
BLS E-Services is likely to finalize the basis of allotment for its recent public issue on Friday, February 2. Bidders are likely to receive messages, alerts or emails regarding debit of funds or revocations of IPO mandate over the extended weekend or latest by Monday, February 05. The digital service provision had received a solid response for its IPO.
BLS E-Services sold its IPO in the price band of Rs 129-135 per share with a lot size of 108 equity shares, between January 31 and February 1. The company raised Rs 310.90 crore through its primary offering, which was entirely a fresh share sale of up to 23,030,000 equity shares.
https://www.bseindia.com/investors/appli_check.aspx 2) Under the issue type, click Equity 3) Under the issue name, select BLS E-Services Limited in the dropbox 4) Write the application number 5) Add the PAN card ID
The issue was oversubscribed a whopping 162.40 times, thanks to solid buying interest from all categories of investors. The quota for non-institutional investors was subscribed 300.06 times while the portion reserved for retail investors was subscribed 236.66 times. The allocation for qualified institutional bidders was booked 123.30 times. Grey market premium (GMP) of BLS E-Services has seen a sharp rise following the bumper bidding for the issue. Last heard, the company was commanding a premium of Rs 175 per share, suggesting a listing pop of about 130 per cent for the investors. However, it was around Rs 155-160, when the issue was opened for bidding. Incorporated in April 2016, BLS-E Services is a digital service provider that offers business correspondence services to major banks in India, assisted E-Services, and E-Governance services at the grassroots level in India. They are the three key categories of its services in the country. Brokerage firms were mostly positive on the issue and suggested subscribing to it citing its strong financial performance, asset light model, deep rooted network in the pan-India market and service sector nature of the business. However, rich valuations and rising competition were seen as the major drawbacks for the IPO. Unistone Capital is the sole book running lead manager of the BLS E-Services IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed at the bourses on both BSE and NSE with Tuesday, February 06 as the tentative date of listing. Investors, who had bid for the issue of BLS E-Services, can check the allotment status on the Bombay Stock Exchange (BSE) website: 1) Visit6) Click on 'I am not a Robot' and hit submit
https://kosmic.kfintech.com/ipostatus), the registrar to the issue. The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries. 1) Go to the web portal of KFin Technologies Limited 2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized 3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID 4) In application type, select between ASBA and non-ASBA 5) Enter the details of the mode you selected in Step 2 6) For security purposes, fill the captcha accurately
Investors can also check the allotment status on the online portal of KFin Technologies Limited (7) Hit submit.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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