The IPO date for Updater Services has been announced; the IPO will go public on September 25 and close on September 27. Updater Services IPO will raise about [.] crores through an IPO that will include a fresh issue of 400 shares and an offer for sale of up to 8,000,000 shares at a price of 10 rupees each. The retail share is 10%, the QIB share is 75%, and the HNI share is 15%.
Updater Services is a prominent, focused, and integrated business services platform in India, with a pan-India presence, providing integrated facilities management (“IFM“) services and business support services (“BSS“) to our customers. F&S Report (Source). They are the second largest player in India’s IFM market and have the industry’s broadest service offering, making us a unique and differentiated participant in the market. F&S Report (Source). Updater Services operates in the Business-to-Business (“B2B“)
services arena, providing a variety of business services that can be broadly categorised into two categories: (1) IFM & Other Services, and (2) BSS. The company’s service portfolio has also evolved over time to meet the needs of diverse customer segments in industries such as FMCG, manufacturing and engineering, banking, financial services and insurance (“BFSI“), healthcare, information technology/information technology-enabled services (“IT / ITeS“), automobiles, logistics and warehousing, airports, ports, infrastructure, and retail.
They served a diverse range of clients, including 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 (“Saint-Gobain“), Tata Consultancy Services Limited (“TCS“), LTIMindtree Limited (“Mindtree“), Honda Motorcycle and Scooter India Private Limited (“Honda“).
Updater Services IPO Date & Price Band Details
| IPO Open: | September 25, 2023 |
| IPO Close: | September 27, 2023 |
| IPO Size: | Approx ₹[.] Crores |
| Fresh Issue: | Approx ₹400 Crores |
| Offer for Sale: | Approx 8,000,000 Shares |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹[.] to ₹[.] Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 10% |
| QIB Quota: | 75% |
| NII Quota: | 15% |
| Discount: | N/A |
Objects 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 Review (Apply or Not)
- To be updated soon
Brokerage Firm IPO Review
- Capital Market: To be updated soon
- Religare Broking: To be updated soon
- Hem Securities: To be updated soon
- Arihant Capital: To be updated soon
Updater Services IPO Market Lot
The Updater Services IPO minimum market lot is [.] shares with ₹[.] application amount. The retail investors can apply up-to 13 lots with [.] shares or ₹[.] amount.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | – | ₹- |
| Retail Maximum | 13 | – | ₹- |
| S-HNI Minimum | 14 | – | ₹- |
| B-HNI Minimum | 68 | – | ₹- |
Updater Services IPO Allotment & Listing Dates
The Updater Services IPO date is September 25 and the close date is September 27. The Updater Services IPO allotment will be finalized on October 4 and the IPO listing on October 9.
| Anchor Investors Allotment: | September 24, 2023 |
| IPO Open Date: | September 25, 2023 |
| IPO Close Date: | September 27, 2023 |
| Basis of Allotment: | October 4, 2023 |
| Refunds: | October 5, 2023 |
| Credit to Demat Account: | October 6, 2023 |
| IPO Listing Date: | October 9, 2023 |
Updater Services IPO Form
How to apply for the Updater Services IPO? –> You can apply for the Updater Services IPO using your bank account’s ASBA. Simply go in to your online bank account and apply through your bank account by selecting the Updater Services IPO in the Invest section. You can also apply for Updater Services IPO using IPO forms downloaded from the NSE and BSE. Examine the Updater Services forms.
Updater Services Company Financial Report
| Year(₹ in Crores) | Revenue | Expense | PAT |
|---|---|---|---|
| 2021 | ₹1216 | ₹1162 | ₹47.56 |
| 2022 | ₹1498 | ₹1427 | ₹53.37 |
| 2023 | ₹2112 | ₹2058 | ₹34.61 |
Updater Services IPO Valuation – FY2023
Check Updater Services IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹6.77 per Equity Share |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 9.34% |
| Net Asset Value (NAV): | ₹71.93 per Equity Share |
Peer Group
- Quess Corp Limited
- SIS Limited
- TeamLease Services Limited
Company Promoters
- Raghunandana Tangirala
- Shanthi Tangirala
- Tangi Facility Solutions Private Limited
Updater Services IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in
Company Address
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: [email protected]
Website: https://www.uds.in
Updater Services IPO Lead Managers aka Merchant Bankers
- Iifl Securities Ltd
- Motilal Oswal Investment Advisors Limited
- SBI Capital Markets Limited
Updater Services IPO FAQs:
Q1. What is Updater Services IPO?
Ans. Updater Services IPO is a main-board IPO. They are going to raise ₹[.] Crores via IPO. The issue is priced at ₹[.] to ₹[.] pr equity share. The IPO is to be listed on BSE & NSE.
Q2. When Updater Services IPO will open?
Ans. The IPO is to open on September 25, 2023 for QIB, NII, and Retail Investors.
Q3. What is Updater Services IPO Investors Portion?
Ans. The investors’ portion for QIB is 75%, NII is 15%, and Retail is 10%.
Q4. How to Apply the Updater Services IPO?
Ans. You can apply for Updater Services IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.
Q5. How to Apply the Updater Services IPO through Zerodha?
Ans. Log in to Console in Zerodha Website or in Application. Go to Portfolio and Click on IPO. You will see the IPO Name “Updater Services”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Zerodha.
Q6. How to Apply the Updater Services IPO through Upstox?
Ans. Log in to the Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Updater Services”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox.
Q7. How to Apply the Updater Services IPO through Paytm Money?
Ans. Log in to Paytm Money Application with your credentials. Select the IPO. You will see the IPO Name “Updater Services”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Paytm Money.
Q8. What is Updater Services IPO Size?
Ans. Updater Services IPO size is ₹[.] crores.
Q9. What is Updater Services IPO Price Band?
Ans. Updater Services IPO Price Band is ₹[.] to ₹[.].
Q10. What is the Updater Services IPO Allotment Date?
Ans. Updater Services IPO allotment date is Octoher 4, 2023.
Q11. What is the Updater Services IPO Listing Date?
Ans. Updater Services IPO listing date is October 9, 2023. The IPO is to list on BSE and NSE.
