The share price of BLS E-Services made a spectacular debut on the exchanges today. The share price of BLS E-Services was ₹305 on the NSE, which was 125.93% more than the ₹135 issue price. The price of each BLS share was listed on the BSE today at ₹309, up 128.89% from the issue price. Analysts predicted that the listing price for BLS E-Services might be between ₹300 and ₹320 per share, which would yield a multi-bagger return, given that the IPO price band is ₹129 to ₹135 per equity share.
The three days of the BLS E-Services IPO saw a resounding response from non-institutional and retail investors alike. According to NSE data, the subscription status for the BLS E-Services IPO on day three was 162.48 times. At its IPO on Monday, January 29, BLS E-Services raised ₹125 crore from ten anchor investors. The subscription period for the BLS E-Services IPO began on Tuesday, January 30, and ended on Thursday, February 1.
Details of the BLS E-Services IPO
The only component of the BLS E-Services IPO is the subsidiary of the listed company BLS International Services’ fresh issue of 2,30,30,000 crore equity shares. The BLS E-Services IPO does not contain an offer-for-sale section. BLS E-Services IPO carried out a pre-IPO placement through a private placement of 11,00,000 equity shares for cash at a price of ₹125 per equity share, totaling ₹1,375 lakhs, in consultation with the book running lead manager (BRLM). The number of equity shares available for fresh issuance has been lowered to 2,30,30,000.
The company plans to finance general corporate purposes, the acquisition of businesses to achieve inorganic growth, the development of new capabilities and the consolidation of existing platforms through the strengthening of the technology infrastructure, and the opening of BLS Stores to foster organic growth. Kfin Technologies Limited is the registrar for the BLS E-Services IPO, and Unistone Capital Pvt Ltd is the book running lead manager.
Today’s IPO GMP for BLS E-Services
Grey market premium (GMP) for the BLS E-Services IPO is +155, which is unchanged from the previous session. The GMP has declined in the previous two sessions. This suggests that, according to investorgain.com, the price of BLS E-Services shares were trading at a premium of ₹155 on the black market. Taking into account the higher end of the IPO price range and the current premium in the grey market, the estimated listing price of BLS E-Services Limited shares was indicated at ₹290 each, representing a 114.81% increase over the ₹135 IPO price.
Analysts at investorgain.com predict a strong listing for today’s IPO GMP based on the last 15 sessions of grey market activity. ₹60 is the lowest GMP and ₹175 is the highest. A “grey market premium” denotes the willingness of investors to part with more money than the issue price.
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