Updater Services IPO Details ( Updater Services Limited IPO Review )
(25 Sep 2023 – 27 Sep 2023)
Updater Services Limited, established in 1990, provides facility management and business support services. We operate in the Business-to-Business (B2B) services sector and offer a range of services divided into two main segments:
- IFM & Other Services Segment: Here, we offer various services including Production Support, Soft Services, Engineering Services, Washroom and Feminine Hygiene, Warehouse Management, General Staffing, and more.
- BSS Segment: In this segment, we provide Audit and Assurance services through our subsidiary, Matrix. We also offer services like employee background verification checks, airport ground handling, sales enablement, and more through our other subsidiaries.
As of June 30, 2023, we have served 2,797 customers from diverse sectors, including global and Indian giants 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 many others.
Updater Services Limited operates across India with an extensive network of 4,331 locations (excluding staffing locations). We manage these locations from 129 points of presence, with 116 offices within India and 13 offices located overseas, as of June 30, 2023.
Updater Services Limited IPO Competitive Strength
- Leading integrated business services platform, operating across diverse segments
- Longstanding relationship with customers across diverse sectors leading to recurring business
- Track record of successful acquisition and integration of high margin business segments
- Pan India presence with large and efficient workforce coupled with strong recruitment capabilities
- Technology at the forefront of our current and future business
- Highly experienced Management team with support from PE Investors
Updater Services IPO Financials Performance ( Results )
Updater Services Limited Financial Information (Restated Consolidated)
All Amount in ₹ Crores
| Period Ended | Total Assets | Total Revenue | PAT | EPS (₹) | Net Worth | Reserves | Borrowing |
| 31-Mar-21 | 579.49 | 1,216.35 | 47.56 | 8.47 | 285.26 | 11.61 | |
| 31-Mar-22 | 874.57 | 1,497.89 | 57.37 | 10.40 | 340.43 | 58.68 | |
| 31-Mar-23 | 1,216.95 | 2,112.09 | 34.61 | 6.70 | 380.89 | 176.54 |
Objective of Updater Services IPO 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 Basic Details
| IPO Date | Sep 25, 2023 to Sep 27, 2023 |
| Listing Date | Monday, October 9, 2023 |
| Face Value | ₹10 per share |
| Price | ₹280 to ₹300 per share |
| Lot Size | 50 Shares |
| Issue Size | 21,333,333 shares of ₹10 (aggregating up to ₹640.00 Cr) |
| Fresh Issue | 13,333,333 shares of ₹10 (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 8,000,000 shares of ₹10 (aggregating up to ₹240.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, BSE |
| Share holding pre issue | 53,369,355 |
| Share holding post issue | 66,702,688 |
| Company Promoters | Raghunandana Tangirala, Shanthi Tangirala and Tangi Facility Solutions Private Limited |
Updater Services IPO Reservation
| QIB Shares Offered | 75% of the Net Issue |
| NII (HNI) Shares Offered | 15% of the Net Issue |
| Retail Shares Offered | 10% of the Net Issue |
Updater Services IPO Timetable
Updater Services IPO will open on September 25, 2023 and close on September 27, 2023. You can join Updater Services IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 25 September 2023 (Monday) |
| Closing Date | 27 September 2023 (Wednesday) |
| Basis of Allotment | 4 October 2023 (Wednesday) |
| Initiation of Refunds | 5 October 2023 (Thursday) |
| Credit of Shares to Demat | 6 October 2023 (Friday) |
| Listing Date | 9 October 2023 (Monday) |
| Deadline for UPI mandate confirmation | 5 PM on 27 September 2023 |
Updater Services IPO Lot Size
For retail investors in Updater Services IPO, 50 shares will come in 1 lot or the minimum investment will be ₹15,000. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹195,000.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 50 | ₹15,000 |
| Retail (Max) | 13 | 650 | ₹195,000 |
| S-HNI (Min) | 14 | 700 | ₹210,000 |
| S-HNI (Max) | 66 | 3300 | ₹990,000 |
| B-HNI (Min) | 67 | 3350 | ₹1,005,000 |
Updater Services IPO Promoter Holding
The company’s promoters include Raghunandana Tangirala, Shanthi Tangirala and Tangi Facility Solutions Private Limited.
| Pre Issue Share Holding | 80.58% |
| Post Issue Share Holding | – |
Updater Services Ltd IPO Key Performance Indicator ( Valuation )
In the table given below, all the figures have been told according to the latest financial year.
| KPI | Values |
| Market Cap (₹ Cr.) | 2001 |
| Earning Per Share (EPS) | ₹6.70 per Equity Share |
| Net Asset Value (NAV) | ₹71.93 per Equity Share |
| P/E Ratio (P/E) (x) | 44.31 |
| Return on Net Worth (RoNW) (%) | 9.34 |
| Return on equity (ROE) (%) | 9.40 |
| Return on Capital Employed (ROCE) (%) | 14.17 |
| Debt/Equity Ratio | 0.46 |
Updater Services Ltd Peer Comparison
| Company Name | Consolidated/ Standalone | CPM (₹) | Face Value | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) |
| Updater Services Limited | Consolidated | 300.00 | 10 | 6.70 | 44.31 | 9.40 | 71.93 |
| Peer Group | |||||||
| Quess Corp Limited | Consolidated | 426.90 | 10 | 15.04 | 28.38 | 8.74 | 173.30 |
| SIS Limited | Consolidated | 462.55 | 5 | 23.43 | 19.74 | 14.85 | 160.11 |
| TeamLease Services Limited | Consolidated | 2,667.10 | 10 | 65.12 | 40.96 | 13.79 | 472.38 |
Updater Services IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| 23 September 2023 | ₹0 | – | – |
Updater Services IPO Detail Video:
Updater Services IPO Subscription Status (Bidding Detail)
The Updater Services IPO on September 27, 2023 at 7:30:00 PM was subscribed 2.96 times, with the retail category being subscribed 1.45 times, the NII (Non-Institutional Investor) category being subscribed 0.89 times, QIB (Qualified-Institutional Buyers) category being subscribed 4.50 times.
| Category | Subscription |
| QIB | 4.50x |
| NII | 0.89x |
| Retail | 1.45x |
| Total | 2.96x |
Updater Services IPO Prospectus
| Updater Services IPO DRHP | Download |
| Updater Services IPO RHP | Download |
| Updater Services IPO Anchor Investors Details PDF | Download |
Updater Services IPO Rating
| Our Rating | 3.5/5.0 |
Updater Services Company Contact Information
Updater Services Limited
Corporate Identity Number: U74140TN2003PLC051955
Registered Office: No. 2/302-A, UDS Salai, Off Old Mahabalipuram Road, Thoraipakkam, Chennai 600 097, Tamil Nadu, India
Corporate Office: First floor, 42, Gandhi Madapam Road, Kotturpuram,
Chennai 600 085, Tamil Nadu, India
Website: www.uds.in
Telephone: +91 44 24963234 / 0333;
Contact Person: Ravishankar B, Company Secretary and Compliance Officer
E-mail: compliance.officer@uds.in
The Promoters of Our Company Are Raghunandana Tangirala, Shanthi Tangirala
and Tangi Facility Solutions Private Limited
Updater Services IPO Registrar
Link Intime India Private Limited
Registered Office: C-101, 247 Park 1st Floor, L.B.S. Marg Vikhroli (West),
Mumbai 400 083, Maharashtra, India
Telephone: +91 810 811 4949
E-mail: uds.ipo@linkintime.co.in
Website: www.linkintime.co.in
Investor grievance e-mail: uds.ipo@linkintime.co.in
Contact person: Shanti Gopalkrishnan
SEBI registration number: INR000004058
Updater Services IPO Lead Manager
IIFL Securities Limited
Registered Office: 10th Floor, IIFL Centre Kamala City, Senapati Bapat Marg
Lower Parel (West), Mumbai 400 013, Maharashtra, India
Telephone: +91 22 4646 4728
E-mail: uds.ipo@iiflcap.com
Website: www.iiflcap.com
Investor grievance e-mail: ig.ib@iiflcap.com
Contact person: Mukesh Garg / Pawan Jain
SEBI registration number: INM000010940
Motilal Oswal Investment Advisors Limited
Registered Office: Motilal Oswal Tower, Rahimtullah Sayani Road
Opposite Parel ST Depot Prabhadevi, Mumbai 400 025, Maharashtra, India
Telephone: +91 22 7193 4380
E-mail: uds.ipo@motilaloswal.com
Website: www.motilaloswalgroup.com
Investor grievance e-mail: moiaplredressal@motilaloswal.com
Contact person: Ritu Sharma
SEBI registration number: INM000011005
SBI Capital Markets Limited
Registered Office: 1501, 15th Floor, A & B Wing, Parinee Crescenzo G Block,
Bandra Kurla Complex, Bandra (E), Mumbai 400 051, Maharashtra, India
Telephone: +91 22 4006 9807
E-mail: uds.ipo@sbicaps.com
Website: www.sbicaps.com
Investor grievance e-mail: investor.relations@sbicaps.com
Contact person: Janardhan Wagle / Krithika Shetty
SEBI registration number: INM000003531
Updater Services IPO FAQs
What is the lot size of Updater Services IPO?
The total size of Updater Services IPO is ₹640.00 crores out of which ₹400.00 crores is fresh issue and ₹240.00 crores is offer for sale (OFS).
When will Updater Services IPO start?
Updater Services IPO will open from 25 September 2023 and IPO will close on 27 September 2023.
What is the open date of Updater Services IPO?
Updater Services IPO will open date from 25 September 2023.
What is the last date ( close date ) of Updater Services IPO?
Updater Services IPO will close from 27 September 2023.
What is the price band of Updater Services IPO?
Updater Services IPO price band is ₹280 to ₹300.
What is the minimum amount required to apply for Updater Services IPO?
The minimum investment for retailers to apply for Updater Services IPO is ₹15,000 and the maximum investment is ₹195,000.
What is going on gray market premium of Updater Services IPO?
View gray market premium of Updater Services IPO by Clicking Here
How much is the GMP of Updater Services IPO?
Watch Updater Services IPO GMP Today: Click Here
What is the allotment date of Updater Services IPO?
The allotment date of Updater Services IPO is 4 October 2023.
How to check allotment status in Updater Services IPO?
To check the allotment status of Updater Services IPO, first of all go to the registrar website by clicking here, select your bad Updater Services IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of Updater Services IPO?
The listing date of Updater Services IPO is 9 October 2023.
How much will be the listing gain in Updater Services IPO?
View listing gain of Updater Services IPO by Clicking Here
How much time Updater Services IPO is subscribed?
Total 2.96 times subscribed in Updater Services IPO out of which 1.45 times subscription was done in retail quota, 0.89 times subscription in NII quota and 4.50 times subscription in QIB quota.
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