BLS E- Services Limited files DRHP for IPO

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BLS E- Services Limited files DRHP for IPO

Bangalore: BLS E- Services Limited (“The Company”) s a leading technology enabled digital service provider of (i) Business Correspondents services to major banks in India, (ii) Assisted E-services; and (iii) E-Governance Services at grass root levels in India, has filed its DRHP with market regulator Securities Exchange Board of India (SEBI).

The Company plans to raise funds through an Initial public offering (IPO) of Fresh Issue of up to 2, 41, 30,000 equity shares  (face value Rs.10).

Company proposes to utilise the Net Proceeds towards funding the following objects: 1. strengthening technology infrastructure to develop new capabilities and consolidating existing platforms; 2. funding initiatives for organic growth by setting up of BLS Stores; 3. Achieving inorganic growth through acquisitions; and 4. General Corporate Purposes.

The Equity Shares that will be offered through the Draft Red Herring Prospectus are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”)

Unistone Capital Private Limited is the sole Book Running Lead Managers to the issue.