BLS E-Services IPO was subscribed 2.43 times with the retail category oversubscribed 10.44 times and NII portion oversubscribed by 3.35 times. The company raised Rs 126 crore from anchor investors. Analysts recommend subscribing to the issue. The company s revenue grew at 94% CAGR in FY21. Proceeds from the IPO to be used for technology infrastructure, organic and inorganic growth initiatives.
BLS E-Services IPO opens for subscription on Tuesday and will close on February 1. The company raised Rs 126 crore from anchor investors. BLS E-Services plans to raise around Rs 311 crore through the public offer. The IPO price band is Rs 129-135 per share. Analysts advise subscribing to the issue for listing gains as well as long-term.
BLS E-Services GMP is around Rs 145, 107% higher than the issue price of Rs 135. The issue is being made public through the book-building process, where 75% of the offer is reserved for qualified institutional buyers, 10% for retail investors and 15% for non-institutional investors.