Updater Services IPO Date, Price, Subscription, Allotment, Listing Details
Updater Services Limited, Founded in 1990, specializes in providing facility management services and business support services (BSS) in the Business-to-Business (B2B) services sector. The company offers a wide range of business services, categorized into two main segments:
- IFM & Other Services Segment: This segment encompasses services such as Production Support Services, Soft Services, Engineering Services, Washroom and Feminine Hygiene Services, Warehouse Management, General Staffing, and more.
- BSS Segment: In this segment, the company, through its subsidiary Matrix, provides Audit and Assurance services. Additionally, Updater Services offers services like employee background verification checks, airport ground handling services, sales enablement services, and more through its various subsidiaries.
As of June 30, 2023, Updater Services Limited has served 2,797 customers across diverse industries, including prominent global and Indian clients like 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 operates on a pan-India scale, boasting a vast network of 4,331 locations (excluding staffing locations) managed through 129 points of presence. This network includes 116 offices within India and 13 offices located overseas, as of June 30, 2023.
Objects of the Issue (Updater Services IPO Objectives)
The company intends to utilize the net proceeds from the issue for the following purposes:
- 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 Details
The Updater Services IPO is a book-built issue with a total value of Rs 640.00 crores. This comprises a fresh issue of 1.33 crore shares, amounting to Rs 400.00 crores, and an offer for sale of 0.8 crore shares, totaling Rs 240.00 crores.
IPO Date | September 25, 2023 to September 27, 2023 |
Listing Date | October 9, 2023 |
Face Value | ₹10 per share |
Price Band | ₹280 to ₹300 per share |
Lot Size | 50 Shares |
Total Issue Size | 21,333,333 shares (aggregating up to ₹640.00 Cr) |
Fresh Issue | 13,333,333 shares (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 | BSE, NSE |
Share holding pre issue | 53,369,355 |
Share holding post issue | 66,702,688 |
DRHP Draft Prospectus: | Click Here |
RHP Draft Prospectus: | Click Here |
Updater Services IPO Reservation
QIB Shares Offered | Not less than 75% of the Offer |
NII (HNI) Shares Offered | Not more than 15% of the Offer |
Retail Shares Offered | Not more than 10% of the Offer |
Updater Services IPO Lot Size
Investors can bid for a minimum of 50 shares and increase their bid in multiples of 50 shares. See the table below for the minimum and maximum investment allowed for retail investors and HNIs in terms of shares and amounts.
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 | 3,300 | ₹990,000 |
B-HNI (Min) | 67 | 3,350 | ₹1,005,000 |
Updater Services IPO Dates
Updater Services IPO opens on September 25, 2023, and closes on September 27, 2023.
IPO Open Date | Monday, September 25, 2023 |
IPO Close Date | Wednesday, September 27, 2023 |
Basis of Allotment | Wednesday, October 4, 2023 |
Initiation of Refunds | Thursday, October 5, 2023 |
Credit of Shares to Demat | Friday, October 6, 2023 |
Listing Date | Monday, October 9, 2023 |
Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2023 |
Updater Services Limited Financial Report
Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
---|---|---|---|
Assets | 579.49 | 874.57 | 1,216.95 |
Revenue | 1,216.35 | 1,497.89 | 2,112.09 |
Profit After Tax | 47.56 | 57.37 | 34.61 |
Net Worth | 285.26 | 340.43 | 380.89 |
Reserves and Surplus | – | – | – |
Total Borrowing | 11.61 | 58.68 | 176.54 |
Key Performance Indicator of Updater Services Ltd
The market capitalization of Updater Services IPO stands at Rs 2,001 Crores, with a price-to-earnings (P/E) ratio of 44.31.
KPI | Values |
---|---|
P/E (x) | 44.31 |
Market Cap (₹ Cr.) | 2001 |
ROE | 9.40% |
ROCE | 14.17% |
Debt/Equity | 0.46 |
EPS (Rs) | 6.77 |
RoNW | 9.34% |
Updater Services IPO Promoter Holding
Raghunandana Tangirala, Shanthi Tangirala and Tangi Facility Solutions Private Limited are the company promoters.
Share Holding Pre Issue | 80.58% |
Share Holding Post Issue | – |
Updater Services IPO Contact Details
Updater Services Limited
No. 2/302-A, UDS Salai,
Off Old Mahabalipuram Road, Thoraipakkam,
Chennai 600 097, Tamil Nadu, India
Phone: +91 44 24963234 / 0333
Email: compliance.officer@uds.in
Website: https://www.uds.in/
Updater Services IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: uds.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
Updater Services IPO FAQs
What is Updater Services IPO?
Updater Services IPO is a main-board IPO of 21,333,333 equity shares with a face value of ₹10, aggregating up to ₹640.00 Crores. The issue price per share ranges from ₹280 to ₹300. The minimum order quantity is 50 shares. The IPO subscription period is from September 25, 2023, to September 27, 2023.
Link Intime India Private Ltd is the registrar for the IPO, and the shares are proposed to be listed on BSE and NSE.
How can I apply for Updater Services IPO through Zerodha?
Zerodha customers can apply for the Updater Services IPO online using UPI as the payment gateway. To apply, follow these steps:
1. Visit the Zerodha website and log in to Console.
2. Go to the Portfolio section and click on the IPOs link.
3. Find the ‘Updater Services IPO’ row and click the ‘Bid’ button.
4. Enter your UPI ID, Quantity of shares, and Price.
5. Submit the IPO application form.
6. Visit the UPI App (net banking or BHIM) to approve the mandate.
When does the Updater Services IPO open?
The Updater Services IPO opens on September 25, 2023, and closes on September 27, 2023.
What is the lot size for Updater Services IPO?
The lot size for Updater Services IPO is 50 shares, and the minimum investment required is ₹15,000.
How can I apply for Updater Services IPO?
You can apply for Updater Services IPO online using either UPI or ASBA as the payment method. ASBA IPO application is available through the net banking of your bank account, while UPI IPO application is offered by brokers who don’t provide banking services. For more details on how to apply, you can refer to the application process provided by Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank, and SBI Bank.
When will the Updater Services IPO allotment be finalized?
The finalization of the Basis of Allotment for Updater Services IPO will be done on Wednesday, October 4, 2023, and the allotted shares will be credited to your demat account by Friday, October 6, 2023. You can check the Updater Services IPO allotment status for confirmation.
When is the Updater Services IPO listing date?
The listing date for Updater Services IPO has not been announced yet. The tentative date for the Updater Services IPO listing is Monday, October 9, 2023.