BLS E-Services stock zooms 129% on listing: Latest updates

BLS E-Services Share Price hit ₹305 on listing against an issue price of ₹135

Updated on: Feb 6, 2024, 16:05:23 IST

By HT News Desk

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BLS E-Services Share Price: Shares of BLS E-Services listed at a 128.9 percent premium over the IPO price on February 6 as the stock opened at ₹305 on the NSE and at ₹309 on the BSE against an issue price of ₹135. This comes after BLS E-Services ₹311-crore initial public offering was subscribed 162.47 times during January 30 and February 1- highest subscription among IPOs launched in the current year.

BLS E-Services IPO: BLS E-Services offers business correspondence services to major banks in India, assisted e-services and e-governance services as well.

For the IPO subscription, non-institutional investors (high net worth individuals) picked up 300.14 times the allotted quota while retail investors took 237 times and qualified institutional buyers 123.3 times the portions.

BLS E-Services IPO: What it comprised of?

BLS E-Services IPO was entirely a fresh issue of 2.3 crore shares with a price band of ₹129-135 per share.

BLS E-Services IPO: What are company's plans with the IPO?

The net proceeds from the fresh issue will be used for strengthening technology infrastructure to develop new capabilities and consolidating existing platforms. The company will also use ₹28.71 crore to achieve inorganic growth through acquisitions and the remaining funds will be used for general corporate purposes.

BLS E-Services IPO: What we know about the company?

In the period ended on September 30, 2023, BLS E-Services's net profit came in at ₹14.68 crore on a revenue of ₹158.04 crore.

The digital service provider offers business correspondence services to major banks in India, assisted e-services and e-governance services as well.

BLS E-Services IPO: Who is the book-running lead manager of the IPO?

The book-running lead manager of the IPO is Unistone Capital, while Kfin Technologies was the registrar.

BLS E-Services IPO: Who are the promoters of the company?

BLS International Services, Diwakar Aggarwal and Shikhar Aggarwal are the promoters of the company.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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