IPO

Updater Services Limited IPO

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Diversified Commercial Services

Listed On: Oct 4, 2023 at ₹ 285.0(NSE)

₹ 15000 /50 Shares

Check Allotment

25 Sep, 2023

Open Date

27 Sep, 2023

Close Date

30 Sep, 2023

Allotment Date

04 Oct, 2023

Listing Date
Price Summary

Last Closing

235.01 (-21.66%)

52 Week High

438.60

52 Week Low

219.33

Last Update

27-Oct-2025 3:30 PM
Updater Services Limited IPO Issue Details
  • Issue Price ₹280-300 per equity share
  • Face Value ₹10 Per Equity Share
  • Issue Price Total ₹640 Cr :
    #Fresh Issue : 13,333,333 shares(aggregating up to ₹400.00 Cr) +
    #OFS : 8,000,000 shares of ₹10(aggregating up to ₹240 Cr)
  • Listing at BSE, NSE
  • List Price 285.0(NSE)
  • Listing Date 2023-10-04
  • Lead Manager Iifl Securities Ltd
    Motilal Oswal Investment Advisors LimitedSBI Capital Markets Limited
  • Registrar Link Intime India Private Ltd
Updater Services Limited IPO Details
  • Retail Portion 10% (Number of Retail Applications: 42,667 Approx),
    (Number of S-HNI Applications : 1,524 Approx),
    (Number of B-HNI Applications : 3,048 Approx)
Updater Services Limited IPO Documents
DRHP
RHP
ANCHOR
Updater Services Limited IPO Details


The IPO of Updater Services Limited is priced at ₹280-300 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Sep 25, 2023 and ends on Sep 27, 2023. The allotment for Updater Services Limited IPO will be finalized on Sep 30, 2023. Updater Services Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Oct 4, 2023. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

The book-running lead manager for the IPO is/are Iifl Securities Ltd, Motilal Oswal Investment Advisors LimitedSBI Capital Markets Limited.


The Updater Services Limited IPO sets its price band at 280-300 for each share. A single application for Updater Services Limited IPO must contain at least 50 shares.

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Updater Services Limited IPO Subscription Analysis And Details
Retail
1.38x
QIB
4.48x
NII
0.85x
bNII
1.02x
sNII
0.51x
Total
2.90x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved6,400,0003,200,000
2,133,333    1,066,666		2,133,33311,733,333
Day 1 25-09-23 05:00 PM
0.00 x0.01
0.00 x   0.03 x		0.30 x0.06 x
Day 2 26-09-23 05:00 PM
0.00 x0.12
0.15 x   0.08 x		0.72 x0.17 x
Day 3 27-09-23 05:00 PM
4.48 x0.85
1.02 x   0.51 x		1.38 x2.90 x
Total No of Applications
49,623
Subscription on the basis of Applications
1.16
Updater Services Limited Valuations
Earnings Per Share (EPS) ₹6.77/-
P/E Ratio N/A
RoNW 9.34%
Net Asset Value (NAV) - As on 31.03.22 ₹N/A
Updater Services Limited Company Financials
In Crs.
In Cr.
31-Mar-2331-Mar-2231-Mar-21
Assets1,216.95874.57579.49
Revenue2,112.091,497.891,216.35
Profit After Tax34.6157.3747.56
About Updater Services Limited Company

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.

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Updater Services Limited - Promoter(s)

Raghunandana Tangirala

Shanthi Tangirala

Tangi Facility Solutions Private Limited

Pre Issue Share Holding : 80.58%

Post Issue Share Holding : 58.47%

Updater Services Limited IPO - Issue Objectives
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 - Anchor Investors

Updater Services raises Rs 288 crore via anchor book, a day before issue opening.

Total 18 investors participated in the anchor book including marquee names like Societe Generale, Copthall Mauritius Investment, Citigroup Global, BNP Paribas Arbitrage - ODI and Nomura Singapore.

Domestic participants also invested in the company including ICICI Prudential Mutual Fund, Franklin India, Aditya Birla Sun Life Insurance, Bandhan Mutual Fund, Motilal Oswal, and 360 One Special Opportunities Fund, via anchor book.