Last updated on October 5, 2023
Updater Services IPO Description – Updater Services is a leading, focused, and integrated business services platform offering integrated facilities management (IFM) services and business support services (BSS), with a pan-India presence. The company is the second largest player in the IFM market in India and has the widest service offering in the industry, making it a unique and differentiated player in the market.
The BSS segment offers Audit and Assurance services through the subsidiary, Matrix and according to F&S Report, Matrix is a leading Audit and Assurance company for dealer/distributor audits, and retail audits, and its strong branch reach and field associate reach has driven the company to reach the top spot in India, with a market share of 19.2% in the FY 2023.
The company also offers employee background verification check services through Matrix and in this segment, Matrix is the third largest company in India with a share of 5.4% in FY 2023.
Promoters of Updater Services – Raghunandana Tangirala and Shanthi Tangirala
Updater Services IPO Details
| Updater Services IPO Dates | 25 – 27 September 2023 |
| Updater Services IPO Price | INR 280 – 300 per share |
| Fresh issue | INR 400 crore |
| Offer For Sale | 8,000,000 shares INR 224 – 240 crore |
| Total IPO size | INR 624 – 640 crore |
| Minimum bid (lot size) | 50 shares INR 15,000 |
| Face Value | INR 10 per share |
| Retail Allocation | 10% |
| Listing On | BSE, NSE |
Updater Services Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 1,210.03 | 1,483.55 | 2,098.89 |
| Expenses | 1,161.93 | 1,426.95 | 2,057.90 |
| Net income | 35.58 | 54.65 | 48.17 |
| Margin (%) | 2.94 | 3.68 | 2.30 |
Updater Services Offer News
- Updater Services: A Unique Model Combining Facility Management and Business Support Services
- Updater Services RHP
- Updater Services DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Subscription Status
Updater Services Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 8.47 | 10.40 | 6.70 |
| PE ratio | – | – | 41.79 – 44.78 |
| RONW (%) | 15.79 | 16.24 | 9.34 |
| NAV | – | – | 71.93 |
| ROCE (%) | 22.59 | 20.23 | 14.17 |
| EBITDA (%) | 5.78 | 5.80 | 4.78 |
| Debt/Equity | 0.04 | 0.17 | 0.46 |
Updater Services IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 3 October 2023 | 3 | – | – |
| 2 October 2023 | 3 | – | – |
| 30 September 2023 | 4 | – | – |
| 29 September 2023 | 4 | – | – |
| 28 September 2023 | 4 | – | – |
| 27 September 2023 | 5 | – | – |
| 26 September 2023 | 15 | 300 | 450 |
| 25 September 2023 | 15 | 300 | 450 |
| 23 September 2023 | 15 | 300 | 450 |
Updater Services IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 64,28,571 | 33,42,857 | 22,28,571 | 1,19,99,999 |
| 27 Sep 2023 | 4.48 | 0.85 | 1.38 | 2.89 |
| 26 Sep 2023 | 0.00 | 0.12 | 0.68 | 0.16 |
| 25 Sep 2023 | 0.00 | 0.01 | 0.30 | 0.06 |
Updater Services IPO Allotment Status
Updater Services IPO allotment is now available on Link Intime’s website. Click on this link to get allotment status.
Updater Services IPO Dates & Listing Performance
| Updater Services IPO Opening Date | 25 September 2023 |
| Updater Services IPO Closing Date | 27 September 2023 |
| Finalization of Basis of Allotment | 30 September 2023 |
| Initiation of refunds | 30 September 2023 |
| Transfer of shares to demat accounts | 3 October 2023 |
| Updater Services IPO Listing Date | 4 October 2023 |
| Opening Price on NSE | INR 285 per share (down 5%) |
| Closing Price on NSE | INR 283.9 per share (down 5.37%) |
Updater Services IPO Reviews – Subscribe or Avoid?
Angel One –
Anand Rathi –
Antique Stock Broking –
Arihant Capital –
Ashika Research –
Asit C Mehta –
BP Wealth – Avoid
Canara Bank Securities – Subscribe
Choice Broking – Subscribe with Caution
Dalal & Broacha –
Elite Wealth –
GCL Broking –
Geojit –
GEPL Capital – Avoid
Hem Securities –
ICICIdirect –
Jainam Broking –
KR Choksey –
LKP Research –
Marwadi Financial –
Motilal Oswal –
Nirmal Bang –
Reliance Securities –
Religare Broking –
Samco Securities – Avoid
SMC Global – 1.5/5
Swastika Investmart –
Ventura Securities – Not Rated
Updater Services Offer Lead Manager
IIFL SECURITIES LIMITED
10th Floor, IIFL Centre, Kamala City,
Senapati Bapat Marg, Lower Parel (West),
Mumbai 400 013, Maharashtra
Phone: +91 22 4646 4728
Email:Â [email protected]
Website:Â www.iiflcap.com
Updater Services Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone:Â +91 22 4918 6200
Email:Â [email protected]
Website: www.linkintime.co.in
Updater Services Contact Details
UPDATER SERVICES LIMITED
No. 2/302-A, UDS Salai, Off Old Mahabalipuram Road,
Thoraipakkam, Chennai 600 097, Tamil Nadu
Phone:Â +91 44 24963234 / 0333
Email: [email protected]
Website: www.uds.in
Updater Services IPO FAQs
How many shares in Updater Services IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.
How to apply in Updater Services Public Offer?
The best way to apply in Updater Services public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Updater Services IPO GMP today?
Updater Services IPO GMP today is INR 3 per share.
What is Updater Services kostak rate today?
Updater Services kostak rate today is INR NA per application.
What is Updater Services Subject to Sauda rate today?
Updater Services Subject to Sauda rate today is INR NA per application.
