BLS E-Services Ltd (Ticker: Pending) is an internet company specializing in digital service provision, focusing on business correspondence services to major banks, assisted E-Services, and E-Governance services across India. The company has announced its Initial Public Offering (IPO) with plans to list on February 6, 2024. BLS E-Services is offering 23,030,000 shares in the price range of INR 129.00 - 135.00 per share, aiming to raise INR 3.11 billion (approximately USD 37.39 million). Unistone Capital Pvt Ltd manages the offering as the sole book running lead manager, with Kfin Technologies appointed as the registrar for the issue.

The IPO was open for subscription between January 31 and February 1, 2024, and was met with a strong response, being oversubscribed 162.40 times. This enthusiasm was evident across all categories of investors, with non-institutional investors subscribing 300.06 times, retail investors 236.66 times, and qualified institutional bidders 123.30 times. The grey market premium (GMP) for BLS E-Services shares surged to approximately INR 175 per share, indicating a potential listing pop of around 130%. This IPO is entirely a fresh sale of equity shares without any secondary shares being offered. The shares are set to be listed on both the BSE and NSE on February 6, 2024.