BLS E-Services Ltd IPO: Check Opening & Closing Dates, Price Band, Lot Size, GMP, And Other Details

New Delhi: Technology-driven service provider BLS E-Services Ltd is gearing up for its Initial Public Offering (IPO). Taking a step forward, the company has finalized the price range for its upcoming IPO.  As per the information, the company IPO's price band will be Rs 129-135 per share.

BLS E-Services Ltd IPO: Opening And Closing Date

The IPO is scheduled to be open for public subscription from January 30 to February 1, 2024. (Also Read: Latest SBI Fixed Deposit Rates 2024: Check How Much Return You Will Get)

BLS E-Services Ltd IPO: Lot Size

During this period, interested investors can bid for a minimum of 108 equity shares, with multiples of 108 thereafter. (Also Read: Foxconn's CEO Young Liu Awarded Prestigious Padma Bhushan Award: Check A-Z About Him)

BLS E-Services Ltd IPO: Other Details

BLS E-Services Ltd plans to offer up to 2.3 crore equity shares in the IPO, excluding pre-IPO placements. Additionally, there will be an anchor investor bidding on January 29, 2024.

BLS E-Services Ltd IPO: Grey Market Premium Details

Unlisted shares of BLS E-Services Ltd are reportedly trading Rs 142 higher in the grey market compared to its issue price. The grey market premium (GMP) is a noteworthy Rs 142, indicating a significant 105.19 percent listing gain expectation.

The GMP, subject to market sentiments, reflects investors' willingness to pay more than the IPO issue price.

BLS E-Services Ltd IPO: Utilization Of Funds

The company intends to utilize the net proceeds from the fresh issue of equity shares for several purposes. This includes strengthening its technology infrastructure, developing new capabilities, consolidating existing platforms, funding initiatives for organic growth through the establishment of BLS Stores, achieving inorganic growth through acquisitions, and covering general corporate expenses.