After the closure of subscription yesterday, the basis of allotment for the Initial Public Offering (IPO) of the BLS E-Services Limited will be finalised today on February 02, 2024, according to the timeline noted in the red-herring prospectus the company filed with SEBI. Kfin Technologies Limited, the registrar to the BLS E-Services IPO will oversee the allotment process and the investors may check the status through its website by tonight or early tomorrow morning.
Subscription status
The initial public offering of BLS E-Services was subscribed overall 162.31 times by the end of its subscription window. The issue was open between January 30, 2024 to February 01, 2024. The Rs 310.91 crore book built issue comprises of a fresh issuance of 2.3 crore equity shares with price band at Rs 129 to Rs 135.
Of the total, retail portion was subscribed 236.18 times whereas the QIBs and NIIs portion was subscribed 123.30 times and 300 times respectively. Put together, the public issue received about 39.55 lakh applications. The subscription numbers almost doubled on the third day. The shareholder quota was subscribed 15.28 times.
Allotment of Shares on February 02, 2024
The basis of allotment for BLS E-Services IPO will be finalised today on February 02, 2024 (Friday), following which the refunds as well as credit of shares to the investors will take place on February 05, 2024 (Monday).
The investors who placed bids for the BLS E-Services IPO may check the allotment status of their applications by visiting the website of issue registrar Kfin Technologies Limited. The IPO allotment status can be checked through PAN, application number or Demat account details.
Steps to check the allotment status:
- Visit registrar Kfin Technologies Limited website
- Enter any of the details – PAN, Demat account or application number
- Submit the request to view the status.
Listing on February 07, 2024
BLS E-Services Limited is scheduled to list on the primary stock exchanges of BSE and NSE on February 06, 2024. The IPO Price is Rs 135 at the upper range.
Founded in 2016, BLS e-Services is a subsidiary of BLS International and provides digital services offering business correspondents, assisted e-services and e-governance services to major banks and other corporations in India. The company had posted a revenue of Rs 246.29 crore in FY23 over Rs 98.40 crore in FY22. The profits also increased to Rs 20.33 crore in FY23 from Rs 5.38 crore in FY22. In the period ended September 2023, the company posted a profit of Rs 14.68 crore on a revenue of Rs 158.05 crore. The company has said that it plans to utilise the funds from the issue towards strengthening its infrastructure and also for growth and expansion. All proceeds from the issue will go to the issue as there is no offer for sale.
