BLS E-Services Shares Close Nearly 175% Higher Than IPO Price

Shares of BLS E-Commerce Ltd. closed on BSE at Rs 370.75 apiece, 174.63% higher than the IPO price of Rs 135.

On National Stock Exchange, shares of the ITeS firm ended at Rs 360 apiece, marking a premium of 171.11%.

BLS E-Services Ltd.'s initial public offering was subscribed 162.47 times on the final day.

The offer was fully subscribed within 30 minutes of opening on Tuesday. It was subscribed 15.67 times on day one and 42.78 times on day two.

BLS is the only listed company in India operating in the visa and passport services sector. It is a technology-enabled digital service provider that offers business correspondence services to major banks in India. It also offers assisted e-services and e-governance services across the country.

The company's merchants are divided into BLS touchpoints and BLS stores. Starfin India, Zero Mass and BLS Kendras are the subsidiaries of the company.