Updater Services IPO Price: ₹280 to ₹300 per share
IPO Date Range: Sep 25, 2023 - Sep 27, 2023
Updater Services Limited, incorporated in 1990, has established itself as a leading provider of facility management and business support services (BSS) in India.
The company operates in the Business-to-Business (B2B) services space, offering a wide range of business services. These services are divided into two main segments:
The company has shown consistent growth over the years. For the fiscal year ending March 31, 2023, the company reported total assets of ₹1,216.95 crores, revenue of ₹2,112.09 crores, and a profit after tax of ₹34.61 crores.
As of June 30, 2023, UDS served a diverse clientele of 2,797 customers across various sectors. Some of their notable clients include Procter & Gamble Home Products Limited (P&G), Aditya Birla Fashion and Retail Limited (ABFRL), Microsoft, Hyundai Motor India Limited, and Saint-Gobain India Private Limited. The company has a pan-India presence with 4,331 locations managed from 129 points of presence, including 116 offices in India and 13 overseas offices.
| IPO Date | September 25, 2023 to September 27, 2023 |
| Listing Date | Monday, October 9, 2023 |
| 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) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 53,369,355 |
| Share holding post issue | 66,702,688 |
The minimum lot size to apply in this Updater Services Limited IPO consists of 105 shares, requiring an investment of ₹14,700.
| 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 |
| QIB Shares Offered | Not less than 75% of the Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Offer |
| Retail Shares Offered | Not more than 10% of the Offer |
| 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 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2023 |
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As of March 31, 2023, the company's assets stood at ₹1,216.95 crores, with a revenue of ₹2,112.09 crores. The profit after tax for the same period was ₹34.61 crores. Here, you can get the complete data of the past three years:
| 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 |
| Reserves and Surplus | |||
| Total Borrowing | 11.61 | 58.68 | 176.54 |
The market capitalization of Updater Services Limited IPO stands at Rs 608.3 Crore, with a P/E ratio of 15.71.
| KPI | Values |
|---|---|
| P/E (x) | 15.71 |
| Market Cap (₹ Cr.) | 608.3 |
| ROE | 33.73% |
| ROCE | 22.76% |
| Debt/Equity | 0.59 |
| EPS (Rs) | 8.91 |
| RoNW | 28.86% |
Updater Services aims to channel the net proceeds from the IPO towards:
Prospectus: Official documents that provide detailed information about the IPO and the company. Updater Services IPO DRHP and Updater Services IPO RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Updater Services" IPO is ₹280 to ₹300 per share.
The "Updater Services" IPO is expected to be listed on Monday, October 9, 2023.
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