Prior to its IPO, BLS e-Services secures Rs 126 crore from anchor investors

Prior to its IPO, BLS e-Services secures Rs 126 crore from anchor investors

Prior to its IPO, BLS e-Services secures Rs 126 crore from anchor investors

Ten funds have been given 93.27 lakh equity shares by BLS e-Services, each at a price of Rs 135 per.

One day before its initial public offering (IPO) on January 29, BLS e-Services received Rs 126 crore from anchor investors.

The business has allocated 93.27 lakh equity shares to 10 funds at a price of Rs 135 per share, which is also the top end of the price range, per a circular posted on the BSE website.

Among the anchor investors who have received shares are Sixteenth Street Asian Gems Fund, Cent Capital Fund, Silver Stride India Global Fund, Aries Opportunities Fund, and Aidos India Fund.

A new issuance of all up to 2.3 crore equity shares is what the offer consists of. A new issuance of all up to 2.3 crore equity shares is what the offer consists of.

Public subscription for the offer, which has a price range of Rs 129–135 per share, will commence on January 30 and run through February 1.

The IPO is expected to collect Rs 311 crore at the top end of the pricing range.

The firm plans to bolster its IT infrastructure in order to create new capabilities and fortify its current platforms, using the net proceeds from the fresh issuance.

In addition, the money will be used for general company needs, acquisitions to promote inorganic expansion, and organic development activities including opening BLS locations.