BLS E-Services initial public offering (IPO) listing date has been fixed for Tuesday, February 6, 2024. The allotment of the IPO was finalised on Friday, February 2.
Those who have applied for the book build issue can check their application status online by logging in at the KFin Tech. The initiation of the refund process has commenced on the same day itself for individuals not given shares. Those allotted will receive their shares in their demat accounts on the same day itself.
In three days of bidding, the BLS E-Services IPO subscription status suggests that the public issue got subscribed over 162 times, as per data available on BSE.
Let’s check what does BLS E-Services IPO GMP today signal ahead of listing.
BLS E-Services IPO GMP today
BLS E-Services IPO GMP or grey market premium is same as yesterday’s session where it was ₹159. This indicates BLS E-Services share price were trading at a premium of ₹159 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 ₹294 apiece, which is 117.78% higher than the IPO price of ₹135.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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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 funds generated from the new issue will be directed towards fortifying our technological infrastructure to cultivate new capabilities and unifying our current platforms. Additionally, the proceeds will support initiatives for organic expansion, involving the establishment of BLS stores, as well as fueling inorganic growth through strategic acquisitions. These resources will also be allocated for general corporate purposes.
Unistone Capital Pvt Ltd is the book running lead manager of the BLS E-Services IPO, while Kfin Technologies Limited is the registrar for the issue.
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Published: 04 Feb 2024, 12:43 PM IST
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