BLS E-Services IPO opens on Jan 30 at a price band of Rs 129-135

The company has reserved 23,03,000 equity shares for the shareholders of promoter BLS International Services. The eligible shareholders will get these shares at a discount of Rs 7 each to the final issue price.

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Promoters, including BLS International, hold 92.28 percent in BLS E-Services, and the remaining 7.72 percent is held by shareholders, including Sunabh Consultancy which has 6.1 percent stake.

BLS E-Services provides business correspondents services to major banks in India, assisted e-services, and e-governance services at grassroot levels in India. Through its robust network, BLS provides access points for delivery of essential public utility services, social welfare schemes, healthcare, financial, educational, agricultural and banking services for governments (G2C) and businesses (B2B).

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Up to 75 percent of the net issue is reserved for qualified institutional investors, 15 percent for non-institutional investors, and the remaining 10 percent shares are kept for retail investors.

Investors can bid for a minimum of 108 equity shares and in multiples of 108 shares thereafter. Retail investors can invest a minimum of Rs 14,580 for 108 shares and their maximum investment will be Rs 1,89,540 for 1,404 shares as they can invest up to Rs 2 lakh in IPO.

BLS will finalise the basis of allotment of IPO shares by February 2 and the equity shares will be credited to demat accounts of eligible investors by February 5.

The trading in its equity shares will commence on the bourses with effect from February 6. Unistone Capital is the merchant banker to the issue.