BLS E-Services IPO raised ₹13.75 crore in pre-IPO round

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BLS E-Services IPO: Before filing the red herring (RHP), BLS E-Services — a subsidiary of BLS International Services — operated ₹13.75 billion. According to the company’s notice to investors, a total of 17 purchased 11 million shares of the company during the pre-IPO period. Prominent names as per the notification issued by BLS E-Services include Sandeep Srivastava, Satnam Singh Takkar, Vijay Kumar Agarwal, Shaurya Vardhan Sonthalia, Rajya Vardhan Sonthalia, and Tarun Chandmal Jain. BLS E-Services has issued 11 million shares to 17 investors on January 4, 2024.

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BLS E-Services has announced the raising of capital in the pre-IPO placement through a notice to investors saying, “….in consultation with the management of the book operation has conducted an additional issue of equity shares through a private placement of 11 million shares for ₹125 per share, a total of ₹13.75 billion (pre-IPO placement).

BLS E-Services continues to add to that after the adoption ₹13.75 crore through the issuance of 11 lakh shares in the pre-IPO placement, the size of the public issue mentioned in the Draft Herring Prospectus (DRHP) is expected to be reduced. Currently, the fresh issue size of the proposed IPO is at 2,30,30,000 fresh shares. In the initial document filed by the company with SEBI, the company proposed to issue 2,41,30,000 fresh shares.

The expected size of the Upcoming ipo

Taking tips from ₹Raising 13.75 billion through the issuance of 11 million shares of the company in the pre-IPO period, the price of one share of the company came to ₹125 (13,75,00,000 / 11,00,000). Therefore, investors who plan to invest in this upcoming IPO should be content that the BLS E-Services IPO size will arrive at approx. ₹301 crore (2,41,30,000 x 125) which the company has already raised. ₹13.75 billion through the issuance of 11 million shares to 17 investors.

The capital market regulator, the Securities and Exchange Board of India (SEBI) has already taken into account the launch of BLS E-Services IPO in December 2023.

BLS E-Services is involved in banking and e-governance business. The activity of the public issue of his BLS International Services is expected to bring a lot of capital for the growth and expansion of the company in the future. This activity also shows the proactive management of the company.

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