BLS E-Services Limited IPO: An Overview and Corporate Insight
BLS-E Services Limited is a digital service provider that was founded in April 2016 and provides Assisted E-Services, E-Governance Services at the grassroots level in India, and Business Correspondence services to major banks in the country.
The services that the company provides fall into three categories. services for business correspondents; assisted e-services; and e-government services.
Through its technology-enabled platform, the company, a subsidiary of BLS International Services Limited, offers state and provincial governments throughout Asia, Africa, Europe, South America, North America, and the Middle East visa, passport, and other citizen services. It is the only Indian listed business operating in this field.
Grey Market Premium Analysis and IPO Timelines – BLS E-Services IPO GMP
The BLS-E Services IPO GMP for today is rising and indicates a successful listing. The GMP ranges from ₹60 at the lowest to ₹160 at the maximum. The projected listing price for the BLS E-Services IPO is ₹280 (cap price + today’s GMP) with a price band of 135.00. A percentage gain or loss per share of 107.41% is anticipated.
|
Date |
GMP |
| 29-Jan-24 | ₹145 |
| 28-Jan-24 | ₹145 |
| 27-Jan-24 | ₹160 |
| 26-Jan-24 | ₹152 |
| 25-Jan-24 | ₹110 |
| 24-Jan-24 | ₹100 |
| 23-Jan-24 | ₹60 |
Pricing Details and Lot Size – BLS E-Services Limited IPO
The price band for BLS E-Services IPO is ₹129 to ₹135 per share.
Book-Running Lead Managers and Registrar – BLS E-Services Limited IPO
Unistone Capital Pvt Ltd is the dole Book Running Lead Manager (BRLM) to the issue while KFin Technologies Limited is the registrar for BLS E-Services IPO.
Offer for Sale and IPO Size Breakdown – BLS E-Services Limited IPO
The Rs 310.91 crore BLS E-Services IPO is a book-built offering. This is a completely new 2.3 crore share offering hence there is no Offer-For-Sale component.
IPO Price Band and Lot Size –BLS E-Services Limited IPO
BLS E-Services IPO is a book-built issue of Rs 310.91 crores. The issue is entirely a fresh issue of 2.3 crore shares. BLS Online Services The IPO price range for each share is ₹129 to ₹135. 108 Shares is the minimum lot size required for an application. Retail investors are required to invest a minimum of ₹14,580.
IPO Timelines at a Glance – BLS E-Services Limited IPO
| Event | Date |
| IPO Opening Date | January 30, 2024 |
| IPO Closing Date | February 1, 2024 |
| IPO Allotment Date | February 2, 2024 |
| Initiation of Refunds | February 5, 2024 |
| Credit of Shares to Demat | February 5, 2024 |
| IPO Listing Date | February 6, 2024 |
Utilisation of Fresh Issuance and Technological Advancements – BLS E-Services Limited IPO
The following goals are what the company plans to fund with the Net Proceeds:
- Enhancing the technological framework to provide new capabilities and combining the platforms already in place
- Financing plans for natural expansion through the establishment of BLS Stores
- Acquiring companies to achieve inorganic expansion
- General corporate purposes
Conclusion
BEL is a digital service provider that offers nearly all connected services under one roof, facilitated by one-stop technology. Taking into account the government’s “Digital India” initiative, this company has extremely promising future potential. Based on annualized FY24 earnings, the issue looks fully priced, but with significant infrastructure in place, it offers promising future growth. Investors may put money aside for potential medium- to long-term gains.
Frequently Asked Questions (FAQ) – BLS E-Services Limited IPO
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What does BLS E-Services Limited Ltd. specialise in?
BLS-E Services Limited is a digital service provider that was founded in April 2016 and provides Assisted E-Services, E-Governance Services at the grassroots level in India, and Business Correspondence services to major banks in the country.
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What is the primary purpose of BLS E-Services Limited’s IPO?
The main goal is to enhance the technologically framework which will provide the company with new capabilities and combine the existing platforms.
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Who are the lead managers for BLS E-Services Limited’s IPO?
Unistone Capital Pvt Ltd is the dole Book Running Lead Manager (BRLM) to the issue.
- How is the IPO structured in terms of new issuance and offer for sale (OFS)?
The Rs 310.91 crore BLS E-Services IPO is a book-built offering. This is a completely new 2.3 crore share offering hence there is no Offer-For-Sale component.
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What is the lot size and minimum investment for retail investors in BLS E-Services Limited IPO?
BLS E-Services IPO lot size is 108 equity shares and in multiples of 108 equity shares thereafter.
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What is the price band for BLS E-Services Limited IPO?
The price band for BLS E-Services IPO is ₹129 to ₹135 per share.
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How has the Grey Market Premium (GMP) trended for BLS E-Services Limited IPO?
The GMP for today is Rs.145.
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When does the IPO open and close for subscription?
BLS E-Services IPO will open for subscription on January 30 and close on February 1.
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When is the allotment date for BLS E-Services Limited IPO?
The allotment date is set for February 2 2024.
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When is BLS E-Services Limited expected to be listed on the stock exchanges?
The anticipated listing date for BLS E-Services Limited IPO is February 6 2024 on the BSE and NSE mainboards.
