BLS E-Services IPO Buzz: Subscription Closes on Thursday, February 01

1 Feb 2024 , 12:10 PM

BLS E-Services IPO opened for subscription on January 30 and closes on February 01.

The IPO received a strong response from investors, with a subscription status of 15.67 times on day 1 and 42.78 times on day 2

At the time of writing, the Retail Individual Investors (RIIs) category had a subscription of 168.72 times, the non-institutional investors category at 157.69 times, and the Qualified Institutional Buyers (QIBs) category received a 3.58 times subscription. Overall subscription status remains 66.93 at the time of writing.

The IPO’s price range was ₹129-135 per share.

BLS E-Services raised ₹126 crore from anchor investors a day before the IPO.

BLS E-Services is the only listed company in India providing visa, passport, and citizen services to governments across Asia, Africa, Europe, South America, North America, and the Middle East.

As of March 31, 2023, the company’s merchant network expanded to 92,427, with a focus on serving underserved populations in hard-to-reach areas.

The company has a total of 3,071 employees, including 2,413 contract employees, as of June 30, 2023.

For the period ending September 30, 2023, BLS E-Services reported a net profit of ₹ 14.68 crore with revenue of ₹158.05 crore. The financial year ending March 31, 2023, saw a bottom line of ₹20.33 crore with revenue of ₹246.29 crore.

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