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 is a digital service provider that offers business correspondence services to major banks in India, assisted E-Services, and E-Governance services at the grassroots level in India.
The total promoter group’s stake will fall to around 69% after the IPO from 92.3%. The company offers a diverse set of services to banks and citizen-centric services. It has shown a sharp improvement in financials over the past three years. However, its valuation seems to be rich. Given these factors, long-term investors with high risk appetite may consider the IPO.