BLS E-Services IPO Opens Today: Grey Market Premium, Price, and Key Details

The initial public offering (IPO) of BLS E-Services Limited has commenced its journey in the primary market, with the bidding process set to conclude on February 1, 2024. BLS E-Services, a digital service provider, has set the IPO price band at ₹129 to ₹135 per equity share, aiming to raise ₹310.91 crore from the public offer. The company plans to list its shares on both BSE and NSE.

In the grey market, shares of BLS E-Services are trading at a premium of ₹146, indicating a positive sentiment and potential for multibagger returns, according to market observers.

Key Details:

1. BLS E-Services IPO GMP: The Grey Market Premium (GMP) for BLS E-Services stands at ₹146, showcasing investor confidence.
2. BLS E-Services IPO Price: The price band for the public issue is set at ₹129 to ₹135 per equity share.
3. BLS E-Services IPO Date: The book build issue commenced today and will conclude on February 1, 2024.
4. BLS E-Services IPO Size: The company aims to raise ₹310.91 crore through the issuance of fresh shares.
5. BLS E-Services IPO Lot Size: One lot of the book build issue comprises 108 company shares.
6. BLS E-Services IPO Allotment Date: Share allocation is expected to be finalized on February 2, 2024.
7. BLS E-Services IPO Registrar: KFin Technologies Limited is appointed as the official registrar for the book build issue.
8. BLS E-Services IPO Listing: The public offer is proposed for listing on both BSE and NSE.
9. BLS E-Services IPO Listing Date: Following the T+3 listing rule, the public issue is likely to debut on the secondary market on February 6, 2024.

To Apply or Not:

Analysts at Anand Rathi have given a ‘subscribe’ recommendation for the IPO, citing BLS E-Services’ asset-light business model, diverse revenue sources, and experienced management. The company is valued at a P/E of 60.0x at the upper price band.

BP Equities also recommends a ‘subscribe’ rating, emphasizing the company’s revenue growth, EBITDA, and PAT margins. The PE ratio is deemed reasonable compared to industry peers.

Canara Bank Securities, Reliance Securities, Ventura Securities, and Swastika Investmart have also provided a ‘subscribe’ tag, indicating positive outlooks on the BLS E-Services IPO.

Investors are advised to consider these perspectives and conduct their due diligence before deciding whether to apply for the IPO.