Updater Services IPO

Updater Services Limited

₹14,000 /50 sharesMinimum Investment

Updater Services IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
25 Sep ‘23 - 27 Sep ‘23₹14,00050₹280 - ₹300
Issue SizeIPO Doc
640.00Cr
RHP PDF

Subscription rate

Qualified Institutional Buyers4.48x
Non-Institutional Investor0.85x
Retail Individual Investor1.38x
Employees0x
Total2.9x

About Updater Services

Updater Services is a business services provider based in India. Incorporated in 2003, the company delivers a comprehensive range of integrated facilities management (IFM) services and business support services (BSS) to its customers nationwide. The company extends audit and assurance services in the BSS segment through its subsidiary, Matrix. It also provides services for employee background checks, sales enablement, airport ground handling, mailroom management, and niche logistics solutions. Within the IFM & other services segment, Updater Services offers various solutions, including soft services, production support services, engineering services, washroom and feminine hygiene care solutions, warehouse management, general staffing, and institutional catering.;
Founded in
2003
Managing director
Mr. Raghunandana Tangirala
Parent organisation
Updater Services Limited

Strengths & Financials of Updater Services

Strengths
Risks
With a history spanning over three decades, the company originated as a facilities management company based in Chennai. Over time, they expanded their operations across India and now stand as the second-largest IFM company in the country.
Besides its core services, the company has ventured into the procurement and supply of essential items for the facilities management sector.
In India's highly fragmented soft services market, the company has a 4.1% market share as of March 31, 2023. They are also a leading provider of services to the healthcare industry.
In the PSS segment, the company leads the Indian market, with a 2.0% market share as of March 31, 2023, and serving the automotive sector.
As of June 30, 2023, the company has a network encompassing 4,667 locations. They operate from 112 offices within India and 13 offices overseas.
The company has a history of successful inorganic growth, achieved through strategic acquisitions that complement its core business segments, diversify revenue streams, and enhance its service portfolio.

Updater Services Financials

*All values are in Rs. Cr
No Graph Data To Display

Application Details of Updater Services IPO

Apply asPrice bandApply upto
Regular280 - 300₹2 Lakh
High Networth Individual280 - 300₹2 - 5 Lakh
For Updater Services IPO, eligible investors can apply as Regular.
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