BLS E-Services IPO: Retail Investors Subscribe 74.21 Times

31 Jan 2024 , 11:30 AM

BLS E-Services Ltd’s Initial Public Offering (IPO) saw robust demand on the second day of subscription. 

Retail Individual Investors (RIIs) category had a subscription of 74.21 times, the non-institutional investors category at 45.28 times, and Qualified Institutional Buyers (QIBs) category received 2.21 times subscription.

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.

For feedback and suggestions, write to us at [e-mail]