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News Details

21/09/2023 11:50

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Updater Service announces launch of initial public offering

Updater Services Ltd. has announced public offering of 21333333 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 290.00 per share. The gross proceeds of the issue are expected to be Rs 64,000.00 lakhs.

The company's initial public offer (IPO) will open on 25 September 2023 and is expected to close on 27 September 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 280.00-300.00 per share.

The IPO includes a fresh Issue of 21333333 Equity Shares of the Company at an price of Rs 300.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 50 shares with bids in multiples of 50.

Updater Services Ltd. anticipates using the proceeds of the issue for .

SBI Capital Markets Limited,Motilal Oswal Investment Advisors Private Limited,IIFL Securities Limited as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.