The leading, focused, and integrated business services provider company Updater Services IPO will be hit the market 25 September 2023 and closes on 27 September 2023. The Company has filed the RHP of this IPO. According to RHP, the company wants to raise ₹640.00 crore through IPO. The company will issue fresh shares of ₹400.00 crores through this IPO and will issue shares through offer for sale 8,000,000 shares.
The company has reserved 75% for QIB, 15% for NII and 10% for Retail Investor in this IPO.
Updater Services Limited is e a leading, focused, and integrated business services platform in India offering integrated facilities management (“IFM”) services and business support services (“BSS”) to our customers, with a pan-India presence. The company is the second largest player in the IFM market in India and have the widest service offering in the industry, making us a unique and differentiated player in the market. You can check Updater Services IPO GMP here.
The company offer Audit and Assurance services through our Subsidiary, Matrix and according to F&S Report, Matrix is a leading Audit and Assurance company for dealer / distributor audits, and retail audits and its strong branch reach and field associate reach has driven the company to reach the top spot in India with a market share of 19.2% in the Financial Year ended March 31, 2023.
| Read also: Upcoming IPO List 2023 |
The company grown to become a pan India player, with a widespread network consisting of 4,331 locations (excluding staffing locations) managed from 129 points of presence with 116 offices situated in India and 13 offices situated overseas, as of June 30, 2023. You can check Updater Services IPO subscription status here.
Object Of the Issue :
- Repayment and /or prepayment of certain borrowings availed by our Company.
- Funding our working capital requirements.
- Pursuing inorganic initiatives.
- General corporate purposes.
Company Strengths :
- 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 Review :
| Details | Valuation |
| PAT 2023 : Issue Price : EPS 2023 : PE Ratio : ROE : RoNW : ROCE : Debt/Equity : NAV Value : Total Assets : Market Cap : Pre Holding : Post Holding : | ₹34.61 Cr ₹300 Per Shares 6.77 44.31x 9.40 % 9.34 % 14.17 % 0.46 ₹71.93 ₹1216.95 Cr ₹2001.00 Cr 80.58 % – % |
| Team Review : | ✔ Apply For Long Term |
Updater Services IPO Date & Price Band & Details :
| Issue Type : | Book Built Issue |
| IPO Open : | 25 September 2023 |
| IPO Close : | 27 September 2023 |
| Face Value : | ₹10 Equity Share |
| Price Band : | ₹280 – ₹300 Per Share |
| Listing On : | BSE, NSE |
| Issue Size : | ₹640.00 Cr {21,333,333 Shares} |
| Fresh Issue : | ₹400.00 Cr {13,333,333 Shares} |
| Offer For Sale : | ₹240.00 Cr {8,000,000 Shares} |
Updater Services IPO Market Lot :
Updater Services IPO Minimum Market lot is 1 Lot with 50 shares with ₹15,000 Application amount. The retail investors can apply up to 13 lots with 650 Shares or ₹195,000 amounts.
| Application | Lot | Shares | Amount |
| Retail Minimum : | 1 | 50 | ₹15,000 |
| Retail Maximum : | 13 | 650 | ₹195,000 |
| S-HNI Minimum : | 14 | 700 | ₹210,000 |
| S-HNI Maximum : | 66 | 3300 | ₹990,000 |
| B- HNI Minimum : | 67 | 3350 | ₹1,005,000 |
Updater Services IPO Shares Offer :
A Total of 21,333,333 shares are to be bid for the public issue by Updater Services IPO with 13,333,333 for Fresh issue and 80,00,000 for offer for sale Shares.
| Category | Shares Offers | Amount |
| Fresh issue : | 13,333,333 | ₹400.00 Cr |
| Offer For Sale : | 80,00,000 | ₹240.00 Cr |
| Total : | 21,333,333 | ₹640.00 Cr |
Updater Services IPO Reservation :
Updater Services IPO Total Reservation of 21,333,333 shares are to be bid for the public issue by Updater Services IPO with 15,999,999 for QIB and 3,199,999 for NII 2,133,333 For RII.
| Category | Reservation | Shares | Amount |
| QIB : | 75% | 15,999,999 | ₹480.00 Cr |
| NII : | 15% | 3,199,999 | ₹96.00 Cr |
| RII : | 10% | 2,133,333 | ₹64.00 Cr |
| Total : | 100% | 21,333,333 | ₹640.00 Cr |
Updater Services IPO EPS & RoNW :
The Updater Services company’s EPS & RoNW growth is an Increasing last financial year, which is shown to you in the table here.
| Year | EPS (Rs.) | RoNW % | NAV |
| 2023 | ₹6.77 | 9.34% | ₹71.93 |
| 2022 | ₹10.47 | 16.24% | ₹64.45 |
| 2021 | ₹8.53 | 15.79% | ₹54.01 |
Updater Services IPO Peer Comparison PE :
The Updater Services, According to RHP of the company few company is listed whose PE Multiple is shown in this table.
| Sr. No. | Company | PE Ratio |
| 1. | Quess Corp Limited | 28.38 |
| 2. | SIS Limited | 19.74 |
| 3. | TeamLease Services | 40.96 |
Updater Services IPO Dates :
Updater Services IPO Date is 25 September 2023 and closes on 27 September 2023. The allotment will be finalized on 04 October 2023 and the IPO may list on 09 October 2023.
| Anchor Date : | 24 September 2023 |
| Open Date : | 25 September 2023 |
| Close Date : | 27 September 2023 |
| Allotment Date : | 04 October 2023 |
| Refund Date : | 05 October 2023 |
| Share Credit Date : | 06 October 2023 |
| Listing Date : | 09 October 2023 |
Updater Services IPO Form :
There are two ways to apply in Updater Services IPO. You can apply for Updater Services IPO through ASBA available in your bank account. You have to go to your online bank login and select Updater Services IPO in the Invest section and apply through your bank account. Another option is you can apply for Updater Services IPO through IPO form download through NSE and BSE. See the Updater Services IPO Form – Download the NSE Form and BSE Form IPO Form, fill it, and submit it to your bank or your broker.
Updater Services Company Financial Report (Crore) :
| Year | Revenue | Expense | PAT |
| 2023 | ₹2112.09 | ₹2057.90 | ₹34.61 |
| 2022 | ₹1497.89 | ₹1426.95 | ₹57.37 |
| 2021 | ₹1216.35 | ₹1161.93 | ₹47.56 |
Company Promoters :
■ Raghunandana Tangirala
Quick Link :
■ DRHP Draft Prospectus
■ RHP Draft Prospectus
■ Anchor Investor
Updater Services IPO Lead Managers :
■ IIFL Securities Limited
■ Motilal Oswal Investment Advisors Limited
■ SBI Capital Markets Limited
Updater Services IPO Registrar :
Link Intime India Private Limited
C-101, 247 Park,
1st Floor, L.B.S. Marg
Vikhroli (West)
Mumbai 400 083 Maharashtra, India
Telephone: + 91 810 811 4949
Email: [email protected]
Website: www.linkintime.co.in
Investor grievance e-mail: [email protected]
Note: Check Updater Services IPO allotment status Visit IPOBAZAR Allotment Page And Search Your Registrar IPO Allotment Link. Click Here
Company Address :
Updater Services Limited
No. 2/302-A, UDS Salai
Off Old Mahabalipuram Road, Thoraipakkam
Chennai, 600 097
Tamil Nadu, India
Telephone: +91 44 24963234 / 0333
Website: www.uds.in
Updater Services IPO FAQs :
What is Updater Services IPO?
Updater Services IPO is Mainboard IPO. They are going to raise ₹640.00 Crores via IPO. The issue is priced at ₹280-₹300 per equity share. The IPO is to be listed on NSE, BSE.
When Updater Services IPO will open?
The IPO is to open on 25 Sep – 27 Sep for QIB, NII & RII.
What is Updater Services IPO Size?
Updater Services IPO size is ₹640.00 Crores.
What is the Fresh issue size of Updater Services IPO?
The Fresh issue size of Updater Services IPO ₹400.00 Cr.
What is the Offer For Sale size of Updater Services IPO?
The Offer For Sale size of Updater Services IPO ₹240.00 Cr.
What is Updater Services IPO Price Band?
Updater Services IPO Price Band is ₹280-₹300 Per share.
What is Updater Services IPO Minimum and Maximum Lot Size?
The minimum 50 Shares with ₹15,0000 amount while the maximum 650 shares with ₹195,000.
What is Updater Services IPO Investors Portion?
The investors’ portion for QIB 75%, NII 15%, RII 10%.
What is Updater Services IPO Allotment Date?
Updater Services IPO allotment date is 04 October 2023.
What is Updater Services IPO Listing Date?
Updater Services IPO listing date is 09 October 2023. The IPO to list on NSE, BSE.
How to Apply the Updater Services IPO through Zerodha?
Log in to Console in Zerodha Website. Go to Portfolio and Click on IPO. You will see the IPO Name “Updater Services IPO”. 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.
How to Apply the Updater Services IPO through Upstox?
Log in to Upstox Website or app. Go to Portfolio and Click on IPO. You will see the IPO Name “Updater Services IPO”. 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.
How to Apply the Updater Services IPO through Groww?
Log in to Groww Website or app. Now you can see IPOs and Click on IPO. You will see the IPO Name “Updater Services IPO”. 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.
How to Apply the Updater Services IPO through Paytm Money?
Log in to the Paytm Money Website or app. Now you can see Invest is IPOs Section and Click on IPO. You will see the IPO Name “Updater Services IPO”. 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.
| Updater Services IPO GMP: Click Here Updater Services IPO Subscription: Click Here Updater Services IPO Allotment: Click Here Updater Services IPO Listing: Click Here Updater Services IPO Web Story: Click Here |
All Updater Services IPO-related links are available here. If you want to know the details then click on Click Here Link.
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