BLS-E Services IPO listing: BLS-E Services stock market debut
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The stock performance of BLS-E Services:
The Indian stock market saw the debut of BLS-E Services Limited today. It is a digital service provider that provides Business Correspondence services to India's largest banks, as well as Assisted E-Services and E-Government Services at the local level in India.
BLS-E Services share price surge:
The stock opened on the BSE at Rs 309 per share, which is a huge 129% increase from its final issue price of Rs 135 per share. The BSE says that the market value of the company is Rs 2807 crore. At the same time, the stock started trading on the NSE at Rs 305 per share, which is 126% more than its final issue price.
- The following are the ways the company plans to use the Net Proceeds:
- Improving the infrastructure of technology to enable new functions and combining existing platforms.
- Investing funds into projects that will lead to organic growth, such as opening BLS Stores
- Trying to grow using inorganic methods by buying other businesses.
- Meeting the overall goals of the company
Business Profile:
BLS-E Services Limited is a digital service provider in India that helps small and medium-sized businesses access e-government services and provides Business Correspondence services to India's biggest banks. It offers three types of services: (i) Business Correspondents Services, (ii) Assisted E-Services, and (iii) E-Governance Services.
The company, which is a branch of BLS International Services Limited, uses its technology-enabled platform to help state and provincial governments in Asia, Africa, Europe, South America, North America, and the Middle East with visa, passport, consular, and other citizen services. It is India's only publicly traded company working in this field.
Subscriber information:
As per the BLS-E Services market debut update, with a subscription rate of 162.38 times on February 1, 2024, the last day of the IPO window, the offering got a lot of attention. It was a very popular issue; the retail category was subscribed to 236.53 times, while the QIB and NII categories were subscribed to 123.30 and 300.05 times, respectively.
Prices for the initial public offering (IPO) ranged from Rs 129 to Rs 135. Each share had a face value of 10 rupees and was 108 shares in a lot. The company's initial public offering (IPO) raised a total of 310.91 crore rupees, and each share was ultimately sold for 135 rupees.
