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BLS E-Services IPO: Retail Investor Magic, Issue oversubscribed on day 1



BLS E-Services IPO subscription status: Within minutes of taking off, the retail investor response to the BLS E-Services IPO was overwhelmingly positive. The retail portion of the BLS E-Services IPO was oversubscribed, and eventually the issue was fully booked in the first hour itself. BLS E-Services IPO subscription status is 11.77 times so far, as per data available on BSE.


On day 1 so far at 15:57 IST, BLS E-Services IPO's retail investors portion was subscribed to 41.41 times, Non Institutional Investors (NII) portion was subscribed to 18.63 times, and Qualified Institutional Buyers (QIB) portion is booked 2.07 times. The portion reserved for the shareholder has been booked 2.02 times.


BLS E-Services IPO, on Monday, January 29 raised ₹125 crore from ten anchor investors. BLS E-Services IPO has opened for subscription today (Tuesday, January 30), and will close on Thursday, February 01.

BLS E-Services Limited IPO price band has been fixed in the range of ₹129 to ₹135 per equity share of the face value of ₹10. BLS E-Services IPO lot size is 108 equity shares and in multiples of 108 equity shares thereafter.


BLS E-Services Limited IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. A discount of ₹7 per equity share is being offered to BLS International shareholders reservation portion.


BLS E-Services IPO has received bids for 16,12,78,452 shares against 1,37,02,904 shares on offer, at 15:57 IST, according to data from the BSE.

BLS E-Services IPO retail investors' portion received bids for 8,58,40,128 shares against 20,72,700 shares on offer for this segment.

BLS E-Services IPO's non-institutional investors' portion received bids for 5,79,07,440 shares against 31,09,050 on offer for this segment.


BLS E-Services IPO's QIBs portion received bids for 1,28,75,112 shares against 62,18,154 shares on offer for this segment.

BLS E-Services IPO's shareholder portion received bids for 46,55,772 shares against 23,03,000 shares on offer for this segment.


BLS E-Services IPO details

BLS E-Services IPO solely comprises of fresh issue of 2,30,30,000 crore equity shares by the subsidiary of the listed business BLS International Services. There is no offer-for-sale component to the BLS E-Services IPO.

In consultation with the book running lead manager (BRLM), BLS E-Services IPO conducted a pre-IPO placement through a private placement of 11,00,000 equity shares for cash at a price of ₹125 per equity share, totalling ₹1,375 lakhs. The size of the fresh-issue of equity shares has been reduced to 2,30,30,000 equity shares.

The company intends to use the net proceeds to finance the establishment of BLS Stores as a means of promoting organic growth, the acquisition of businesses to achieve inorganic growth, general corporate purposes, and strengthening the technology infrastructure to develop new capabilities and consolidate the current platforms.

The registrar of the BLS E-Services IPO is Kfin Technologies Limited, while the book running lead manager is Unistone Capital Pvt Ltd.


BLS E-Services IPO GMP today

BLS E-Services IPO GMP, or grey market premium, is +158, similar to the previous session. So far, the GMP has been rising. This indicates BLS E-Services share price were trading at a premium of ₹158 in the grey market, according to investorgain.com.


Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of BLS E-Services share price was indicated at ₹293 apiece, which is 117.04% higher than the IPO price of ₹135.

Based on the last eight sessions of grey market activity, today IPO GMP points upward and expects a strong listing, as per analysts at investorgain.com. The lowest GMP is ₹60, while the highest GMP is ₹160.

'Grey market premium' indicates investors' readiness to pay more than the issue price.



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