BLS e-Services IPO: Investors lined up for BLS e-Services IPO, fully subscribed as soon as it opened.
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BLS e-Services IPO: The initial public offering (IPO) of BLS E-Services Limited has received tremendous support from investors. It is being told that within a few minutes of the application being launched, the number was subscribed. According to data available on NSE at 11:57 am, the Rs 311 crore IPO received 5,83,39,440 bids against 1,37,02,904 shares, translating into 4.26 times subscription. The IPO includes fresh shares worth up to Rs 2,30,30,000. Its price range has been fixed at Rs 129-135 per share.
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BLS E-Services Limited had raised Rs 126 crore from anchor investors on Monday.
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In the release issued by the company, it has been said that applications for subscription can be made till February 1.
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The company will use the funds raised through the IPO to strengthen its technology infrastructure to develop new capabilities and strengthen its existing platforms.
What does BLS-E Services Limited do?
BLS-e Services Limited is a digital service provider providing grassroots support e-services, e-Governance services and Business Correspondence services to major banks in the country. The three areas of focus are business correspondent services, assisted e-services and e-government services. Incorporated in April 2016, BLS-e Services Limited is a digital services provider providing Business Correspondence services, supporting e-services and grassroots e-governance services to major banks in India. The company, being a subsidiary of BLS International Services Limited, provides visa, passport, consular and other citizen services to state and provincial governments in Asia, Africa, Europe, South America, North America and the Middle East through its technology-enabled platform. Is. It is the only listed company engaged in this domain in India.
What is the company’s GMP?
According to InvestorGain.com, based on the last four sessions, IPO GMP is pointing up in the gray market today. The company is expecting a strong listing of its shares. The lowest GMP of the company’s shares is ₹60, while the highest GMP is ₹142. On Tuesday, GMP became ₹110. The listing of the company’s shares will take place on Friday, February 2. The company will initiate refunds on Monday, February 5, while the shares will be credited to the demat accounts of allottees on the same day. Shares of BLS e-Services are likely to be listed on BSE and NSE on Tuesday, February 6.
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