BLS e-Services IPO: IPO of this digital services company is coming in the market, GMP is growing like a rocket before its launch.
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BLS e-Services IPO: If you are thinking of investing money in IPO this week, then this is a great opportunity for you. The application process for the IPO of BLS E-Services Limited, which provides technology-based services, is starting from January 30, which will end on February 1. The company has fixed the price range for its IPO at Rs 129-135 per share.
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The company said in a release that this issue will open for applications on January 30 and will close on February 1, 2024.
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The company is offering 2.3 crore equity shares under the IPO. This does not include the shares allotted before the IPO.
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Anchor investors will be able to bid on January 29.
The company will use the funds raised through the IPO to strengthen its technology infrastructure to develop new capabilities and strengthen its existing platforms. Apart from this, BLS will expand by setting up and acquiring stores and will also use the funds for general company purposes.
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.
The company is doing better work
According to the company’s red herring prospectus, the company’s revenue from operations was ₹ 15,617.88 lakh in FY 2023, ₹ 24,306.07 lakh in FY 2022 and ₹ 9,669.82 lakh in FY 2021. The company said this was mostly due to the expansion of services offered through BC and BLS touchpoints. As of September 30, 2023, the company operated BLS touchpoints in most of the districts in India. As of September 30, 2023 and during the last three financial years, 96,162 new merchants have joined the network. The company aims to establish itself as the go-to-market platform for multiple industry sectors including digital platforms and finance.
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 is ₹60, while the highest GMP is ₹142. On Tuesday, GMP was at ₹60, and it rose to ₹110 in Wednesday’s session.
Important Date of BLS e-Services IPO
Listing of shares of BLS e-Services IPO 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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