BLS E-Services IPO Sees Strong Day 1 Response, Eyes ₹311 Crore

30 Jan 2024 , 03:49 PM

BLS E-Services’ IPO saw a robust response from investors on the first day of bidding across all categories.

The New Delhi-based company is offering shares in the price band of  ₹129-135, aiming to raise ₹310.93 crore via the IPO.

The issue, which began on January 30, witnessed strong demand with bids for 10,30,83,624 equity shares, equivalent to 11.49 times the offered shares by 3:30 pm on the same day.

The retail investor segment was subscribed 40.38 times, while non-institutional investors showed a subscription of 18.11 times.

Qualified institutional bidders (QIBs) subscribed 2.07 times, and BLS International shareholders’ portion was booked 1.97 times by the specified time.

BLS E-Services, incorporated in April 2016, offers digital services to banks, E-Services, and E-Governance at the grassroots level in India.The company’s FY23 revenue was ₹243.06 crore with a profit after tax (PAT) of Rs 20.33 crore.

BLS E-Services raised ₹126 crore from 10 anchor investors ahead of the IPO, allocating 75% to QIBs, 15% to non-institutional investors, and 10% to retail investors.

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