BLSE Services, India's visa and passport services leader, opens its IPO aiming for ₹310 crore through fresh shares. Priced at ₹129-135, it offers monopoly potential but government dependence and competition pose risks, Here are 10 things to know about the BLSE Services IPO before subscribing.
1
The IPO opens for subscription on January 30, 2024, and closes on February 1, 2024.
2
The issue is priced at ₹129 to ₹135 per share, aiming to raise ₹310.91 crore entirely through a fresh issue.
3
75% of shares are reserved for institutional investors, 15% for non institutional investors, and 10% for retail investors. Minimum bid is 108 shares.
4
They reported a net profit of Rs 14.68 crore and revenue of Rs 158.05 crore as of September 30, 2023.
5
They have a strong presence across India and demonstrated healthy financial growth.
6
Dependence on government contracts, competition from other digital service providers & potential regulatory changes are key risks to consider.
7
The IPO has seen positive sentiment in the grey market, with shares trading at a premium, indicating potential investor interest.
8
The shares are expected to list on BSE and NSE on February 6, 2024.
9
Analyze recommendations from financial advisors and research reports to understand different perspectives on the IPO.
10
Carefully assess your risk appetite, investment goals, and research findings before making a ubscription decision.