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Shares of the company listed at Rs 305, a gain of 125.92 per cent on the NSE. The stock ended at Rs 366, reflecting a sharp rally of 171.11 per cent.
The company’s market valuation stood at Rs 3,368.50 crore.
In traded volume terms, 58.32 lakh shares of the company were traded at the BSE and over 4.99 crore shares at the NSE during the day.
The
The IPO of fresh issue of up to 2,30,30,000 equity shares had a price range of Rs 129-135 a share.
The Rs 311-crore initial share sale of BLS E-Services Ltd was fully subscribed within minutes of opening for bidding on Tuesday.
The company is a leading technology-enabled digital service provider, offering business correspondent services to major banks in
BLS E-Services is a subsidiary of
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 setting up BLS stores, achieve inorganic growth through acquisitions and for general corporate purposes.