The shares of BLS E-Services will debut on the exchanges on Tuesday, February 6. Ahead of the listing, the company’s shares are trading at a premium of Rs 145-159 in the unlisted market.

If the current trends sustain, the company’s shares are expected to list at a premium of 117%. The IPO was priced at Rs 135 at the upper end.

However, it is important to note that grey market premiums are just an indicator of how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.

“With its strong fundamentals, positive investor sentiment, and promising outlook, the company is poised for a positive market debut. Remember, however, that careful evaluation and risk management are crucial for every investment,” said Shivani Nyati, Head of Wealth at Swastika Investmart.

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BLS E-Services IPO subscription

BLS E-Services received a bumper response from investors. The issue was subscribed over 160 times, driven by strong interest from all the categories. The NII portion of the issue was subscribed the most at 300 times, followed by retail investors at 236 times and QIB part at 123 times.

BLS E-Services IPO Objective

Net proceeds from the fresh issue will be used for strengthening its technology infrastructure to develop new capabilities and consolidating its existing platforms, funding initiatives for organic growth by setting up BLS stores and achieving inorganic growth through acquisitions and general corporate purposes.

BLS E-Services is a technology-enabled digital service provider, offering business correspondent services to major banks in India, assisted e-services and e-governance services at grassroots levels.

Through its robust network, the company provides access points for the delivery of essential public utility services, social welfare schemes, healthcare, financial, educational, agricultural and banking services for governments and businesses alike in addition to a host of B2C services.

BLS E-Services Financials

In FY23, the company’s income increased 151% year-on-year to Rs 246 crore, while profit jumped 278% to Rs 20.33 crore. For the six months ended September 2023, total income stood at Rs 158 crore and profit was at Rs 14.68 crore.


Unistone Capital is acting as the sole book-running lead manager to the IPO, while Kfin Technologies is the registrar.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

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