BLS E-Services IPO Details: The subscription period for the initial public offering (IPO) of BLS E-Services Ltd (BESL) is set to commence on Tuesday, January 30, and will conclude on February 1, 2024.
Before the subscription opening, there is notable demand for BLS E-Services shares in the grey market, commanding a premium double that of the IPO price.
BLS E-Services IPO
The offer is entirely a fresh issue of 2.3 crore equity shares.
The issue will be available at a price band of Rs 129-135 per share. At the upper end of the price band, the IPO will mobilise Rs 311 crore.
The company proposes to utilise net proceeds from the fresh issue to strengthen its technology infrastructure to develop new capabilities and consolidate its existing platforms, among others.
The money will also be used to fund initiatives for organic growth by setting up BLS Stores, achieve inorganic growth through acquisitions and for general corporate purposes.
BLS E-Services IPO GMP
The grey market premium (GMP) for BLS E-Services stands at approximately Rs 158, reflecting a 117% increase over the issue price of Rs 135. However, It’s crucial to emphasise that Grey GMPs serve as indicators of the company’s shares in the unlisted market and are susceptible to rapid changes.
Meanwhile, the company on Monday mobilised Rs 126 crore from anchor investors a day before its IPO.
The company has allotted 93.27 lakh equity shares to 10 funds for Rs 135 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website.
Sixteenth Street Asian Gems Fund, Saint Capital Fund, Silver Stride India Global Fund, Aries Opportunities Fund, Aidos India Fund are among the anchor investors that have been allotted shares.
BLS E-Services Listing
The basis of allotment is expected to be concluded by February 2, with shares slated to be credited to demat accounts by February 5. The stock is scheduled to be listed on both the NSE and BSE on February 6.
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