IPO Details
Bidding Dates
25 Sep '23 - 27 Sep '23
Minimum Investment
₹15,000 / 1 Lots ( 50 Shares )
Price Range
₹280 - ₹300
Maximum Investment
₹195,000 / 13 Lots ( 650 Shares )
Retail Discount
Not Applicable
Issue Size
₹640.00 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Sep 25, 2023
IPO Closing Date
Sep 27, 2023
Basis of Allotment
Oct 4, 2023
Initiation of Refunds
Oct 5, 2023
Credit of Shares to Demat Account
Oct 6, 2023
IPO Listing Date
Oct 9, 2023
UPI mandate confirmation
Sep 27, 2023
Updater Services IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Sep 25, 2023 |
0.00 | 0.01 | 0.32 | 0.06 |
Day 2Sep 26, 2023 |
0.00 | 0.12 | 0.69 | 0.16 |
Updater Services IPO Subscription Live Status
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyers | 0.00 |
| Non-Institutional Buyers | 0.12 |
| Retail Investors | 0.69 |
| Total | 0.16 |
About Updater Services Ltd
Updater Services Limited was incorporated in 1990, and it is one of the leading providers of integrated facility management (IFM) services and business support services (BSS). The IFM services mainly include soft services, production support services, warehouse management, etc. In contrast, the BSS segment deals with Audit services, sales enablement services, etc.
The company has evolved into an integrated business services platform with a pan-India presence serving customers across industries and business service lines in the past years. It operates in the Business-to-Business (B2B) space, and it generates revenues from 2 segments, which include the IFM & Other Services Segment and the BSS Segment. For FY 2023, the company derived ~71.52% of revenue from the IFM segment and the remaining ~28.48% from Business Support Services.
The Indian IFM market has witnessed rapid growth over the last decade and is set to see significant growth momentum over the next 5 years. In addition, people's desires for a secure, hygienic environment have developed, which has raised the demand for IFM services. The government's ambition to create 100 smart cities will lead to an increase in the building of infrastructure, and the demand for IFM services is likely to experience a significant rise.
Updater Services Limited IPO Details
Updater Services Limited IPO Date
Updater Services Limited IPO combines a fresh issue and an Offer for Sale. The fresh issue comprises 1,33,33,333 shares aggregating up to ₹400 crore, and the offer for sale comprises 80,00,000 shares of ₹10 aggregating up to ₹240 crore. Updater Services Limited ’s IPO will be listed on the BSE and NSE on October 09, 2023. It is a book-built-issue IPO.
Updater Services Limited IPO Price Band
The price range of the IPO has been fixed at ₹280 to ₹300 per share.
Updater Services Limited IPO Lot Size
The Updater Services Limited IPO lot size is 50 shares, and the minimum investment will be ₹15,000.
Updater Services Limited IPO Objectives
The objectives of Updater Services Limited IPO are listed below:
- Repayment and prepayment of certain borrowings.
- Funding its working capital requirements.
- Pursuing inorganic initiatives.
- For general corporate purposes.
Peer Details
As per DRHP, Updater Services Limited has 3 listed peers:
- Quess Corp Limited.
- SIS Limited.
- TeamLease Services Limited.
How To Check the Allotment Status of the Updater Services Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Updater Services Limited
Registered office: No. 2/302-A, UDS Salai, Off Old Mahabalipuram Road,
Thoraipakkam, Chennai 600 097, Tamil Nadu, India
Phone: +91 44 24963234 / 0333
E-mail:compliance.officer@uds.in
Updater Services Limited Company Financials
| Particulars | Period ending on March 31, 2022 (₹ in million) | Period ending on March 31, 2021 (₹ in million) | Period ending on March 31, 2020 (₹ in million) |
|---|---|---|---|
| Total Income | 2,112.09 | 1,497.89 | 1,216.35 |
| Profit After Tax (PAT) | 34.61 | 57.37 | 47.56 |
| Assets | 1,216.95 | 874.57 | 579.49 |
| Total Borrowings | 176.54 | 58.68 | 11.61 |
Know before investing
Strengths
3-
The company operates a well-diversified business across multiple sectors, helping the company to generate ample recurring business. In addition, the business possesses a diversified customer base, showcasing no material dependence on a few customers.
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Updater Services Limited has a decent capability to drive inorganic growth and maintains a track record of successful acquisition and integration of high-margin business segments. The company would also be focused on acquisitions in future to strengthen its market share.
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Looking forward, the company will be focused on growing its market position and for that, it is aiming to launch new products and services leading to revenue growth.
Risks
2-
The company has recently witnessed a fall in its net profit due to increased costs. The continuous fall in the bottom line could impact the business performance and future share prices.
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The company and its promoters and subsidiaries face outstanding legal proceedings. Any adverse decision could adversely affect the business growth.
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Updater Services Ltd IPO FAQs
Updater Services Limited IPO is a mix of fresh issue and offer for sale. The fresh issue comprises 1,33,33,333 shares aggregating up to ₹400 crore, and the offer for sale comprises 80,00,000 shares of ₹10 aggregating up to ₹240 crore. The price range of the IPO has been decided at ₹280 to ₹300 per share.
The Basis of Allotment will be on October 04, 2023.
The IPO subscription window will open on September 25, 2023.
Retail investors can apply for a minimum of one lot containing 69 shares.
Updater Services Limited IPO will be listed on BSE and NSE. The date of listing is October 09, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Listing gains cannot be ascertained before listing the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
