Dream stock market debut for BLS E-Services; shares zoom nearly 129%

PTI, Feb 6, 2024, 11:14 AM IST

Representative image (Source: Pexels)

Shares of BLS E-Services Ltd listed with a huge premium of nearly 129 per cent against the issue price of Rs 135.

The stock made its debut at Rs 309, climbing 128.88 per cent from the issue price on the BSE. It further zoomed 157.70 per cent to Rs 347.90.

At the NSE, it listed at Rs 305, a gain of 125.92 per cent.

The company’s market valuation stood at Rs 2,919.22 crore.

The Initial Public Offer (IPO) of BLS E-Services received a whopping 162.48 times subscription on the last day of bidding on Thursday.

The IPO of fresh issue of up to 2,30,30,000 equity shares had a price range of Rs 129-135 a share.

The Rs 311-crore initial share sale of BLS E-Services Ltd was fully subscribed within minutes of opening for bidding on Tuesday.

The company is a leading technology-enabled digital service provider, offering business correspondent services to major banks in India, assisted e-services; and e-governance services at grass-root levels in the country.

BLS E-Services is a subsidiary of BLS International Services Ltd, which offers visa and consular services.

The company proposes to utilise net proceeds from the fresh issue to strengthen its technology infrastructure to develop new capabilities and consolidate its existing platforms, among others.

The money will also be used to fund initiatives for organic growth by setting up BLS Stores, achieve inorganic growth through acquisitions and for general corporate purposes.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Mumbai-bound IndiGo flight receives bomb threat message; lands safely

Neeraj Chopra dazzles with gold at Paavo Nurmi Games

Former Sri Lanka cricketer Muralitharan to invest Rs 1,400 Crore in beverages unit in Karnataka

Minister M B Patil to meet Union Minister Kumaraswamy on developing semiconductor industry

BJP-JD(S) won more seats in Karnataka due to EVMs: Deputy CM Shivakumar

Delhi Police to file charge sheet against Arundhati Roy next week: Sources

PM Modi’s monthly radio broadcast ‘Mann Ki Baat’ to resume from June 30

Related Articles More

Too premature to shift RBI policy stance; any form of adventurism has to be shunned: Shaktikanta Das

Sensex, Nifty hit fresh record high levels

Fitch Ratings raises India’s growth estimates for FY25 to 7.2%

Sensex, Nifty hit new all-time high levels in early trade

RBI cancels licence of Purvanchal Co-op Bank, Ghazipur




Mental Illness | Causes | Symptoms and Treatment

Minister Thimmapura statement

Vishweshwar Hegde Kageri

Latest Additions

People watch as jilted lover bludgeons woman to death on road

Mumbai-bound IndiGo flight receives bomb threat message; lands safely

Rameshwaram Cafe Blast case: NIA detains Sirsi-based man

Clear payment within 10 days or I will file lawsuit against you: Stimac warns AIFF

Biden offers legal status to 500K immigrants

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.