Shares of BLS E-Services were listed on BSE at Rs 309 with a premium of 128.89%. At the same time, it was listed on NSE at Rs 305 with a premium of 125.92%. Its issue price was Rs 135.
The company had raised Rs 126 crore from anchor investors
Before the IPO, on January 29, the company had raised Rs 126 crore from anchor investors. According to BSE website, the company allotted 93.27 lakh shares to 10 funds at a price of Rs 135 each.
Sixteenth Street Asian Gems Fund, Cent Capital Fund, Silver Stride India Global Fund, Aries Opportunities Fund, Eidos India Fund are among the anchor investors who were allotted shares.
What does the company do?
BLS e-Services is a technology enabled digital service provider, which provides correspondence services to many big banks in the country. The company helps in delivering essential public utility services and social welfare schemes in urban, semi-urban, rural and remote areas.
The company will use the funds raised from the issue to develop new capabilities and strengthen its existing platforms. The money will also be used to strengthen its technology infrastructure.
