BLS International had opened with a lot of traction today morning; from its close of Rs.193.65, it opened at Rs.200.15 and surged further to an intraday high at Rs.203.45, which is not too far from its 52-week high of Rs.209.15.

The stock price reacted to its announcement yesterday evening that the Board of BLS E-Services, subsidiary of the company at their meeting held yesterday approved fund raising, subject to receipt of requisite approvals, market conditions and other considerations, by way of an Initial Public Offering ('IPO').

The size of the offer, price and other details of the proposed IPO will be determined in due course.

The company clarified that post the proposed IPO, BLS E-Services would continue to be subsidiary of the company.