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Business News/ Markets / Ipo/  BLS E-Services Limited IPO: Price band set at 129-135 per share; check GMP, key dates, issue details, more

BLS E-Services Limited IPO: Price band set at ₹129-135 per share; check GMP, key dates, issue details, more

  • BLS E-Services Limited IPO price band has been set in the range of 129 to 135 per equity share. The BLS E-Services IPO is scheduled for subscription from January 30 to February 1.

BLS E-Services Limited IPO price band has been fixed in the range of 129 to 135 per equity share.

BLS E-Services IPO price band: The 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. The BLS E-Services IPO date of subscription is scheduled for Tuesday, January 30, and will close on Thursday, February 01. The allocation to anchor investors for the BLS E-Services IPO is scheduled to take place on Monday, January 29.

The floor price is 12.90 times the face value of the equity shares and the cap price is 13.50 times the face value of the equity shares. The price to earnings ratio at the floor price is 42.72 times and the cap price is 44.70 times based on the basic and diluted EPS. BLS E-Services IPO lot size is 108 equity shares and in multiples of 108 equity shares thereafter.

Also Read: IPO investors call for rules to keep anchors from selling early

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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.

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.

BLS-E Services Limited 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 listed peer is EMudhra Ltd with a P/E of 56.27.

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.

In consultation with the book running lead manager (BRLM), BLS E-Services IPO conducted a pre-IPO placement through a private placement of 11,00,000 equity shares for cash at a price of 125 per equity share, totalling 1,375 lakhs. The size of the fresh-issue of equity shares has been reduced to 2,30,30,000 equity shares.

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.

The registrar of the BLS E-Services IPO is Kfin Technologies Limited, while the book running lead manager is Unistone Capital Pvt Ltd.

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BLS E-Services IPO GMP today

BLS E-Services IPO GMP or grey market premium was +60. This indicates BLS E-Services share price were trading at a premium of 60 in the grey market, according to investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Nova Agritech IPO: Here are key risk factors to know before you subscribe to the issue

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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