Updater Services Limited (UDS) is India’s largest facility management services company. Founded in 1990, UDS offers property management and business support services. They operate in the Business-to-Business (B2B) services space.
UDS has over 50,000 employees and a presence across India. Their services include: Warehouse management, Institutional catering, General staffing.
UDS reported revenue of ₹2,112 crores in 2023, compared to ₹1,498 crores in 2022. Their IPO price band is fixed at ₹280 to ₹300 per equity share. The IPO will list on BSE and NSE.
Updater Services 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.
Updater Services IPO Timeline
| Particular | Date |
| IPO Open Date | 25 Sep 2023 |
| IPO Close Date | 27 Sep 2023 |
| Allotment Date | 04 Oct 2023 |
| IPO Listing Date | 04 Oct 2023 |
Updater Services IPO Details
| Issue Type | Book Built Issue IPO |
| Face Value | Rs. 10 Per Equity Share |
| IPO Price | Rs. 280 to Rs. 300 Per Equity Share |
| Market Lot | 50 Share |
| ISIN Code | |
| Listing At | NSE & BSE |
| Issue Size | Approx. Rs. 640 Crore. |
Updater Services IPO Lot Size
| JSWC Application | Lots | Shares | Amount |
| Minimum | 1 | 50 | Rs. 15000 |
| Maximum | 13 | 650 | Rs. 195000 |
| Small HNI (Minimum) | 14 | 700 | Rs. 210000 |
| Big HNI (Minimum) | 67 | 3350 | Rs. 1005000 |
Updater Service IPO Details Allotment Status
Company Financials:
| Particular | 31 March 2023 | 31 March 2022 | 31 March 2021 |
| Total Assets | 1216.95 | 874.57 | 579.49 |
| Total Revenue | 2112.09 | 1497.89 | 1216.35 |
| Profit After Tax | 34.61 | 57.37 | 47.56 |
Company Promoters:
Raghunandana Tangirala, Shanthi Tangirala and Tangi Facility Solutions Private Limited are the company promoters.
Purpose of the Issue
- Repayment and /or prepayment of certain borrowings availed by the Company.
- Funding the working capital requirements.
- Pursuing inorganic initiatives.
- General corporate purposes.
Registrar & Company Details
| Company Contact Information | IPO Registrar |
| 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/ | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: uds.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
