The Updater Services IPO is a book-built offering worth Rs 640.00 crores. The offering consists of a fresh issue of Rs 400.00 crore and an offer to sell 0.8 crore shares.
The subscription period for the Updater Services IPO begins on September 25, 2023 and ends on September 27, 2023. The Updater Services IPO allotment is planned to be completed on Wednesday, October 4, 2023. The IPO for Updater Services will be listed on the BSE and NSE, with a tentative listing date of Monday, October 9, 2023.
Updater Providers The price range for the IPO is set at 280 to 300 per share. An application requires a minimum lot size of 50 Shares. Retail investors must make a minimum commitment of $15,000. The minimum lot size investment for sNII is 14 lots (700 shares), which amounts to 210,000, while the minimum lot size investment for bNII is 67 lots (3,350 shares), which amounts to 1,005,000.
Updater Services IPO Details
| IPO Date | September 25, 2023 to September 27, 2023 |
| Listing Date | [.] |
| Face Value | Rs 10 per share |
| Price Band | Rs 280 to Rs 300 per share |
| Lot Size | 50 Shares |
| Total Issue Size | 21,333,333 shares (aggregating up to Rs 640.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to Rs 400.00 Cr) |
| Offer for Sale | 8,000,000 shares of Rs 10 (aggregating up to Rs [.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 53,369,355 |
Updater Services IPO Timeline
| IPO Open Date | Monday, September 25, 2023 |
| IPO Close Date | Wednesday, September 27, 2023 |
| Basis of Allotment | Wednesday, October 4, 2023 |
| Initiation of Refunds | Thursday, October 5, 2023 |
| Credit of Shares to Demat | Friday, October 6, 2023 |
| Listing Date | Monday, October 9, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2023 |
Updater Services IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | Rs 15,000 |
| Retail (Max) | 13 | 650 | Rs 195,000 |
| S-HNI (Min) | 14 | 700 | Rs 210,000 |
| S-HNI (Max) | 66 | 3,300 | Rs 990,000 |
| B-HNI (Min) | 67 | 3,350 | Rs 1,005,000 |
