The initial public offering (IPO) date of BLS E-Services has been set for Tuesday, February 6, 2024. The allotment of the IPO was completed on Friday, February 2nd.
Those who have applied for the Book Build edition can check their application status online by logging in to KFin Tech. The initiation of the refund process for persons who did not receive shares began on the same day. The allottees will receive their shares in their demat accounts on the same day.
BLS E-Services IPO subscription status suggests that the public issue was subscribed more than 162 times within three bidding days, as per data available on BSE.
Let's look at what BLS E-Services IPO GMP signals today ahead of the listing.
BLS E-Services IPO GMP today
BLS E-Services IPO GMP or gray market premium is the same as yesterday's meeting where it was ₹159. This suggests that BLS E-Services' share price was trading at a premium of ₹159 on the gray market, according to investorgain.com.
Taking into account the upper end of the IPO price range and the current premium on the gray market, the estimated listing price of the BLS E-Services share has been included ₹294 per piece, which is 117.78% higher than the IPO price of ₹135.
“Gray market premium” indicates investors’ willingness to pay more than the issue price.
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Details about the IPO of BLS E-Services.
Details about the IPO of BLS E-Services
The IPO of BLS E-Services consists solely of fresh issue of shares worth ₹2,30,30,000 crore by the subsidiary of the listed company BLS International Services. There is no offering component to the IPO of BLS E-Services.
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 shares for cash at a price of ₹125 per share, total ₹1,375 Lakhs. The scope of newly issued shares was reduced to 2,30,30,000 shares.
The funds generated by the new issue will go towards strengthening our technology infrastructure to develop new capabilities and unify our current platforms. In addition, proceeds will support organic expansion initiatives, including the establishment of BLS branches, as well as drive inorganic growth through strategic acquisitions. These funds are also provided for general corporate purposes.
Unistone Capital Pvt Ltd is the book running lead manager of the IPO of BLS E-Services while Kfin Technologies Limited is the registrar for the issue.
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Published: Feb 04, 2024 12:43 PM IST
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