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Updater Services IPO
Updater Services Limited
₹14,000 /50 sharesMinimum Investment
Updater Services IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 25 Sep ‘23 - 27 Sep ‘23 | ₹14,000 | 50 | ₹280 - ₹300 |
| Issue Size | IPO Doc |
|---|---|
| 640.00Cr | RHP PDF |
Subscription rate
| Qualified Institutional Buyers | 4.48x |
| Non-Institutional Investor | 0.85x |
| Retail Individual Investor | 1.38x |
| Employees | 0.00x |
| Total | 2.90x |
About Updater Services
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.
In 2017, the company received foreign direct investment without government approval. Private security agency services comprised less than 3% of the company's revenue and were not covered under this route. Any action taken by regulatory or statutory authorities could impact the company's business.
The company's profit decreased in 2023 compared to the previous two years. Further reductions or future losses could harm the company's business, financial situation, and the trading price of its equity shares.
There are ongoing legal proceedings involving the company, its promoters, subsidiaries, and directors. Unfavorable outcomes in these proceedings could result in liabilities, penalties, and harm the company's business.
As of March 31, 2023, the company's contingent liabilities and commitments, according to Ind AS 37, could negatively affect its financial condition.
In prior years, the company experienced negative cash flows from investing and financing activities and might do so in the future.
A significant portion of the company's revenue comes from a few geographical regions, particularly South India. Any adverse developments in these regions could negatively impact the company's business, cash flow, and financial condition.
The top 10 customers within the IFM & other services segment accounted for 33.96%, 35.30%, and 35.39% of the company's total income. Losing one or more of these significant customers, a substantial decrease in their service demand, or failing to secure future projects could adversely affect the company's financial condition and cash flow.
Updater Services Financials
*All values are in Rs. Cr
No Graph Data To Display
Application Details of Updater Services IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹280 - 300 | Upto ₹2 Lakh |
| High Networth Individual | ₹280 - 300 | ₹2 - 5 Lakh |
For Updater Services IPO, eligible investors can apply as Regular.