BackUpdater Services IPO opens next week. GMP, other details in 10 points
Updater Services IPO price: The company has fixed price band of the book build issue at ₹280 to ₹300 per equity share
PremiumUpdater Services IPO: The initial public offering of Updater Services Limited is going to hit primary markets on 25th September 2023 i.e. on Monday next week. The public issue worth ₹640 crore will remain open for subscribers till 27th September 2023. The company has fixed Updater Services IPO price band at ₹280 to ₹300 per equity share. The public issue is proposed for listing on BSE and NSE and ahead of issue opening, the book build issue has generated ₹288 crore from anchor investors. Updater Services Limited informed Indian stock market exchanges that it ha finaliized allocation of 96 lakh company shares to anchor investors at ₹300 apiece.
Important Updater Services IPO details
As the book build issue is opening on Monday next week, here we list out 10 important Updater Services IPO details below:
1] Updater Services IPO GMP: According to market observers, shares of Updater Services Limited are yet to make debut in unlisted stock market.
2] Updater Services IPO price: The company has fixed price band of the book build issue at ₹280 to ₹300 per equity share.
3] Updater Services IPO date: The public issue will open on 25th September 2023 and it will remain open till 27th September 2023.
4] Updater Services IPO size: The company aims to generate ₹640 crore from its public offer out of which ₹400 crore will be generated via issuance of 13,333,333 feresh issues of the company. Rest ₹240 is aimed via Offer for Sale (OFS).
5] Updater Services IPO anchor investors: Ahead of public issue opening, Updater Services Limited has informed Indian exchanges that it has generated ₹285 crore from anchor investors via issuance of 95 lakh company shares at ₹300 apiece. The anchor investors include ICICI Prudential Funds, BNP Paribas Arbitrage, Franklin India Smaller Companies Fund, Nomura Singapore, etc.
See full list of Updater Services IPO anchor investors below:
6] Updater Services IPO lot size: A bidder will be able to apply in lots and one lot of Updater Services IPO comprises 50 company shares.
7] Updater Services IPO allotment date: The tentative date for share allocation is 4th October 2023 but it may happen ahed of this date as some recently launched IPOs have listed on Indian bourses keeping T+3 time frame in mind.
8] Updater Services IPO registrar: Link Intime India Private Ltd has been appointed as official registrar of the public offer.
9] Updater Services IPO listing: The book build issue is proposed for listing on BSE and NSE.
10] Updater Services IPO listing date: The public issue is most likely to list on Indian bourses on 9th October but the company may think of preponing it as some recently listed companies followed T+3 frame work while deciding upon the listing date.
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