Updater Services IPO Details: Updater Services is set to launch its initial public offering (IPO) on September 25, 2023. The IPO will close on September 27, 2023. The company is looking to raise ₹640 crores through the IPO. The investors’ portion for QIB 75%, NII is 15%, Retail is 10%.
What is Updater Services IPO?
Updater Services Limited is an Indian business services platform offering integrated facilities management (IFM) and business support services (BSS). It is the second-largest player in the IFM market in India, with a pan-India presence.
The company is going public with an initial public offering (IPO) that opens on September 25, 2023, and closes on September 27, 2023. The price band for the IPO is ₹280 to ₹300 per share. The minimum order quantity is 50 shares.
The IPO is a book built issue of Rs 640.00 crores. The issue is a combination of fresh issue of 1.33 crore shares aggregating to Rs 400.00 crores and offer for sale of 0.8 crore shares aggregating to Rs 240.00 crores.
The proceeds from the fresh issue will be used to finance the company’s growth plans, including expanding its geographical reach, increasing its service offerings, and investing in technology and infrastructure.
The company’s key clients include Hyundai, Saint-Gobain, and P&G. It has a long track record of profitability and growth.
Overall, the Updater Services IPO is a good investment opportunity for investors looking to invest in a growing company with a strong track record.
Here are some key factors to consider before investing in the IPO:
- The company is the second-largest player in the IFM market in India, with a pan-India presence.
- It has a long track record of profitability and growth.
- The IPO proceeds will be used to finance the company’s growth plans.
- The company’s key clients include Hyundai, Saint-Gobain, and P&G.
However, investors should also be aware of the following risks:
- The company faces competition from other established players in the IFM market.
- The company’s business is cyclical and is dependent on the overall economic conditions.
- The company is exposed to risks such as foreign exchange fluctuations and changes in government regulations.
Overall, the Updater Services IPO is a good investment opportunity for investors looking to invest in a growing company with a strong track record. However, investors should carefully consider the risks involved before making an investment decision.
Objectives of Updater Services IPO
The objectives of the Updater Services IPO are as follows:
- To repay and/or prepay certain borrowings availed by the Company.
- To fund the working capital requirements of the Company.
- To pursue inorganic initiatives.
- To meet general corporate purposes.
In other words, the company plans to use the proceeds from the IPO to reduce its debt, fund its growth plans, and for other general expenses.
Updater Services is a growing company with a strong track record. It is well-positioned to benefit from the growth of the Indian economy and the increasing demand for IFM and BSS services. The IPO is a good opportunity for investors to invest in a company with strong growth potential.
Updater Services IPO Date & Price Band Details
| IPO Open: | September 25, 2023 |
| IPO Close: | September 27, 2023 |
| IPO Size: | Approx ₹640 Crores |
| Fresh Issue: | Approx ₹400 Crores |
| Offer for Sale: | Approx 8,000,000 Shares |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹280 to ₹300 Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 10% |
| QIB Quota: | 75% |
| NII Quota: | 15% |
| Discount: | N/A |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
Updater Services IPO Market Lot
The Updater Services IPO minimum market lot is 50 shares with ₹15,000 application amount. The retail investors can apply up-to 13 lots with 650 shares or ₹195,000 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 50 | ₹15,000 |
| Retail Maximum | 13 | 650 | ₹195,000 |
| S-HNI Minimum | 14 | 700 | ₹210,000 |
| B-HNI Minimum | 68 | 3350 | ₹1,005,000 |
Updater Services IPO Allotment & Listing Dates
The Updater IPO date is Septmber 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 |
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Updater Services IPO Subscription Status
For the latest update on the Updater Services IPO, you can check this dedicated page for IPO subscription status.
Updater Services IPO Allotment Status
For the latest update on the Updater Services IPO, you can check this dedicated page for IPO allotment status.
Updater Services IPO Forms
For IPO form for the Updater Services IPO, you can check this dedicated page for IPO Forms.
Updater Services IPO Financials
Updater Services IPO Financials
Key Financials (2 Year Growth % p.a.)
FY21 FY22 FY23
Revenue (Rs Cr) 31.7 1210 1718 (41.5%)
EBIT (Rs Cr) 4.3 51 105 (106%)
PAT (Rs Cr) -10.9 45 34.6 (-22.8%)
Net Worth (Rs Cr) 285 451 573 (27%)
Key Highlights
- Revenue has grown at a CAGR of 41.5% over the past 2 years.
- EBIT has grown at a CAGR of 106% over the past 2 years.
- PAT has declined by a CAGR of 22.8% over the past 2 years, mainly due to higher operating expenses.
- Net worth has grown at a CAGR of 27% over the past 2 years.
Overall, Updater Services has a strong financial performance with a healthy growth rate and a good balance sheet.
Pros and Cons of Updater Services IPO
| Pros | Cons |
|---|---|
| Market leader in the IFM industry in India | Faces competition from other established players |
| Long track record of profitability and growth | Business is cyclical and dependent on the overall economic conditions |
| Diversified customer base, including blue-chip companies | Exposed to risks such as foreign exchange fluctuations and changes in government regulations |
| Well-positioned to benefit from the growth of the Indian economy and the increasing demand for IFM and BSS services | High attrition rate |
| IPO proceeds will be used to finance the company’s growth plans | Trade receivables constitute a significant portion of its total assets |
Pros of Updater Services IPO:
- The company is the second-largest player in the IFM market in India, with a pan-India presence.
- It has a long track record of profitability and growth.
- The company has a diversified customer base, including blue-chip companies.
- The company is well-positioned to benefit from the growth of the Indian economy and the increasing demand for IFM and BSS services.
- The IPO proceeds will be used to finance the company’s growth plans.
Cons of Updater Services IPO:
- The company faces competition from other established players in the IFM market.
- The company’s business is cyclical and is dependent on the overall economic conditions.
- The company is exposed to risks such as foreign exchange fluctuations and changes in government regulations.
- The company has a high attrition rate.
- The company’s trade receivables constitute a significant portion of its total assets.
Overall, Updater Services IPO is a good investment opportunity for investors looking to invest in a growing company with a strong track record. However, investors should carefully consider the risks involved before making an investment decision.
Please note that this is not a recommendation to buy or sell shares in Updater Services IPO. Investors should do their own research and consult with a financial advisor before making any investment decisions.
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: uds.ipo@linkintime.co.in
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: compliance.officer@uds.in
Website: https://www.uds.in/
Updater Services IPO FAQs
There are two ways to apply for the Updater Services IPO:
Through a broker: This is the most common way to apply for an IPO. You will need to open a demat account with a broker if you do not already have one. Once you have a demat account, you can contact your broker to place your IPO application.
Through ASBA: ASBA stands for Application Supported by Blocked Amount. This is a method of applying for an IPO where the funds for your application are blocked in your bank account until the IPO is allotted. To apply for an IPO through ASBA, you will need to have a bank account that supports ASBA.
Here are the steps on how to apply for the Updater Services IPO through a broker:
Log in to your broker’s website or mobile app.
Go to the IPO section and select the Updater Services IPO.
Enter the number of shares you want to apply for and the price you are willing to pay.
Review your application and submit it.
If your application is successful, the funds for your application will be blocked in your bank account until the IPO is allotted. Once the IPO is allotted, the shares will be credited to your demat account.
Here are the steps on how to apply for the Updater Services IPO through ASBA:
Go to your bank’s website or mobile app.
Go to the ASBA section and select the Updater Services IPO.
Enter the number of shares you want to apply for and the price you are willing to pay.
Review your application and submit it.
Your bank will block the funds for your application in your bank account. Once the IPO is allotted, the shares will be credited to your demat account and the blocked funds will be released.
Please note that the eligibility criteria and application process for IPOs may vary from broker to broker. It is advisable to check with your broker for specific instructions on how to apply for the Updater Services IPO.
Updater Services is set to launch its initial public offering (IPO) on September 25, 2023.
Updater Services IPO size is ₹640 crores.
Updater Services IPO Price Band is ₹280 to ₹300 per equity share.
The IPO bid is 50 shares with ₹15,000.
Updater Services IPO allotment date is October 04, 2023.
Updater Services IPO listing date is October 09, 2023. The IPO to list on NSE & BSE.