Updater Services Limited IPO
Updater Services Limited was a mainboard IPO in the Diversified Commercial Services sector, offered at ₹280–₹300 per share to raise ₹640 crore. The issue was subscribed 2.9× overall (QIBs 4.48×, NIIs 0.85×, retail 1.39×). It listed on 4 Oct 2023 at ₹285 and closed its first day at ₹284, a listing loss of -5.4% versus the ₹300 issue price. It now trades around ₹203 (-32.4% versus the issue price).
Frequently asked questions
- How many times was the Updater Services Limited IPO subscribed?
- The Updater Services Limited IPO was subscribed 2.9× overall — 4.48× in the QIB category, 0.85× among non-institutional investors, 1.39× in retail.
- What were the Updater Services Limited IPO listing gains?
- Updater Services Limited listed on 4 Oct 2023 at ₹285, closing its first day at ₹284 — a listing loss of -5.4% versus the ₹300 issue price.
- What were the retail allotment odds for the Updater Services Limited IPO?
- Retail was subscribed 1.39×, so a single-lot application had roughly a 71.9% chance of allotment — most applicants were allotted, and allotment was finalised on 28 Sep 2023.
- What was the price band and lot size of the Updater Services Limited IPO?
- The price band was ₹280–₹300 per share, with a minimum lot of 50 shares (₹15,000 at the upper band).
- Who were the registrar and lead manager for the Updater Services Limited IPO?
- Link Intime India Private Limited was the registrar, and IIFL Securities was the book-running lead manager.