The initial public offering (IPO) of BLS E-Services Limited has entered the primary market, with bidding open until February 1, 2024.
Pricing Details and Market Expectations
The digital service provider company has set the BLS E-Services IPO price band at ₹129 to ₹135 per equity share. In the grey market, shares are currently trading at a premium of ₹146, indicating high expectations for returns.
Subscription Status and Market Response
The book build issue garnered substantial interest, becoming fully subscribed within an hour of its opening. As of 12:21 PM on the first day of bidding, the overall subscription stands at 4.82 times, with the retail portion oversubscribed at 16.63 times. Notably, the NII portion is subscribed 5.51 times, while the QIB portion is at 2.04 times.
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Key BLS E-Services IPO Details
- BLS E-Services IPO GMP (Grey Market Premium): ₹146, indicating strong market interest.
- BLS E-Services IPO Price: ₹129 to ₹135 per equity share.
- BLS E-Services IPO Date: Opened today, closing on February 1, 2024.
- BLS E-Services IPO Size: Aiming to raise ₹310.91 crore through the issuance of fresh shares.
- BLS E-Services IPO Lot Size: One lot comprises 108 company shares.
- BLS E-Services IPO Allotment Date: Expected on February 2, 2024.
- BLS E-Services IPO Registrar: KFin Technologies Limited is the official registrar.
- BLS E-Services IPO Listing: Proposed for listing on BSE and NSE.
- BLS E-Services IPO Listing Date: Expected on February 6, 2024, following the T+3 listing rule.
Expert Recommendations
Various financial experts provide insights on the BLS E-Services IPO:
Anand Rathi’s Perspective:
Anand Rathi recommends a ‘SUBSCRIBE- Long term’ rating, citing an asset-light business model, wide customer reach, and fair valuations.
BP Equities’ Analysis:
BP Equities suggests a ‘SUBSCRIBE’ rating, highlighting the company’s revenue growth, strong margins, and reasonable PE ratio compared to industry peers.
In conclusion, both expert opinions lean towards a positive outlook for potential investors in the BLS E-Services IPO.
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