subscribed 42.74 times

Published on Jan 31, 2024 17:21

The initial public offer (IPO) of BLS E-Services received bids for 58,56,83,352 shares as against 1,37,02,904 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (31 January 2024). The issue was subscribed 42.74 times.

The issue opened for bidding on Tuesday (30 January 2024) and it will close on Thursday (1 February 2024). The price band of the IPO is fixed at Rs 129-135 per share. An investor can bid for a minimum of 108 equity shares and in multiples thereof.

The IPO consists of a fresh issue of 2,30,30,000 equity shares. From the fresh issue, the company has reserved 10% (23,03,000 equity shares) to BLS International Services shareholders.

Ahead of the IPO, BLS E-Services on Monday, 29 January 2024, raised Rs 125.91 crore from anchor investors. The board allotted 93.27 lakh shares at Rs 135 each to 10 anchor investors.

BLS E-Services is a digital service provider. The Delhi-based company offers services such as business correspondence services to major banks, assisted e-services and e-governance services at grassroots levels. It also provides the delivery of essential public utility services, healthcare, financial, agricultural, educational, and banking services for governments in urban, semi-urban, rural and remote areas.

The company being a subsidiary of BLS International Services provides visa, passport, consular, and other citizen services to state and provincial governments across Asia, Africa, Europe, South America, North America, and the Middle East through its technology-enabled platform.

The firm reported a net profit of Rs 14.68 crore and sales of Rs 156.18 crore for the six months ended on 30 September 2023.