The BLS E-Services IPO date of subscription is scheduled for Tuesday, January 30. BLS-E Services is a digital service provider that provides Assisted E-Services, E-Governance Services at the grassroots level in India, and Business Correspondence services to major banks in the country. Business correspondent services, assisted e-services, and e-government services are the three areas of focus.
The company's extensive network enables them to offer a wide range of business-to-business (B2C) and government-to-business (G2C) services, including social welfare programmes, healthcare, banking, financial, educational, and agricultural services, as well as a multitude of essential public utility services. These services are delivered to residents of urban, semi-urban, rural, and remote areas, as stated in the company's red herring prospectus (RHP).
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The company's merchants serve as their point of contact with customers and are essential to the actual delivery of products and services. The organisation now classifies its merchants into two groups: BLS Touchpoints and BLS Stores. The firm has 1,016 BLS Stores among its 98,034 BLS Touchpoints as of September 30, 2023.
The company's listed peer is EMudhra Ltd with a P/E of 56.27.
Between March 31, 2022, and March 31, 2023, BLS E-Services Limited's profit after tax (PAT) climbed by 277.94% and its revenue increased by 150.31%.
Here are the 10 key things to know about BLS E-Services IPO:
BLS E-Services IPO date: BLS E-Services IPO opens on Tuesday, January 30, and will close on Thursday, February 01.
BLS E-Services IPO price band: BLS E-Services Limited IPO price band has been fixed in the range of ₹129 to ₹135 per equity share of the face value of ₹10.
BLS E-Services IPO lot size: BLS E-Services IPO lot size is 108 equity shares and in multiples of 108 equity shares thereafter.
Anchor investor: The allocation to anchor investors for the BLS E-Services IPO is scheduled to take place today (Monday, January 29).
BLS E-Services IPO details: BLS E-Services IPO solely comprises of fresh issue of 2,30,30,000 crore equity shares by the subsidiary of the listed business BLS International Services. There is no offer-for-sale component to the BLS E-Services IPO.
BLS E-Services IPO objective: The company intends to use the net proceeds to finance the establishment of BLS Stores as a means of promoting organic growth, the acquisition of businesses to achieve inorganic growth, general corporate purposes, and strengthening the technology infrastructure to develop new capabilities and consolidate the current platforms.
BLS E-Services IPO listing and allotment details: Tentatively, BLS E-Services IPO basis of allotment of shares will be finalised on Friday, February 2, and the company will initiate refunds on Monday, February 5, while the shares will be credited to the demat account of allottees on the same day following refund. BLS E-Services share price is likely to be listed on BSE and NSE on Tuesday, February 6.
Lead Manager and Registrar of BLS E-Services IPO: The registrar of the BLS E-Services IPO is Kfin Technologies Limited, while the book running lead manager is Unistone Capital Pvt Ltd.
BLS E-Services IPO reservation: BLS E-Services Limited IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. A discount of ₹7 per equity share is being offered to BLS International shareholders reservation portion.
BLS E-Services IPO GMP today: BLS E-Services IPO GMP, or grey market premium, is +155, higher than the previous session. So far, the GMP has been rising. This indicates BLS E-Services share price were trading at a premium of ₹155 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of BLS E-Services share price was indicated at ₹290 apiece, which is 114.81% higher than the IPO price of ₹135.
Based on the last seven sessions of grey market activity, today IPO GMP points upward and expects a strong listing, as per analysts at investorgain.com. The lowest GMP is ₹60, while the highest GMP is ₹160.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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