Updater Services Ltd
Price Range
₹280 - ₹300
Min. Quantity
50
Closes on
27 September 2023
Min. investment
₹15,000/650 Shares
Updater Services Ltd IPO Timeline
Updater Services Limited was incorporated in Chennai, Tamil Nadu as Updater Services Private Limited' dated November 13, 2003 issued by the RoC, upon conversion of Updater Services', a Partnership Firm, into a Private Limited Company. Thereafter, Company was
| Event | Date |
|---|---|
| Updater Services Ltd IPO Opening Date | 25 September 2023 |
| Updater Services Ltd IPO Closing Date | 27 September 2023 |
| Basis of Allotment | 28 September 2023 |
| Initiation of Refunds | 29 September 2023 |
| Credit of Shares to Demat | 3 October 2023 |
| Updater Services Ltd IPO Listing Date | 4 October 2023 |
Updater Services Ltd IPO Details
| Updater Services Ltd IPO Date | 25 September 2023 to 27 September 2023 |
| Updater Services Ltd IPO Face Value | ₹10 per share |
| Updater Services Ltd IPO Price | ₹280 to ₹300 per share |
| Updater Services Ltd IPO Lot Size | 50 |
| Issue Size | Shares of ₹10 (aggregating up to ₹640 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹400 Cr) |
| Offer for Sale | Shares of ₹10 (aggregating up to ₹240 Cr) |
| Issue Type | (Book Built Portion) |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not more than 64,28,571 of the Net Offer |
| Retail Shares Offered | Not less than 22,28,571 of the Net Offer |
| NII (HNI) Shares Offered | Not less than 33,42,857 of the Net Offer |
| Company Promoters | Raghunandana Tangirala, Shanthi Tangirala, Tangi Facility Solutions Pvt L |
Updater Services Ltd IPO Lot Size
The Updater Services Ltd IPO lot size is 50 shares. A retail-individual investor can apply for up to 13 lots (650 shares or ₹1,95,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 50 | ₹15,000 |
| Maximum | 13 | 650 | ₹1,95,000 |
- Strengths
- Risks
- Opportunities
- 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 its current and future business.
- Highly experienced Management team with support from PE Investors.
Company Financials
Updater Services Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2024 | 1,223.5 | 1,445.77 | 35.30 |
| 03-2023 | 913.61 | 1,337.09 | 32.41 |
| 03-2022 | 610.77 | 1,084.5 | 36.94 |
| Amount in ₹ Crore | |||
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- Repayment and/or prepayment of certain borrowings availed by the company
- Funding the company working capital requirements
- Pursuing inorganic initiatives
- General corporate purposes
Updater Services Ltd IPO Promoter Holding
| Pre Issue Share Holding | 29.21% |
| Post Issue Share Holding | 23.37% |
Updater Services Ltd IPO Subscription Status (Bidding Detail)
The Updater Services Ltd IPO is subscribed 2.9 times on 27 September 2023 05:00:00 PM. The public issue subscribed 1.39 times in the retail category, 4.48 times in the QIB category, and 0.85 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
| Subscription (times) | 4.48 | 0.85 | 1.39 | - | 2.9 |
Updater Services Ltd IPO Prospectus
Updater Services Ltd IPO Listing Date
| Listing Date | 4 October 2023 |
| BSE Script | 543996 |
| NSE Symbol | UDS |
| Listing In | BSE, NSE |
| ISIN | INE851I01011 |
| IPO Price | ₹300 |
| Face Value | ₹10 |
Company Contact Information
#2/302-A UDS Salai Off OldMahabalipuram Rd Thoraipakkam,Chennai-600097
Phone: +91 44 24963234/0333
Email: compliance.office@uds.in
Website: www.uds.in
Updater Services Ltd IPO Registrar
Updater Services Ltd IPO Lead Manager(s)
- IIFL Securities Ltd
- Motilal Oswal Investment Advisors Ltd
- SBI Capital Markets Ltd
FAQ
What is the issue size of Updater Services Ltd IPO?
I have pre-applied for Updater Services Ltd IPO. When will my order get placed?
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for TBI Corn Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.