The Updater Services IPO date has been confirmed from September 25 and ended on September 27, 2023. Read the post to learn about Updater Services IPO GMP.
The Updater Services IPO is a book built issue worth Rs 640.00 crores. It consists of a fresh issue of 1.33 crore shares, amounting to Rs 400.00 crores, and an offer for sale of 0.8 crore shares, totaling Rs 240.00 crores. The bidding for the Updater Services IPO commenced on September 25, 2023, and concluded on September 27, 2023. The allotment for the IPO was finalized on Thursday, September 28, 2023. The shares were subsequently listed on both the BSE and NSE on October 4, 2023.
Start your investing journey today. Find the latest information on Upcoming IPOs.
Key Details Of Updater Services IPO:
Bidding Dates
Sep 25 – 27, 2023
Price Range
₹280 to ₹300 per share
Face Value
₹10 per share
GMP
₹0
Updater Services IPO GMP
The Updater Services IPO GMP is ₹[0].
IPO Overview
The price range for the Updater Services IPO has been established at ₹280 to ₹300 per share. Retail investors are required to invest a minimum amount of ₹15,000 and the minimum lot size for their application is 50 shares. As for sNII, the minimum lot size investment is 14 lots (700 shares), totaling ₹210,000. On the other hand, bNII has a minimum lot size investment of 67 lots (3,350 shares), totaling ₹1,005,000. Updater Services is a dedicated and integrated B2B services platform in India catering to the complete national market offering its customers the value-added services in the form of IFM services (“IFM”) and BSS solutions (“BSS”). F&S Report (Source).
They are the second largest player in India’s IFM market and have the industry’s broadest service offering, making us a unique and differentiated participant in the market. F&S Report (Source). Updater Services operates in the Business-to-Business (“B2B“).
Updater Services IPO Date & Price Band Details
| IPO Date | September 25, 2023 to September 27, 2023 |
| Listing Date | October 4, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹280 to ₹300 per share |
| Lot Size | 50 Shares |
| Total Issue Size | 21,333,333 shares (aggregating up to ₹640.00 Cr) |
| Fresh Issue | 13,333,333 shares (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 | BSE, NSE |
| Share holding pre issue | 53,369,355 |
| Share holding post issue | 66,702,688 |
Updater Services IPO Market Lot
Investors who are interested in the bidding can do so placing bids at a minimum of 50 shares, and such bids can be increased in increments of that multiple. The next table is given below to describe the smallest and greatest investments let for both retail investors and high net worth individuals (HNIs), either in the units of shares or in money value.
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 50 | ₹15,000 |
| Retail (Max) | 13 | 650 | ₹195,000 |
| S-HNI (Min) | 14 | 700 | ₹210,000 |
| S-HNI (Max) | 66 | 3,300 | ₹990,000 |
| B-HNI (Min) | 67 | 3,350 | ₹1,005,000 |
Updater Services IPO Allotment and Listing Dates
The IPO for Updater Services will start on September 25, 2023, and close on September 27, 2023.
| IPO Open Date | Monday, September 25, 2023 |
| IPO Close Date | Wednesday, September 27, 2023 |
| Basis of Allotment | Thursday, September 28, 2023 |
| Initiation of Refunds | Friday, September 29, 2023 |
| Credit of Shares to Demat | Tuesday, October 3, 2023 |
| Listing Date | Wednesday, October 4, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2023 |
Updater Services IPO Company Financial Report
| IPO Open: | September 25, 2023 |
| IPO Close: | September 27, 2023 |
| IPO Size: | Approx ₹[.] Crores |
| Fresh Issue: | Approx ₹400 Crores |
| Offer for Sale: | Approx 8,000,000 Shares |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹[.] to ₹[.] Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 10% |
| QIB Quota: | 75% |
| NII Quota: | 15% |
| Discount: | N/A |
Company Profile
Updater Services IPO, which is a unit of Non-Banking Finance Company (NBFC-ND-SI) operating since 1984, deals in providing secured business loans to micro entrepreneurs and self-employed Omanis. The network of 311 branches of the company in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and one union territory along with nearly 150 districts across India has established that company as one that is considerably established within Tamil Nadu specifically along with Andra Pradesh, Telangana, Karnataka and one union territory. Institutionalizing Updater Services IPO Limited entails a distinctive business modelled, which involves appropriately identifying the risk framework to govern service and reaping from opportunities.
ideal instalment-to-income ratio. Such as the case this approach assures that customers are enabled sufficient resources to pay back their loans and still address other responsibilities and contingent needs. MindMeister IT solutions is located in Chennai, Tamil Nadu’s hub and has a prominent position in the Southern region of India. Updating Services IPO Limited, as of September 30th, 2021, has the workforce of 4,306 dedicated people on board.
Registrar Info
| Name | LINK INTIME INDIA PRIVATE LIMITED |
| Phone number | +91-22-4918 6270 |
| Email ID | [email protected] |
| Website | https://linkintime.co.in/mipo/ipoallotment.html |
Contact Details
| Name | Updater Services IPO Limited |
| Phone number | +91 44 24963234 / 0333 |
| Email ID | [email protected] |
| Website | https://fivestargroup.in |
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
Updater Services IPO FAQs
What is Updater Services IPO closing time?
The subscription period for the Updater Services IPO will conclude at 5 PM on September 27, 2023. However, it is important to note that the majority of brokers cease accepting applications between 1 PM and 3 PM.
What is Updater Services IPO size?
The Updater Services IPO size is 21333333 Equity Shares of ₹10 aggregating up to ₹640.00 Cr.
When will Updater Services IPO allot?
The Updater Services IPO allot status will be available online on September 28, 2023.
When is Updater Services IPO listing?
Leave a Reply