Unlisted shares of BLS E-Services Ltd are trading Rs 142 higher in the grey market, which is a 105.19 per cent listing gain from the public issue
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BLS E-Services IPO: Technology-backed service provider BLS E-Services Ltd has fixed a price band of Rs 129-135 per share for its initial public offering (IPO), which will be opened for public subscription between January 30 and February 1, 2024.
BLS E-Services Ltd is offering up to 2.3 crore equity shares, excluding pre-IPO placement in the offering. Anchor investor bidding will be on January 29, it added.
Investors can bid for a minimum of 108 equity shares and in multiples of 108 thereafter, the company said.
“The company proposes to utilise net proceeds from fresh issue of equity shares to strengthen its technology infrastructure to develop new capabilities and consolidate its existing platforms; funding initiatives for organic growth by setting up of BLS Stores; achieving inorganic growth through acquisitions; and general corporate purposes,” it said.
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BLS E-Services IPO GMP Today
According to market observers, unlisted shares of BLS E-Services Ltd are trading Rs 142 higher in the grey market as compared with its issue price. The Rs 142 grey market premium or GMP means the grey market is expecting a 105.19 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
