If you’re interested in investing money in a new opportunity, there’s a special chance for you. BLS E-Services, a digital service provider, is launching its IPO next week, and they’ve set a price range for their shares.
People are already talking about it in the market, and investors are hopeful for good returns. If you’re thinking about investing, here are the details.
The company, BLS E-Services, aims to raise Rs 310.91 crore through its IPO. They are offering new shares, and none of the current owners are selling their stake.
The share price in the IPO is set between Rs 129 and Rs 135 per share. The company plans to sell a total of 23,030,000 equity shares.
Here are some important dates to keep in mind
1) The IPO opens on January 30, 2024 (Tuesday).
2) Investors can bid until February 1, 2024.
3) Share allocation will take place on February 2, 2024.
4) Investors who don’t get allocated shares will receive a refund by February 5, 2024.
5) Successful subscribers will receive their money in their demat accounts by February 5, 2024.
6) The shares will be listed on BSE and NSE on February 6, 2024.
The IPO is creating a buzz in the gray market. The Grey Market Premium (GMP) is expected to be around Rs 245 per share on the listing day, with a premium of Rs 110, which is 81.48 percent.
For those interested, the company has reserved 10 percent of the shares for retail investors, 15 percent for high net worth individuals, and 75 percent for the most qualified institutional buyers.
Now, what does the company do?
BLS E-Services provides electronic services for various platforms, such as IRCTC Train Tickets, Passport, Ayushman Bharat Card, PAN Card, Nepal Money Transfer, Insurance, and Flipkart. In the financial year 2021, the company made a profit of Rs 3.15 crore. This increased to Rs 20.33 crore in the financial year 2023, with total earnings reaching Rs 246.29 crore in the same year.
