Chennai-based firm, Updater Services, is slated to disclose the allotment status of its initial public offering (IPO) today, following a successful subscription period that saw bids reach nearly three times the available shares. The business support and facility services provider had offered 1.20 crore shares for sale, receiving bids for 3.47 crore shares.
The IPO, priced between ₹280 to ₹300 (USD1 = INR83.192) per share, did not carry a grey market premium at the time of issue. Prospective investors can check their allotment status on the registrar's website, as well as on BSE and NSE platforms, with the latter requiring login credentials.
The company's shares are expected to list on the stock exchange on October 9, 2023. This follows after a week of anticipation since the closure of the subscription window where investors expressed significant interest in the company's public debut.
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