Technology-backed service provider BLS E-Services Ltd has set a price band of ₹129-135 per share for its initial public offering (IPO), that will open for bidding on January 30.

The issue will open for public subscription on January 30, and close on February 1, 2024, a company release said.

The firm is offering up to 2.3 crore equity shares, excluding pre-IPO placement in the offering.

Anchor investor bidding will be on January 29, it added.

Investors can bid for a minimum of 108 equity shares and in multiples of 108 thereafter, the company said.

"The company proposes to utilise net proceeds from fresh issue of equity shares to strengthen its technologyinfrastructure to develop new capabilities and consolidate its existing platforms; funding initiatives for organic growth by setting up of BLS Stores; achieving inorganic growth through acquisitions; and general corporate purposes," it said.