Investor interest in the BLS E-Services IPO remains robust as the subscription status skyrockets to 42.78 times on the second day, according to data available on BSE. This article provides a detailed analysis of the subscription figures and key insights into the market response.
The BLS E-Services IPO has witnessed remarkable enthusiasm from investors, with a subscription status of 42.78 times on the second day of subscription. This article delves into the key highlights of the subscription status, investor segments, and the implications for the market.
Day 2 Subscription Breakdown:
On the second day, retail investors exhibited strong interest, subscribing to 125.46 times, while Non-Institutional Investors (NII) showed significant enthusiasm with a subscription of 94.09 times. Qualified Institutional Buyers (QIB) displayed substantial interest, with a portion booked 2.68 times. Shareholders reserved a notable 7.38 times.
Day 1 vs. Day 2 Comparison:
The retail response was overwhelmingly positive from the start, leading to oversubscription within the first hour. On day 1, the retail portion subscribed to 49.40 times, NII to 29.70 times, and QIB to 2.19 times. The shareholder portion was booked 2.80 times. The overall subscription status was 15.67 times on the first day.
IPO Details and Price Band:
The BLS E-Services IPO, priced in the range of ₹129 to ₹135 per equity share with a lot size of 108 shares, is witnessing substantial demand. The IPO comprises a fresh issue of 2,30,30,000 equity shares by the subsidiary of BLS International Services. Notably, there is no offer-for-sale component in this IPO.
As per the latest data from the BSE, the BLS E-Services IPO has received bids for a staggering 58,62,19,464 shares against 1,37,02,904 shares on offer. Retail investors have bid for 26,00,35,920 shares, NII for 29,25,25,992 shares, QIBs for 1,66,61,700 shares, and shareholders for 1,69,95,852 shares.
Utilization of Proceeds:
The net proceeds from the IPO are earmarked for financing BLS Stores, pursuing acquisitions for inorganic growth, supporting general corporate purposes, and enhancing technology infrastructure.
Grey Market Premium (GMP):
BLS E-Services IPO GMP has surged to +166, indicating a significant uptrend from +161 in the previous session. The rising GMP suggests that investors are willing to pay a premium for BLS E-Services shares in the grey market.
Analysts predict a strong listing for BLS E-Services, with an estimated listing price of ₹301 apiece, 122.96% higher than the IPO price of ₹135. The grey market activity points towards a positive trend, with GMP ranging from ₹60 to ₹166 in the last nine sessions.
The BLS E-Services IPO has garnered substantial attention from investors, reflected in the impressive subscription numbers and rising GMP. As the IPO journey progresses, market watchers anticipate a robust listing for BLS E-Services, emphasizing the strong confidence investors have in the company’s potential.