BLS E-Services Makes Blockbuster Debut, Shares Open with 126% Premium

BLS E-Services Limited, a subsidiary of BLS International Services, had a remarkable listing on the stock exchange today. The company’s shares opened with a staggering 126% premium at ₹305 on the NSE. This significant jump from the IPO price of ₹135 per share was highly anticipated by analysts, who had predicted a listing price between ₹300 and ₹320.

The BLS E-Services IPO witnessed tremendous response from both retail and non-institutional investors. The subscription status of the IPO reached a whopping 162.48 times on the final day of subscription. The IPO raised ₹125 crore from ten anchor investors before its official opening.

BLS E-Services’ IPO solely consisted of a fresh issue of 2,30,30,000 equity shares. There was no offer-for-sale component. The funds raised through the IPO will be utilized for the establishment of BLS Stores, potential acquisitions, general corporate purposes, and strengthening the technology infrastructure. Kfin Technologies Limited is the registrar for the IPO, while Unistone Capital Pvt Ltd is the book running lead manager.

The grey market premium (GMP) for BLS E-Services IPO remained strong at +155. The IPO GMP indicates that investors were ready to pay a premium of ₹155 per share over the IPO price. With the current momentum, the estimated listing price was projected to be ₹290, which is 114.81% higher than the IPO price.

The BLS E-Services IPO has received positive reviews from experts and broking companies. However, it is always recommended for investors to consult certified experts before making any investment decisions.