The company’s shares are expected to get listed on the exchanges on October 3. Updater Services is commanding a premium of Rs 0 in the unlisted market, which indicates the stock is expected to see a muted to flattish listing. The Rs 640-crore IPO of Updater Services was subscribed 2.9 times overall at close.
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“Since the issue size was large, it took away the possibility of the share price seeing any scarcity premium on the listing day,” said Mrunmayee