New Delhi, Feb 1 (PTI) The Initial Public Offer (IPO) of BLS E-Services received a whopping 162.48 times subscription on the last day of bidding on Thursday.

The Rs 311 crore IPO received bids for 2,22,63,80,472 shares against 1,37,02,904 shares on offer, as per NSE data.

Also Read | CUET PG 2024 Exam: Registration Date for Common University Entrance Test Examination Extended Till February 7, Apply Online at pgcuet.samarth.ac.in.

The part for non-institutional investors fetched 300.14 times subscription and the portion for Retail Individual Investors (RIIs) got subscribed 237 times. The category for Qualified Institutional Buyers (QIBs) received 123.30 times subscription.

The initial share sale of BLS E-Services Ltd was fully subscribed within minutes of opening for bidding on Tuesday.

Also Read | Previous Year’s Budget Highlights: From Income Tax Relief to National Digital Library, Major Talking Points From Last Year’s Budget That You Should Know.

The IPO of fresh issue of up to 2,30,30,000 equity shares had a price range of Rs 129-135 a share.

BLS E-Services Ltd on Monday mobilised Rs 126 crore from anchor investors.

The company is a leading technology-enabled digital service provider, offering business correspondent services to major banks in India, assisted e-services; and e-governance services at grass-root levels in the country.

BLS E-Services is a subsidiary of BLS International Services Ltd, which offers visa and consular services.

The company proposes to utilise net proceeds from the fresh issue to strengthen its technology infrastructure to develop new capabilities and consolidate its existing platforms, among others.

The money will also be used to fund initiatives for organic growth by setting up BLS Stores, achieve inorganic growth through acquisitions and for general corporate purposes.

Unistone Capital was the manager to the offer.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)