February 18, 2024
BLS E-Services Limited IPO: Ready for Strong Market Debut
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BLS E-Services Limited IPO: Ready for Strong Market Debut

BLS E-Services Limited IPO: Ready for Strong Market Debut

BLS E-Services Limited IPO: Ready for Strong Market Debut

The BLS E-Services Limited IPO is set for subscription from January 30 to February 1, with the anchor investor allocation scheduled for January 29. Key details and signals for investors:

  • Price Band: The IPO price band is fixed at ₹129 to ₹135 per equity share with a lot size of 108 shares.
  • Reservation: Not less than 75% of shares are reserved for qualified institutional buyers (QIB), not more than 15% for non-institutional investors (NII), and up to 10% for retail investors. BLS International shareholders receive a ₹7 discount per share in the reserved portion.
  • Company Focus: BLS E-Services is a digital service provider offering Assisted E-Services, E-Governance Services, and Business Correspondence services to major banks. The focus areas include business correspondent services, assisted e-services, and e-government services.
  • Revenue Growth: The company’s revenue from operations for the six months ended September 30, 2023, showed significant growth, reaching ₹15,617.88 lakhs. Expansion of services through BCs and BLS Touchpoints contributed to this growth.
  • Expansion: BLS E-Services operates BLS Touchpoints in the majority of Indian districts, with 96,162 new merchants joining the network as of September 30, 2023.
  • GMP and Listing Estimate: The grey market premium (GMP) for BLS E-Services IPO is +142, indicating a strong premium. The estimated listing price is ₹277, 105.19% higher than the IPO price.
  • Use of Proceeds: The net proceeds from the IPO will be used for promoting organic growth, acquiring businesses, general corporate purposes, and strengthening technology infrastructure.
  • Key Dates: Basis of allotment is tentatively finalized on February 2, with refunds initiated on February 5. Shares are expected to be credited on the same day, and the listing is scheduled for February 6.
  • Analyst Outlook: Analysts highlight the company’s position as a “Go to Market Platform” and its potential in various industry verticals. Considering the ‘Digital India’ initiative, the company has bright prospects.

Investors are closely watching the subscription numbers and the market debut, expecting a strong response based on the positive signals and growth potential of BLS E-Services Limited.

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