BLS E-Services IPO oversubscribed within first hour of bidding:
The BLS E-Services Initial Public Offering (IPO) has seen a solid subscription, with the retail investor segment showing huge interest within minutes of the subscription window opening. The IPO’s retail portion was oversubscribed, reaching full subscription within the first hour of the bidding process. As per Bombay Stock Exchange (BSE) data, the BLS E-Services IPO subscription status is at an impressive 15.67 times.
On the first day of BLS E-Services IPO, the retail investor portion saw huge demand, reaching a subscription level of 49.40 times. Non-Institutional Investors (NII) also showed keen interest, subscribing at 29.70 times. Qualified Institutional Buyers (QIB) showed a solid response, with a subscription rate of 2.19 times. Additionally, the portion reserved for shareholders was booked 2.80 times.
The BLS E-Services IPO, which opened for subscription on January 30, 2024 is scheduled to close on Thursday, February 01. Prior to the IPO launch, the company successfully raised ₹125 crore from ten anchor investors on January 29.
Investors were offered shares in the price band of ₹129 to ₹135 per equity share, each having a face value of ₹10. The lot size for the BLS E-Services IPO is set to be108 equity shares, with multiples available in increments of 108 equity shares.
As the subscription status shows a huge demand from investors, BLS E-Services Limited appears set for a successful market debut. The IPO’s oversubscription highlights the confidence and positive sentiment surrounding the company and its growth prospects in the market.
BLS E-Services, a subsidiary of BLS International, stands as a leading technology-enabled digital service provider in India, providing a diverse range of services that encompass Business Correspondent services, Assisted E-services, and E-Government Services. These offerings are all focussed towards grass-roots empowerment, revolutionizing how essential services are accessed.
Through its robust network, BLS E-Services plays a pivotal role in ensuring access to a wide spectrum of essential public utility services, social welfare programs, healthcare, finance, education, agriculture, and banking services.
This variety of services caters to governments (G2C) and businesses (B2B), while also catering to the diverse needs of citizens (B2C) across urban, semi-urban, rural, and remote areas. Operating within a unique integrated business model, BLS E-Services bridges the digital gap in areas with low internet penetration by offering both digital and physical solutions.