Table of Contents
Overview
Incorporated in 1990, Updater Services Limited specializes in facility management services and business support services (BSS). The company operates within the Business-to-Business (B2B) services sector, providing a wide range of business services categorized into two main segments:
- IFM & Other Services Segment:
- Production Support Services
- Soft Services
- Engineering Services
- Washroom and Feminine Hygiene
- Warehouse Management
- General Staffing
- And more
- BSS Segment:
- Audit and Assurance Services (Offered through the subsidiary, Matrix)
- Employee Background Verification Check Services
- Airport Ground Handling Services
- Sales Enablement Services
- And more, provided through its subsidiaries
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 Details
| Face Value | ₹10 per share |
| Price Band | ₹280 to ₹300 per share |
| Lot Size | 50 Shares |
| Total Issue Size | 21,333,333 shares (aggregating up to ₹640.00 Cr) |
| Fresh Issue | 13,333,333 shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 8,000,000 shares of ₹10 (aggregating up to ₹240.00 Cr) |
| Share holding pre issue | 53,369,355 |
| Share holding post issue | 66,702,688 |
Updater Service Limited Timeline
| IPO Open Date | Monday, September 25, 2023 |
| IPO Close Date | Wednesday, September 27, 2023 |
| Basis of Allotment | Wednesday, October 4, 2023 |
| Initiation of Refunds | Thursday, October 5, 2023 |
| Credit of Shares to Demat | Friday, October 6, 2023 |
| Listing Date | Monday, October 9, 2023 |
Key Performance Indicator
| KPI | Values |
| P/E (x) | 44.31 |
| Market Cap (₹ Cr.) | 2001 |
| ROE | 9.40% |
| ROCE | 14.17% |
| Debt/Equity | 0.46 |
| EPS (Rs) | 6.77 |
Updater Services IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 50 | ₹15,000 |
| Retail (Max) | 13 | 650 | ₹195,000 |
| S-HNI (Min) | 14 | 700 | ₹210,000 |
| S-HNI (Max) | 66 | 3,300 | ₹990,000 |
| B-HNI (Min) | 67 | 3,350 | ₹1,005,000 |
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 579.49 | 874.57 | 1,216.95 |
| Revenue | 1,216.35 | 1,497.89 | 2,112.09 |
| Profit After Tax | 47.56 | 57.37 | 34.61 |
| Net Worth | 285.26 | 340.43 | 380.89 |
| Total Borrowing | 11.61 | 58.68 | 176.54 |
Objects of the Issue
The objectives of the Fresh Issue are as follows:
- Repayment and/or prepayment of specific borrowings taken by the Company.
- Financing the Company’s working capital needs.
- Pursuing inorganic growth initiatives.
- General corporate purposes.
Updater Services IPO Review (AVOID)
The company has established a unique position in the market by providing a comprehensive range of services under a single roof. It also has strategic plans to introduce high-margin, value-added services incorporating cutting-edge technology. While the IPO might seem to have an ambitious pricing, it presents promising opportunities. Informed investors with a medium to long-term perspective may consider investing for potential rewards.
Updater Services Limited Subscription Status (Bidding Detail)
- Updater Services limited IPO subscribed:- 0.06 times on Sep 25, 2023, at 5:00 PM.
- Retail category subscription: 0.32 times.
- QIB category subscription: 0.00 times.
- NII category subscription: 0.01 times.
Check Day by Day Subscription Details (Live Status)
Updater Services Limited IPO GMP:
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