In a recent development, Updater Services and JSW Infrastructure are poised to list in October following their successful initial public offerings (IPOs).
Updater Services witnessed a strong response to its IPO, receiving nearly three times its issue size in bids. The company managed to raise INR 288 crore ($3.8 million) from anchor investors. It had set a price band of INR 280 to INR 300 per share, with plans to raise a total of INR 640 crore ($8.5 million). Of this amount, INR 240 crore ($3.2 million) is expected to be raised through an offer for sale (OFS).
On the other hand, JSW Infrastructure's IPO saw over 37% subscription on the final day. The IPO comprises a fresh issue of 23.53 crore shares. The funds raised will be utilized for debt repayment and expansion of Jaigarh Port and JSW Mangalore Container.
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