BLS E-Services IPO: The BLS E-Services IPO started today, January 30. As soon as it opened, it got a lot of interest from investors and got fully subscribed.
By 12.00 noon, the IPO was subscribed 4.39 times. In the retail category, it received a subscription of 14.82 times, while in the Qualified Institutional Investors category, it was 2.04 times.
Non-institutional investors showed interest with a subscription of 4.88 times.
Investors seem attracted to this IPO, possibly due to a strong gray market premium. Let’s dive into the details.
Price Range
The company set the price band for its shares at Rs 129 to Rs 135 per share, with a face value of Rs 10.
A lot comprises 108 shares, requiring investors to invest a minimum of Rs 14,850. Retail investors can bet on a maximum of 1404 shares.
Gray Market Performance
In the gray market, BLS e-Services IPO is performing well, trading at a premium of Rs 158 on Tuesday.
Investors are hopeful that their investment will double on the first day.
If the gray market trend continues, the company might debut in the stock market at around Rs 300, significantly higher than the issue price.
IPO Details
The size of BLS e-Services IPO is Rs 310.91 crore, and the company plans to issue 2.3 crore fresh shares through the IPO. Investors have the opportunity to place their bets until February 1. The company is expected to be listed on the stock market on February 6, 2024.
