What is the issue size of Updater Services IPO?

The issue size of the Updater Services IPO is Rs 640 cr

What is 'pre-apply' for Updater Services IPO?

Pre-apply will alow you to apply for the Updater Services IPO 2 days before the subscription period starts.

If I pre-apply for Updater Services IPO, when will my order get placed?

Your order will be placed on the exchange as soon as the Updater Services IPO bidding starts. You will receive a UPI request within 24 hours after the bidding period opens.

When will I know if my Updater Services IPO order is placed?

We will notify you when your Updater Services IPO order is placed with the exchange.

What are the open and close dates of the for Updater Services IPO?

Updater Services IPO will be open between 25 Sept - 27 Sept, 2023.

What is the lot size and minimum order quantity of the Updater Services IPO?

Updater Services Limited IPO lot size is 50 shares.

What are the allotment dates for the Updater Services IPO?

Updater Services IPO allotment date is 4 Oct, 2023. For Updater Services IPO allotment status check, you can visit the website of the registrar of the IPO.

Who is the registrar of Updater Services IPO?

Updater Services IPO registrar is Link Intime India Private Ltd. You can check Updater Services IPO allotment status on the website of the registrar.

Where is the Updater Services IPO getting listed?

The shares are proposed to be listed on BSE and NSE.

Updater Services IPO

Updater Services Limited

₹14,000 /50 sharesMinimum Investment

Updater Services IPO Listing DetailsListed OnIssue PriceListing PriceListing Gains
BSE & NSE₹300.00₹300.00₹0.00 (0.00%)
Updater Services IPO DetailsBidding DatesMin. InvestmentLot SizePrice Range
25 Sep ‘23 - 27 Sep ‘23₹14,00050₹280 - ₹300
Issue SizeIPO Doc
640.00CrRHP PDF
Subscription Status As on 27 Sep '23, 5:00 PMQualified Institutional Buyers
4.48x
Non-Institutional Investor
0.85x
Retail Individual Investor
1.38x
Employees
0.00x
Total
2.90x
About Updater ServicesUpdater 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.;
Parent Organisation
Updater Services Limited
Founded
2003
Managing Director
Mr. Raghunandana Tangirala
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. 
Financials
*All values are in Rs. Cr
No Graph Data To Display
Application detailsApply asPrice bandApply upto
Regular₹280 - 300₹2 Lakh
High Networth Individual₹280 - 300₹2 - 5 Lakh
For Updater Services IPO, eligible investors can apply as Regular.

Listed On	Issue Price	Listing Price	Listing Gains
BSE & NSE	₹300.00	₹300.00	₹0.00 (0.00%)

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

Apply as	Price band	Apply upto
Regular	₹280 - 300	₹2 Lakh
High Networth Individual	₹280 - 300	₹2 - 5 Lakh

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