“Updater Services Limited’s IPO in the World of Business Support”

Updater services Limited- B2B service provider


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:

  1. IFM & Other Services Segment:
    • Production Support Services
    • Soft Services
    • Engineering Services
    • Washroom and Feminine Hygiene
    • Warehouse Management
    • General Staffing
    • And more
  2. 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

Updater Services Limited Details

Face Value₹10 per share
Price Band₹280 to ₹300 per share
Lot Size50 Shares
Total Issue Size21,333,333 shares
(aggregating up to ₹640.00 Cr)
Fresh Issue13,333,333 shares
(aggregating up to ₹400.00 Cr)
Offer for Sale8,000,000 shares of ₹10
(aggregating up to ₹240.00 Cr)
Share holding pre issue 53,369,355
Share holding post issue66,702,688

Updater Service Limited Timeline

IPO Open DateMonday, September 25, 2023
IPO Close DateWednesday, September 27, 2023
Basis of AllotmentWednesday, October 4, 2023
Initiation of RefundsThursday, October 5, 2023
Credit of Shares to DematFriday, October 6, 2023
Listing DateMonday, October 9, 2023

Key Performance Indicator

P/E (x)44.31
Market Cap (₹ Cr.)2001
EPS (Rs)6.77

Updater Services IPO Lot Size

Retail (Min)150₹15,000
Retail (Max)13650₹195,000
S-HNI (Min)14700₹210,000
S-HNI (Max)663,300₹990,000
B-HNI (Min)673,350₹1,005,000
Updater services IPO MANAGMENT

Company Financials

Period Ended31 Mar 202131 Mar 202231 Mar 2023
Profit After Tax47.5657.3734.61
Net Worth285.26340.43380.89
Total Borrowing11.6158.68176.54
Amount in ₹ Crore

Objects of the Issue

The objectives of the Fresh Issue are as follows:

  1. Repayment and/or prepayment of specific borrowings taken by the Company.
  2. Financing the Company’s working capital needs.
  3. Pursuing inorganic growth initiatives.
  4. 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.

OWNER of Updater Services

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:

GMP for Updater Services IPO has not started yet. We are updating the GMP information on a daily basis. Please visit us again soon for the latest GMP updates

check day by day GMP Details(Live Status)

Updater services limited logo

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