BLS E-Services IPO Oversubscribed: Retail Portion Sees Major Demand

31 Jan 2024 , 05:17 AM

BLS-E Services is a digital service provider that provides aided E-Services, E-Governance services at the grassroots level in India, and business correspondence services to major Indian banks.

On the second day of the bidding process, investors continued to respond favourably to BLS E-Services’ initial public offering (IPO), with the majority of these investors being non-institutional and retail. On the first day of the auction, which began on Tuesday, January 30, the issue was booked almost sixteen times.

BLS E-Services IPO was oversubscribed by 42.80 times. By January 31, 2024, 5:11:00 PM, the public issue had been subscribed 125.55 times in the retail category, 2.68 times in the QIB category, and 94.11 times in the NII category.

23,030,000 equity shares are being issued as part of the BLS E-Services IPO. Retail investors are offered 2,072,700 shares in the issuance, qualifying institutional buyers are offered 6,218,154 shares, and non-institutional investors are offered 3,109,050 shares.

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