Updater Services IPO opens next week. GMP, other details in 10 points

livemint.com:

Updater 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.

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.