IT/Government Services - Listed on 06 February 2024
BLS E-Services (IT/Government Services) closed its IPO window in 2024 and listed on NSE and BSE on 06 February 2024 at an upper band issue price of Rs 135, opening at Rs 305 for a listing gain of +125.9% and closing day one at Rs 366 (+171.1% on closing basis). The IPO was subscribed 162.40x overall - QIB 123.30x, HNI/NII 300.05x, Retail 236.62x. The total issue size was Rs 310.9 Cr (Fresh Issue Rs 310.9 Cr, OFS Rs 0 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
IT/Government Services
BLS E-Services operates in the IT/Government Services space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The BLS E-Services issue was offered at an upper price of Rs 135 and raised approximately Rs 310.9 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 120 | +129.63% |
| Day 2 | Rs 140 | +129.63% |
| Day 3 | Rs 150 | +125.93% |
| Day 4 | Rs 155 | +125.93% |
| Day 5 | Rs 170 | +114.81% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the BLS E-Services IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
BLS E-Services IPO listed at +125.9% versus the upper issue price of Rs 135 on 06 February 2024.
BLS E-Services IPO was subscribed 162.40x overall. QIB portion was subscribed 123.30x, HNI / NII 300.05x and Retail 236.62x.
IPO GMP started at Rs 120 on Day 1 and moved to Rs 170 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.