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Updater Services confirms proceeds from its 2023 IPO are being appropriately utilized
31-Jul-2026, 05:13
Updater Services Limited, formerly Updater Services Pvt Ltd, announced that ICRA Limited, its Monitoring Agency, has confirmed in a report for the quarter ended June 30, 2026, that the utilization of proceeds from its initial public offering is in line with the objects of the issue, with no deviations observed. The Monitoring Agency report, pertaining to the IPO issue dated August 24, 2023, also noted that Rs 377.76 crore of the total net proceeds of Rs 377.87 crore has been utilized, with the remaining Rs 0.11 crore parked in a public issue account.
Updater Services Limited, formerly Updater Services Pvt Ltd, announced that ICRA Limited, its Monitoring Agency, has confirmed in a report for the quarter ended June 30, 2026, that the utilization of proceeds from its initial public offering is in line with the objects of the issue, with no deviations observed. The Monitoring Agency report, pertaining to the IPO issue dated August 24, 2023, also noted that Rs 377.76 crore of the total net proceeds of Rs 377.87 crore has been utilized, with the remaining Rs 0.11 crore parked in a public issue account.