BLS International To Raise Rs 2,000 Crore Through QIP
The fundraise is subject to approval from shareholders and statutory authorities.
The board of directors of BLS International Services Ltd. has approved the proposal to raise up to Rs 2,000 crore through qualified institution placement. The fundraise is subject to approval from shareholders and statutory authorities.
The company will raise funds through the issuance of securities by way of one or more public or private offerings, QIP or right issue basis or a combination of these methods, according to an exchange filing on Monday.
BLS International Q1 Results
The Delhi-headquartered company's net profit rose 70% year-on-year to Rs 120.78 crore in the first quarter of this financial year, according to an exchange filing.
Revenue increased by 28.5% year-on-year to Rs 492.67 crore for the three months ended June 30, 2024.
Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 66% year-on-year to Rs 133.2 crore. Ebitda margin expanded to 27% from 20.9% in the same period the previous year.
Shares of the company closed 2.15% lower at Rs 349.90 per share, compared to a 2.65% decline in the NSE Nifty 50. The stock has risen 7.17% year-to-date and 42.38% over the past 12 months.
