Updater Services Limited
Mainboard₹15,000 / 50 Shares
Updater Services Limited IPO Details
The Updater Services Limited IPO price band is set between ₹280-300 per equity share, with a face value of ₹10 per share. The issue is managed by Link Intime India Private Ltd, and the equity shares are proposed to be listed on the Mainboard.
The IPO date for subscription opens on 25 Sep, 2023 and closes on 27 Sep, 2023. Investors can check the allotment status on 30 Sep, 2023, while the listing date is tentatively scheduled for 4 Oct, 2023.
The total issue size is Total ₹640 Cr :#Fresh Issue : 13,333,333 shares, aggregating up to ₹400.00 Cr. Stay tuned for the latest Updater Services Limited IPO review and GMP updates.
Updater Services Limited IPO Review, Rating & Analysis
Updater Services Limited IPO Review
NO REVIEWUpdater Services Limited IPO Rating
Updater Services Limited IPO Highlights
IPO Date
Sep 25, 2023 - Sep 27, 2023
Listing Date
4 Oct, 2023
Face Value
₹10 Per Equity Share
Price Band
₹280-300 per equity share
Lot Size
50 Shares
Fresh Issue
13,333,333 Shares
Offer for Sale
8,000,000 shares of ₹10
Listing At
BSE, NSE
Updater Services Limited IPO Lot Size
The minimum market lot for Updater Services Limited IPO is 50 shares with an application amount of ₹15,000. Retail investors can apply for up to 13 lots. The table below details the minimum and maximum investment limits for Retail and HNI investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹15,000 |
| Retail (Max) | 13 | 650 | ₹1,95,000 |
| S-HNI (Min) | 14 | 700 | ₹2,10,000 |
| S-HNI (Max) | 66 | 3300 | ₹9,90,000 |
| B-HNI (Min) | 67 | 3350 | ₹10,05,000 |
Updater Services Limited IPO Timeline
Issue Price
₹280-300 per equity shareFace Value
₹10 Per Equity ShareListing at Group
BSE, NSERegistrar
Link Intime India Private LtdLead Manager
Iifl Securities LtdMotilal Oswal Investment Advisors LimitedSBI Capital Markets LimitedIssue Size
Total ₹640 Cr :#Fresh Issue : 13,333,333 shares(aggregating up to ₹400.00 Cr) +
#OFS : 8,000,000 shares of ₹10(aggregating up to ₹240 Cr)
Updater Services Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 23 | 1216.95 | 2112.09 | 34.61 | - | - | - |
| 31 Mar 22 | 874.57 | 1497.89 | 57.37 | - | - | - |
| 31 Mar 21 | 579.49 | 1216.35 | 47.56 | - | - | - |
All values are in ₹ Cr.
Promoters & Share Holding
Promoter(s) Name
- Raghunandana Tangirala
- Shanthi Tangirala
- Tangi Facility Solutions Private Limited
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 80.58% | 58.47% |
About Company
Updater Services Limited offers facility management services and business support services (BSS). The company operates in the Business-to-Business (B2B) services space offering a spectrum of business services, which are broadly classified into the two following segments: 1. IFM & Other Services Segment; and 2. BSS Segment.
In FM & Other Services Segment; Production Support Services, Soft Services, Engineering Services, Washroom and Femmenine Hygiene, Warehouse management, General Staffing and more.
In the BSS segment, the company offers Audit and Assurance services through the Subsidiary, Matrix. UDS also offer employee background verification check services, airport ground handling services, sales enablement services and more through its subsidiaries.
As of June 30, 2023, UDS served 2,797 customers across various sectors, including certain global and Indian customers such as 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 and more.
Updater Services Limited is 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.
Updater Services Limited IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 6,400,000 | 3,200,000 2,133,333 1,066,666 | 2,133,333 | 11,733,333 |
Day 1 -25-09-23 05:00 PM | 0.00 x | 0.01 0.00 x 0.03 x | 0.30 x | 0.06 x |
Day 2 -26-09-23 05:00 PM | 0.00 x | 0.12 0.15 x 0.08 x | 0.72 x | 0.17 x |
Day 3 -27-09-23 05:00 PM | 4.48 x | 0.85 1.02 x 0.51 x | 1.38 x | 2.90 x |
1.16 times
Frequently Asked Questions about Updater Services Limited IPO
When will Updater Services Limited IPO open for subscription?
The Updater Services Limited IPO opens on 25 Sep, 2023 and closes on 27 Sep, 2023.
What is the investors portion for Updater Services Limited IPO?
The investors' portion for QIB is 4.48 x, NII is 1.02 x, and Retail is 1.38 x.
How to apply for Updater Services Limited IPO?
You can apply for Updater Services Limited IPO via ASBA online through your bank account. You can also apply via UPI through stock brokers like Zerodha, Upstox, or Paytm Money.
What is the issue size of Updater Services Limited IPO?
The issue size of Updater Services Limited IPO is approx ₹Total ₹640 Cr :#Fresh Issue : 13,333,333 shares(aggregating up to ₹400.00 Cr) +#OFS : 8,000,000 shares of ₹10(aggregating up to ₹240 Cr) crores.
What is the price band of Updater Services Limited IPO?
The price band for Updater Services Limited IPO is ₹280 to ₹300 per equity share.
What is the lot size of Updater Services Limited IPO?
The minimum bid (lot size) for Updater Services Limited IPO is N/A shares with an investment of approx ₹15,000 .
What is the allotment date of Updater Services Limited IPO?
The allotment date for Updater Services Limited IPO is 30 Sep, 2023.
What is the listing date of Updater Services Limited IPO?
The listing date for Updater Services Limited IPO is expected to be 4 Oct, 2023.
What is the GMP of Updater Services Limited IPO?
The latest Grey Market Premium (GMP) for Updater Services Limited IPO is being updated regularly on IPOROCK.
Parth D.
Founder & Lead Analyst
Parth D. is a software engineer and financial analyst who brings a quantitative edge to IPO tracking. With deep expertise in algorithmic trading and financial tool development, he builds the technology that powers IPORock's real-time data engines. He has been tracking the Indian market since 2018.