The Updater Services IPO commenced on September 25, 2023, and concluded on September 27, 2023. The allotment of shares took place on October 4, 2023, and the initiation of refunds began on October 5, 2023. The shares were credited to the demat accounts of investors on October 6, 2023. Finally, the listing of Updater Services on the stock exchange occurred on October 9, 2023.
The Updater Services IPO was priced at ₹280 to ₹300 per share, with a lot size of 50 Shares. The total issue size was ₹640.00 crores, comprising a fresh issue of ₹400.00 crores and an offer for sale of ₹240.00 crores. The IPO was listed on both the NSE and BSE.
In terms of quota reservations, the QIB (Qualified Institutional Buyers) quota was reserved for 75% of the shares, the NII (Non-Institutional Investors) quota was reserved for 15% of the shares, and the retail quota was reserved for 10% of the shares.
Updater Services IPO Basic Details
|Company Name||Updater Services Limited|
|Domain of Company||Management and Business Support Services|
|Updater Services IPO GMP Today||₹0.00|
|Updater Services IPO Listing Gain||0.00%|
|Updater Services IPO Open Date||September 25, 2023|
|Updater Services IPO Close Date||September 27, 2023|
|Updater Services IPO Allotment Date||October 4, 2023|
|Updater Services IPO Listing Date||October 9, 2023|
|Face Value||₹10 per share|
|Price||₹280 to ₹300 per share|
|Lot Size||50 Shares|
|Issue Size||21,333,333 shares of ₹10|
(aggregating up to ₹640.00 Cr)
|Fresh Issue||13,333,333 shares of ₹10|
(aggregating up to ₹400.00 Cr)
|Offer for Sale||8,000,000 shares of ₹10|
(aggregating up to ₹240.00 Cr)
|Issue Type||Book Built Issue IPO|
|Listing At||NSE, BSE|
|Company Promoters||Raghunandana Tangirala,|
Shanthi Tangirala and
Tangi Facility Solutions Private Limited
Updater Services IPO GMP Today:
|Date||GMP||Listing Gain||Kostak||Subject to|
|23 September 2023||₹0||0.00%||–||–|
Updater Services IPO Details:
Updater Services Limited, founded in 1990, specializes in facility management and business support services (BSS). We operate in the Business-to-Business (B2B) services sector, offering a range of business services grouped into two main categories:
- IFM & Other Services Segment: This includes Production Support Services, Soft Services, Engineering Services, Washroom and Feminine Hygiene, Warehouse Management, General Staffing, and more.
- BSS Segment: In this segment, we provide Audit and Assurance services through our subsidiary, Matrix. We also offer employee background verification services, airport ground handling services, sales enablement services, and more through our various subsidiaries.
As of June 30, 2023, Updater Services Limited serves 2,797 customers across diverse industries, including global and Indian giants like Procter & Gamble Home Products Limited (P&G), Aditya Birla Fashion and Retail Limited (ABFRL), Microsoft, Hyundai Motor India Limited (Hyundai), Saint-Gobain India Private Limited, and others.
Our company operates across India, boasting a vast network spanning 4,331 locations (excluding staffing sites). We manage this network from 129 points of presence, including 116 offices in India and 13 offices overseas, as of June 30, 2023.
Updater Services IPO More Details Click Here
Updater Services IPO FAQs
When is Updater Services IPO open?
Updater Services IPO will open on 25 September 2023.
When is Updater Services IPO Close?
Updater Services IPO will be closed on 27 September 2023.
What is Updater Services IPO GMP Today?
The Updater Services IPO GMP aka Grey Market Premium is ₹0.
What is Updater Services IPO Kostak Rates Today?
The Updater Services IPO Kostak Rate is ₹000.
What is Updater Services IPO Subject to Sauda Price Today?
The Updater Services IPO subject to sauda rates is ₹000.
Updater Services IPO Expected Returns?
The Updater Services expected return is 0.00%.
How much will be the listing gain in Updater Services IPO?
Updater Services IPO will get listing gain of 0.00%. (Approx.)