The Updater Services IPO started on September 25, 2023, and ended on September 27, 2023. Shares were allocated on October 4, 2023, and refund processes began on October 5, 2023. On October 6, 2023, the shares were credited to investors demat accounts. Updater Services was officially listed on the stock exchange on October 9, 2023.
During the IPO, Updater Services offered shares at a price range of ₹280 to ₹300 per share, and the lot size was 50 shares. The total issue size was ₹640.00 crores, with ₹400.00 crores from new shares and ₹240.00 crores from shares for sale. The IPO was listed on both the NSE and BSE.
Regarding share reservations, 75% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 10% were set aside for retail investors.
Updater Services Limited IPO Subscription Update Video
Updater Services IPO Subscription Status
The Updater Services IPO on September 26, 2023 was subscribed 0.17 times, with the retail category being subscribed 0.72 times, the NII (Non-Institutional Investor) category being subscribed 0.12 times, the QIB (Qualified-Institutional Buyers) category being subscribed 0.00 times.
| Category | Subscription |
| QIB | 0.00x |
| NII | 0.12x |
| Retail | 0.72x |
| Total | 0.17x |
Updater Services IPO Basic Details
| Company Name | Updater Services Limited |
| Domain of Company | Management and Business Support Services |
| Updater Services IPO Open Date | September 25, 2023 |
| Updater Services IPO Close Date | September 27, 2023 |
| Updater Services IPO Allotment Date | October 4, 2023 |
| Updater Services IPO Listing Date | 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 |
| Company Promoters | Raghunandana Tangirala, Shanthi Tangirala and Tangi Facility Solutions Private Limited |
About Updater Services Limited
Updater Services Limited, established in 1990, provides facility management and business support services (BSS). We specialize in Business-to-Business (B2B) services and have two main segments:
- IFM & Other Services Segment: This includes services like Production Support, Soft Services, Engineering, Washroom and Feminine Hygiene, Warehouse Management, General Staffing, and more.
- BSS Segment: Under this segment, our subsidiary, Matrix, offers Audit and Assurance services. Additionally, we provide employee background verification checks, airport ground handling, sales enablement services, and more through our subsidiaries.
As of June 30, 2023, we have served 2,797 customers across various sectors, including well-known global and Indian clients 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 others.
Updater Services Limited operates nationwide with an extensive network of 4,331 locations (excluding staffing locations). We manage these from 129 points of presence, with 116 offices in India and 13 overseas offices, as of June 30, 2023.
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Updater Services IPO FAQs
What is the start and end date of Updater Services IPO Subscription?
The Updater Services IPO started on September 25, 2023, and ended on September 27, 2023.
When does Updater Services IPO Subscription open?
The Updater Services IPO open on September 25, 2023.
When does Updater Services IPO Subscription close?
The Updater Services IPO Close on September 27, 2023.
What is the allotment date of Updater Services IPO?
The allotment date for Updater Services IPO is October 4, 2023.
When is the initial refund date of Updater Services IPO?
The initial Refund date for Updater Services IPO is October 5, 2023.
When were the shares credited to investors demat accounts for the Updater Services IPO?
The shares for the Updater Services IPO were credited to investors demat accounts on October 6, 2023.
When will Updater Services IPO be listed on the stock market?
Updater Services IPO stock market will be listed on October 9, 2023 at 10 am.
What was the price range of the Updater Services IPO shares?
The Updater Services IPO shares were offered at a price range of
₹280 to ₹300 per share.
What was the lot size for the Updater Services IPO shares?
The lot size for the Updater Services IPO shares was 50 shares.
What was the total issue size of the Updater Services IPO?
The total issue size of the Updater Services IPO was ₹640.00 crores.
How were the shares allocated among different types of investors for the Updater Services IPO?
75% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 10% were set aside for retail investors.
On which stock exchanges was the Updater Services IPO listed?
The Updater Services IPO was listed on both the NSE and BSE.
What is the Updater Services IPO Subscription Status?
Updater Services IPO is subscribed Times.
