Stock Report

BLS E-Services Ltd files RHP for IPO

Posted On : 2024-01-24 09:07:30( TIMEZONE : IST )

BLS E-Services Limited ("BLSE"), a Subsidiary of BLS International Services Limited ("BLSI" or "the Company"), had filed the Draft Red Herring Prospectus dated August 4, 2023 with the Securities and Exchange Board of India ("SEBI") and National Stock Exchange of India Limited ("NSE") and the BSE Limited ("BSE") (collectively "Stock Exchanges") for an Initial Public Offering of upto 2,41,30,000 fresh Equity Shares ("IPO") and receipt of the final observations letter from the SEBI and In-principle listing approvals from the Stock Exchanges respectively.

BLSE has filed today, the Red Herring Prospectus ("RHP") dated Tuesday, January 23, 2024 with the Registrar of Companies, New Delhi at Delhi. The size of the Fresh Issue of up to 2,41,30,000 Equity Shares has been reduced by 11,00,000 Equity Shares pursuant to the Pre- IPO Placement, and accordingly, the Fresh Issue size is of up to 2,30,30,000 Equity Shares.

This IPO provides, a reservation of up to 23,03,000 Equity Shares available for allocation to BLS International Shareholders, on a proportionate basis, i.e., upto 10% of the size of the Issue, for subscription by eligible shareholders of the Company, i.e., Individuals and HUFs who are the public equity shareholders of the Company (excluding such persons who are not eligible to invest in the Issue under applicable laws, rules, regulations and guidelines) as on the date of this RHP, i.e., Tuesday, January 23, 2024.

BLSE will in consultation with the BRLM, may consider to offer a discount to the Issue Price to BLS International Shareholders Bidding in the BLS International Shareholder Reservation Portion, subject to necessary approvals as may be required, and which shall be announced at least two Working Days prior to the Bid / Issue Opening Date.

This IPO will be open for subscription by the public on January 30, 2024 and shall close on February 01, 2024.

Shares of BLS International Services Limited was last trading in BSE at Rs. 377.90 as compared to the previous close of Rs. 388.45. The total number of shares traded during the day was 140047 in over 2685 trades.

The stock hit an intraday high of Rs. 394.55 and intraday low of 374.70. The net turnover during the day was Rs. 54012982.00.