Updater Services IPO
Updater Services Limited (UDS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 04 October 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -4.2% (likely range -11% to +1%), day's high +0.3%, chance of a gain 33%. Actual: -5.0% at the open, -0.5% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 64,28,571 | 2,88,14,400 | 4.48x | |
| NII (HNI) total | 33,42,857 | 28,40,800 | 0.85x | |
| Big NII (above ₹10 lakh) | 22,28,571 | 22,76,500 | 1.02x | |
| Small NII (₹2-10 lakh) | 11,14,286 | 5,64,300 | 0.51x | |
| Retail | 22,28,571 | 30,90,050 | 1.39x | |
| Total | 1,19,99,999 | 3,47,45,250 | 2.90x |
Bids on NSE and BSE together, as published by NSE, as of 27 Sep 2023, 07:00 PM. Shares offered exclude the anchor portion. 7% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Updater Services's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| L&T Technology ServicesSep 2016 | 5.01x | 1.03x | 1.75x | 2.53x | ₹894 Cr | +7.0% | +8.3% |
| Prince Pipes and FittingsDec 2019 | 3.54x | 1.21x | 1.89x | 2.21x | ₹503 Cr | -10.1% | -0.1% |
| Sula VineyardsDec 2022 | 4.13x | 1.51x | 1.65x | 2.33x | ₹960 Cr | +1.1% | +1.8% |
| Avalon TechnologiesApr 2023 | 3.57x | 0.41x | 0.84x | 2.21x | ₹909 Cr | 0.0% | 0.0% |
| eMudhraMay 2022 | 4.05x | 1.28x | 2.61x | 2.72x | ₹411 Cr | +5.5% | +9.0% |
| Varun BeveragesOct 2016 | 4.94x | 0.42x | 0.82x | 1.86x | ₹1,112 Cr | -3.4% | +6.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| IIFL Securities | 94 | +19.3% | 71% |
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
| SBI Capital Markets | 56 | +16.7% | 61% |
Offer documents (NSE)
Frequently asked
What is the Updater Services IPO price band and lot size? ₹280–300 per share, with a lot of 50 shares, so the smallest retail bid is ₹15,000.
How many times has it been subscribed? 2.90x overall: QIB 4.48x, NII 0.85x, retail 1.39x.
How did it list? It opened at ₹285, -5.0% against the issue price of ₹300, and closed its first day -5.4%.
