BLS E-Services IPO Opens Today: Subscription Status, Review, and Other Details

The initial public offering (IPO) of BLS E-Services Limited has commenced today, offering an opportunity for investors to participate in the company’s growth. BLS E-Services, a digital service provider, has set the price band for its IPO at ₹129 to ₹135 per equity share. The company aims to raise ₹310.91 crore through this public offer, with the book build issue planned for listing on NSE and BSE.

On the grey market, where shares of BLS E-Services are available for trade, the stock is quoting at a premium of ₹146, indicating high expectations for returns from this IPO.

The book build issue has seen strong demand, with the subscription status showing that it has already been subscribed 4.82 times within the first hour of bidding. The retail portion of the IPO has witnessed an overwhelming response, being subscribed 16.63 times, while the non-institutional investor (NII) portion has been subscribed 5.51 times and the qualified institutional buyer (QIB) portion 2.04 times.

The IPO lot size for BLS E-Services is 108 shares, allowing investors to apply in lots. The allotment date for this IPO is expected to be on 2nd February 2024, with the listing following the T+3 rule and projected to take place on 6th February 2024.

Analysts and broking firms have given a positive review to the BLS E-Services IPO. Anand Rathi has recommended a ‘subscribe’ rating, highlighting the company’s asset light business model, wide reach for customer acquisition, and diverse sources of revenue. BP Equities also suggests subscribing to the IPO, noting the high revenue growth and reasonable valuations compared to peers in the industry. Other firms like Securities, Reliance Securities, and Ventura Securities have also given a ‘subscribe’ tag to this public issue.

It is important to note that the views and recommendations mentioned above are those of individual analysts and experts. Investors are advised to consult certified experts before making any investment decisions.