Updater Services IPO GMP History
Updater Services IPO has been listed on October 4, 2023 at a listing price of ₹285, against the issue price of ₹300 — a loss of ₹15 (-5%). The GMP peaked at ₹15 on 26 September 2023 and reached a low of ₹3 on 3 October 2023. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Updater Services IPO raised ₹640 Cr. through its IPO at a price band of ₹280 to ₹300 per share, with a lot size of 50 shares. The IPO was open for subscription from 25 Sep 2023 to 27 Sep 2023.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 10 Nov, 6:13 PM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 03 Oct 2023 | ₹ 3 | — | 1% | — | — |
| 02 Oct 2023 | ₹ 3 | ▼ | 1% | — | — |
| 30 Sep 2023 | ₹ 4 | — | 1% | — | — |
| 29 Sep 2023 | ₹ 4 | — | 1% | — | — |
| 28 Sep 2023 | ₹ 4 | ▼ | 1% | — | — |
| 27 Sep 2023 | ₹ 5 | ▼ | 2% | — | — |
| 26 Sep 2023 | ₹ 15 | — | 5% | — | — |
| 25 Sep 2023 | ₹ 15 | — | 5% | — | — |
| 23 Sep 2023 | ₹ 15 | — | 5% | — | — |
Updater Services IPO dates
Key dates from opening to listing. Today is 11 November.
- Open 25 Sep 2023
- Close 27 Sep 2023
- Allotment 28 Sep 2023
- Refund/credit 29 Sep 2023
- Listing 04 Oct 2023
Updater Services IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹300 |
|---|---|
| GMP-based estimate (pre-listing) | ₹303 (+1%) |
| Listing gain / loss | −₹15 per share |
| Listing date | 04 Oct, 2023 |
| Actual listing price | ₹285 (-5%) |
Is Updater Services IPO GMP reliable?
Grey market premium for Updater Services IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Updater Services IPO full review for a fundamentals-based assessment before making any grey market trades.
Updater Services IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Updater Services IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Updater Services IPO
Updater Services Limited was incorporated in 1990. As per the F&S report, it is a leading integrated business services platform in India, offering integrated facilities management (IFM) and business support services (BSS) with a pan-India presence, and the second largest player in the IFM market.
Its IFM and other services include production support, soft services, engineering services, washroom hygiene, warehouse management and staffing. Through subsidiaries such as Matrix, its BSS segment offers audit and assurance, employee background checks, airport ground handling and sales enablement.
It serves sectors such as FMCG, manufacturing, BFSI, healthcare, IT, automobiles, logistics, airports and retail. As of 30 June 2023 it served 2,797 customers, including P&G, Microsoft and Hyundai.
The IPO was Rs 640 crore, with Rs 400.00 crore of fresh issue and Rs 240.00 crore of offer for sale by promoter Tangi Facility Solutions and investors. Rs 133.00 crore was planned for repaying borrowings and Rs 115.00 crore for working capital.
Frequently asked
What is the GMP of Updater Services IPO?
The current Grey Market Premium (GMP) of Updater Services IPO is ₹ 3.
What is the Kostak Price of Updater Services IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Updater Services IPO is not available.
What is the Subject to Sauda Price of Updater Services IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Updater Services IPO?
Updater Services IPO listed on October 4, 2023 at ₹285, against the issue price of ₹300 — a loss of -5%.
How did the GMP of Updater Services IPO trend before listing?
The GMP of Updater Services IPO was stable in its final days before listing. The GMP peaked at ₹15 on 26 September 2023. View the day-wise table above for the complete GMP history.
Explore Updater Services IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
