Updater Services Limited Share Price Debuts At 5% Discount At ₹285 On NSE

Hello friends, in this article we will talk about Updater Services IPO listing date. Updater Services is one of the best India’s leading & largest integrated Facilities Management companies. Updater Services Limites stake cost listed on the bourses at a deal on Wednesday. On the  NSE, Updater Services Limited’s share price was tipped at 285 for each share, 5% lower than the issue cost of 300, and on the BSE, Updater Services Limited cost was listed at 299.90 for each share. Now fans must be super keen to know about the whole information about it. Here we have information about it and will share it with you in this article.

Updater Services Limited

As per the report, Updater Services IPO worth band was prepared in the range of 280 to 300 each equity share of face value of 10. Chennai-based updater Services IPO opened for subscription on 25 September 2023, Monday and closed on Wednesday, 27 September 2023. Update IPO accumulated not less than 75% of the shares in the public problem for Qualified Institutional Buyers (QIB) not over 15% for Non-Institutional Investors (NII) and not over 10% of the offer is reserved for Retail Investors. You are on the right page for more information about the news, so please read the complete article.

Updater Services IPO details

Updater IPO consists of the new issue of stakes of up to 400 crore and an offer for sale (OFS) of up to 8,000,000 equity stakes of face worth of 10 each by a champion and others. Promoter Tangi Facility Solutions Private Ltd will offload 40 lakh shares in the IPO and two personal equity accounts, India Business Excellence Fund-II and India Business Excellence Fund-IIA, will sell 8 lakh and 32 lakh stakes, respectively. As per the red herring prospectus (RHP, net proceeds from the IPO to pay off some borrowing have been taken out, funding working capital needs, pursuing inorganic actions, and for public corporate goals. Scroll down to the next page for more updates.

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As far as we know, IIFL Securities Ltd, Motilal Oswal Investment Advisors Ltd, and SBI Capital Markets Ltd are the book-running lead directors to issue, and the registrar is Link Intime India Private Ltd. For FY22, the firm said revenue of 1,483.55 crore as against 1,210.03 crore in FY21. Net profit for the period stood at  57.4 crore as against 47.5 crore the previous year. Updater IPO GMP or grey market premium was 0, which meant shares had been trading at their issue price of 300. Here we have shared all the information that we had. Stay tuned to us for more updates.

Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.