Updater Services Limited
- IPO Date25 Sep, 2023 to 27 Sep, 2023
- Listing Date04 Oct, 2023
- Face Value₹10 per share
- Issue Price₹280 to ₹300 per share
- Lot Size50 Shares
- Minimum Investment₹15,000
- Listing AtBSE, NSE
- Total Issue Size2,13,33,333 Shares
(aggregating up to ₹640.00 Cr) - Fresh Issue1,33,33,333 Shares
(aggregating up to ₹400.00 Cr)
- Offer for Sale80,00,000 Shares
(aggregating up to ₹240.00 Cr) - Issue TypeBook Built Issue IPO
- Share holding pre issue5,33,69,355
- Shareholding post issue6,67,02,688
IPO Dates
Closing Date
27 Sep, 2023
Initiation of Refunds
03 Oct, 2023
Listing Date
04 Oct, 2023
25 Sep, 2023
Opening Date
28 Sep, 2023
Basis of Allotment
03 Oct, 2023
Credit of Shares
Updater Services Limited Lot Size
Investors can bid for a minimum of 50 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹15,000 |
| Retail (Max) | 13 | 650 | ₹1,95,000 |
| S-HNI (Min) | 14 | 700 | ₹2,10,000 |
| S-HNI (Max) | 66 | 3300 | ₹9,90,000 |
| B-HNI (Min) | 67 | 3350 | ₹10,05,000 |
Updater Services Limited Promoter Holding
Raghunandana Tangirala, Shanthi Tangirala and Tangi Facility Solutions Private Limited are the company promoters.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 80.58% | 58.47% |
Key Performance Indicator
Updater Services IPO Market Cap is Rs 2001 Cr and P/E (x) is 44.31.
| KPI | Values |
|---|---|
| ROE | 9.4% |
| ROCE | 14.17% |
| RoNW | 9.34% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 44.31 | 6.77 |
| P/E (x) | 44.31 | 6.77 |
Updater Services Limited COMPANY INFORMATION
Updater Services IPO is a book built issue of Rs 640.00 crores. The issue is a combination of fresh issue of 1.33 crore shares aggregating to Rs 400.00 crores and offer for sale of 0.8 crore shares aggregating to Rs 240.00 crores. Updater Services IPO bidding started from September 25, 2023 and ended on September 27, 2023. The allotment for Updater Services IPO was finalized on Thursday, September 28, 2023. The shares got listed on BSE, NSE on October 4, 2023. Updater Services IPO price band is set at ₹280 to ₹300 per share. The minimum lot size for an application is 50 Shares. The minimum amount of investment required by retail investors is ₹15,000. The minimum lot size investment for sNII is 14 lots (700 shares), amounting to ₹210,000, and for bNII, it is 67 lots (3,350 shares), amounting to ₹1,005,000. Iifl Securities Ltd, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited are the book running lead managers of the Updater Services IPO, while Link Intime India Private Ltd is the registrar for the issue. Refer to Updater Services IPO RHP for detailed information.
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.
FAQs About Updater Services Limited
Updater Services Limited will open on 25 Sep, 2023 and close on 27 Sep, 2023. Investors must apply within this period to participate.
The Updater Services Limited price band is set between ₹280.00 and ₹300.00 per share. The minimum lot size is 50, requiring an investment of at least ₹15000.00.
The Updater Services Limited shares are expected to be listed on 04 Oct, 2023, subject to regulatory approvals and final allotment.
You can track your Updater Services Limited application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Updater Services Limited will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.