Key IPO Details:
The BLS-E Services IPO aims to raise approximately ₹310.91 crores through a combination of a fresh issue and an offer for sale. The IPO window opens on January 30 and closes on February 1, offering investors a limited timeframe to participate. The company plans to issue equity shares at a face value of ₹10 each within a price band of ₹129 to ₹135 per share.
Company Overview:
BLS-E Services Limited is a tech-enabled digital service provider, catering to diverse sectors such as Business Correspondent services, Assisted E-services, and E-Governance Services. With a focus on providing essential public utility services, healthcare, financial, educational, agricultural, and banking services, BLS-E Services operates in urban, semi-urban, rural, and remote areas.
Financial Snapshot:
Reviewing the company’s financial performance, the figures for the fiscal year 2023 reveal robust growth. With a revenue of ₹246.29 crores and a profit after tax (PAT) of ₹20.33 crores, the company has demonstrated steady progress. The earnings per share (EPS) stand at ₹3.02, reflecting a positive outlook.
Objectives of the IPO:
The proceeds from the IPO are earmarked for strengthening the technology infrastructure, funding initiatives for organic growth through the setup of BLS Stores, achieving inorganic growth through acquisitions, and addressing general corporate purposes.
IPO Application and Allotment:
Investors can apply for the BLS-E Services IPO during the window period using the ASBA facility. The minimum market lot is set at 108 shares with a retail investor cap of 13 lots. The IPO allotment is scheduled for February 2, 2024, and the listing on both BSE and NSE is set for February 6, 2024.
Conclusion:
As the financial markets await the BLS-E Services IPO, it presents an intriguing opportunity for investors. Aseeb CBT, expressing confidence in the company’s prospects, plans to apply for the IPO. Stay tuned for updates on this dynamic market event, and for more insightful content, subscribe to Aseeb Cbt YouTube channel
Disclaimer: Investing in IPOs involves risks, and readers are advised to conduct their own research before making investment decisions.