Updater Services Limited IPO Detail
Incorporated in 1990, Updater Services Limited offers facility management services and business support services ("BSS"). The company operates in the Business-to-Business ("B2B") services space offering a spectrum of business services, which are broadly classified into the two following segments: 1. IFM & Other Services Segment; and 2. BSS Segment.
In FM & Other Services Segment; Production Support Services, Soft Services, Engineering Services, Washroom and Femmenine Hygiene, Warehouse management, General Staffing and more.
In the BSS segment, the company offers Audit and Assurance services through the Subsidiary, Matrix. UDS also offer employee background verification check services, airport ground handling services, sales enablement services and more through its subsidiaries.
As of June 30, 2023, UDS served 2,797 customers across various sectors, including certain global and Indian customers such as Procter & Gamble Home Products Limited ("P&G"), Aditya Birla Fashion and Retail Limited ("ABFRL"), Microsoft, Hyundai Motor India Limited ("Hyundai"), Saint-Gobain India Private Limited and more.
Updater Services Limited is a pan India player, with a widespread network consisting of 4,331 locations (excluding staffing locations) managed from 129 points of presence with 116 offices situated in India and 13 offices situated overseas, as of June 30, 2023.
Company Promoters
Raghunandana Tangirala, Shanthi Tangirala and Tangi Facility Solutions Private LimitedIPO Details
| IPO Opening Date | Sep 25, 2023 |
| IPO Closing Date | Sep 27, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹280 - 300 per equity share |
| Market Lot | 50 Shares |
| Min Order Quantity | 50 Shares |
| Listing At | BSE, NSE |
| Issue Size | |
| Fresh Issue | ₹400.00 Cr |
| Offer for Sale | 8,000,000 shares of ₹10 |
| Retail Portion | 10% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | - | - | 0.01x | 0.32x | 0.06x |
| Day 2 | 0.00x | - | - | 0.12x | 0.72x | 0.17x |
| Day 3 | 4.50x | - | - | 0.89x | 1.45x | 2.96x |
IPO Tentative Timetable
The Updater Services Limited IPO open date is Sep 25, 2023, and the close date is Sep 27, 2023. The issue may list on Oct 04, 2023.
| IPO Open Date | Sep 25, 2023 |
| IPO Close Date | Sep 27, 2023 |
| Basis of Allotment Date | Sep 28, 2023 |
| Initiation of Refunds | Sep 29, 2023 |
| Credit of Shares to Demat Account | Oct 03, 2023 |
| IPO Listing Date | Oct 04, 2023 |
IPO Lot Size
The Updater Services Limited IPO market lot size is 50 shares. A retail-individual investor can apply for up to 13 lots (650 shares or ₹195000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 50 | ₹15000 |
| Maximum | 13 | 650 | ₹195000 |
IPO Promoter Holding
| Pre Issue Share Holding | 80.58% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 579.49 | 1216.35 | 47.56 |
| 31-Mar-22 | 874.57 | 1497.89 | 57.37 |
| 31-Mar-23 | 1216.95 | 2112.09 | 34.61 |
Objects of the Issue:
Objects of the Fresh Issue:
1. Repayment and /or prepayment of certain borrowings availed by the Company.
2. Funding the working capital requirements.
3. Pursuing inorganic initiatives.
4. General corporate purposes.
Updater Services Limited IPO Registrar:
Link Intime India Private Ltd
Updater Services Limited IPO Lead Manager(s):
Iifl Securities Ltd Motilal Oswal Investment Advisors Limited SBI Capital Markets Limited
Company Contact Information:
Updater Services Limited
No. 2/302-A, UDS Salai,
Off Old Mahabalipuram Road, Thoraipakkam,
Chennai 600 097, Tamil Nadu, India
