BLS E-Services IPO: Should you subscribe? Check Anil Singhvi's view

BLS E-Services IPO: The initial public offering (IPO) of the BLS E-Services is now open for subscription. The bidding for this IPO is open for three and will close on February 1, 2024. The company, which has diverse sources of revenue, aims to raise Rs 310.91 crore via the issuance of fresh shares. 

BLS E-Services IPO Buy or Not: Check Anil Singhvi's View

According to Zee Business Managing Editor Anil Singhvi, there are chances of big listing gains in this IPO. 

"Apply for big listing gains because there are chances that this IPO will do well on listing considering the kind of business it is into," Singhvi said.

#IPOAlert

BLS E-Services का IPO - आज से 1 फरवरी तक खुलेगा

- प्राइस बैंड : ₹129-135 प्रति शेयर

- लॉट साइज: 108 शेयर

देखिए मेरी राय यहां  https://t.co/K8FAtxnI7L#BLSEServicesIPO #IPOToInvest #IPOs pic.twitter.com/5hoA5whHe1

— CA Anil Singhvi Zee Business (@AnilSinghvi_) January 30, 2024

BLS E-Services IPO: Positives 

- Experienced management and strong promoter background

- Unique business model

- Strong growth record through acquisition 

- Asset-light business model

- Free cash flow and debt-free 

- Average valuation

BLS E-Services IPO: Negative

- Dependent on SBI for business

- Dependency parent company for e-governance business

BLS E-Services IPO Subscription Dates

The issue, with a price band of Rs 129-135 per share, will open for public subscription on January 30 and conclude on February 1. 

BLS E-Services IPO Anchor Investors

Sixteenth Street Asian Gems Fund, Saint Capital Fund, Silver Stride India Global Fund, Aries Opportunities Fund, and Aidos India Fund are among the anchor investors that have been allotted shares.

BLS E-Services IPO Lot Size

A bidder will be able to apply in lots and one lot of the book build issue will comprise 108 company shares.

BLS E-Services IPO Allotment Date

According to the information available, the share allocation is likely to be finalized on February 2, 2024 i.e. on Friday next week.

BLS E-Services IPO Listing Date

The public issue is expected to hit the secondary market on February 6, 2024.

The money will also be used to fund initiatives for organic growth by setting up of BLS Stores, achieve inorganic growth through acquisitions and for general corporate purposes. The shares of BLS E-Services are proposed for listing on BSE and NSE.