Updater Services IPO

Updater Services IPO will open for subscription from 25 September 2023. The company aims for an issue size of ₹640 Cr through this IPO.

Company Overview

Full nameUpdater Services Limited
Company Websitehttps://www.uds.in/

About Company

Updater Services is a leading, focused, and integrated business services platform offering integrated facilities management (IFM) services and business support services (BSS), with a pan-India presence. The company is the second largest player in the IFM market in India and has the widest service offering in the industry, making it a unique and differentiated player in the market. The BSS segment offers Audit and Assurance services through the subsidiary, Matrix and according to the F&S Report, Matrix is a leading Audit and Assurance company for dealer/distributor audits, and retail audits, and its strong branch reach and field associate reach has driven the company to reach the top spot in India, with a market share of 19.2% in the FY 2023.

The company also offers employee background verification check services through Matrix and in this segment, Matrix is the third largest company in India with a share of 5.4% in FY 2023.

The Objectives of the Issue

  • Repayment and /or prepayment of certain borrowings availed by the Company.
  • Funding the working capital requirements.
  • Pursuing inorganic initiatives.
  • General corporate purposes.

Updater Services IPO Timetable

IPO Opening date25 September 2023
IPO Closing27 September 2023
Basis of Allotment04 October 2023
Initiation Refund05 October 2023
Credit to Demat Account06 October 2023
Listing Date09 October 2023
(Cut-off time for UPI mandate confirmation – 5 PM on September 27, 2023)

Updater Services IPO details

Issue typeBook Built Issue IPO
IPO issue size₹640 Cr – 21,333,333 shares
Fresh Issue₹400 Cr – 13,333,333 shares
Offer for sale₹240 Cr – 8,000,000 shares
Face value₹10 per share
Price Band ₹280 to ₹300 per share
Lot size50 Shares
Shareholding pre-issue53,369,355
Shareholding post-issue66,702,688
Listing ExchangeBSE & NSE

Updater Services IPO Lot Size

Retail (Min)150₹15,000
Retail (Max)13650₹195,000
S-HNI (Min)14700₹210,000
S-HNI (Max)663,300₹990,000
B-HNI (Min)673,350₹1,005,000

Updater Services IPO Reservation Details

Anchor Investor Shares Offered9,600,000 (45.00%)
QIB Shares Offered6,400,000 (30.00%)
NII (HNI) Shares Offered3,200,000 (15.00%)
Retail Shares Offered2,133,333 (10.00%)
Total Shares Offered21,333,333 (100%)

Updater Services Financial Performance

 FY 2021FY 2022FY 2023
Net income35.5854.6548.17
Margin (%)2.943.682.30
(Amount in ₹ Crores)

Updater Services Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio41.79 – 44.78
RONW (%)15.7916.249.34
ROCE (%)22.5920.2314.17
EBITDA (%)5.785.804.78

Updater Services Promoters

  • Raghunandana Tangirala
  • Shanthi Tangirala
  • Tangi Facility Solutions Private Limited

Promoter Holding

Pre Issue Share Holding80.58%
Post Issue Share Holding

Updater Services IPO Lead Manager(s)

  • IIFL Securities Ltd
  • Motilal Oswal Investment Advisors Limited
  • SBI Capital Markets Limited

Updater Services Registrar

C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +91 22 4918 6200
Email: uds.ipo@linkintime.co.in
Website: www.linkintime.co.in

Contact Details

No. 2/302-A, UDS Salai, Off Old Mahabalipuram Road,
Thoraipakkam, Chennai 600 097, Tamil Nadu
Phone: +91 44 24963234 / 0333
Email: compliance.officer@uds.in
Website: www.uds.in

Updater Services IPO Allotment Status

Updater Services IPO allotment will be available on Link Intime’s website. Click on this link to get allotment status.

Final thoughts

Updater Services IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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