BLS E Services IPO: 10 Things To know Before Subscribing

The BLS-E Services IPO is set to open for subscription from January 30 to February 1. This digital service provider has priced its IPO at ₹129 to ₹135 per share, aiming to raise ₹310.91 crore. The proceeds will finance new BLS Stores, business acquisitions, and technology upgrades. The allocation includes 75% for institutional buyers, 15% for non-institutional investors, and 10% for retail investors, with a minimum bid of 108 shares. BLS International shareholders get a ₹7 discount per share. Notably, BLS-E Services, operating in visa and passport services, is the only listed company in this sector in India. As of September 30, 2023, it reported a net profit of Rs 14.68 crore and revenue of Rs 158.05 crore. The grey market anticipates a strong performance, with shares quoting at a premium. The IPO allotment will be finalized on February 2, with listings on BSE and NSE expected by February 6.