Updater Services is scheduled to hit the market on September 25, 2023 and close on September 27, 2023. JSW Infrastructure plans to raise around ₹640.00 Cr through an IPO with a sale of up to 21,333,333 equity shares of ₹10 each. The retail quota is 10%, QIB is 75%, and HNI is 15%.
Founded in 1990, Updater Services Limited is a key player in the realm of facility management services and business support services (BSS). Operating in the Business-to-Business (B2B) services sector, they offer a wide spectrum of business solutions categorized into two primary segments: IFM & Other Services Segment and BSS Segment.
Within the IFM & Other Services Segment, Updater Services provides an extensive array of services, including Production Support Services, Soft Services, Engineering Services, Washroom and Feminine Hygiene services, Warehouse management, General Staffing, and more. In the BSS segment, the company extends its offerings through subsidiaries. This includes Audit and Assurance services offered through its subsidiary, Matrix. Additionally, Updater Services delivers employee background verification check services, airport ground handling services, sales enablement services, and various other solutions, enhancing their presence and expertise in the B2B services space
Updater Services IPO Details
Updater Services IPO opens on Sept 25, 2023, and closes on Sep 27, 2023. The Listing date for Updater Services IPO is on Oct 09, 2023. The price band for IPO is ₹280 to ₹300 per share and lot size of 50 Shares.
| IPO Date | Sept 25, 2023 to Sept 27, 2023 |
| Listing Date | Oct 09, 2023 |
| Price | ₹280 to ₹300 per share |
| Lot Size | 50 Shares |
| Issue Size | ₹640.00 Cr |
| Face Value | ₹10 per share |
Updater Services IPO Tentative Timetable
Updater Services opening date is September 25, 2023 and close date is September 27, 2023. The IPO allotment date is October 4, 2023. The refund initiation of IPO is on October 5, 2023. The credit of shares in demat account is on October 6, 2023. The listing date is on October 9, 2023.
| Event | Date |
|---|---|
| IPO Opening | Sept 25, 2023 |
| IPO Closing | Sept 27, 2023 |
| IPO Allotment Date | Oct 04, 2023 |
| Refund Initiation | Oct 05, 2023 |
| Shares Credit to Demat | Oct 06, 2023 |
| Lisiting Date | Oct 09, 2023 |
Updater Services IPO Lot Size
Lot Size of this IPO is 50 shares. A retail-individual investor can apply for up to 13 lots (650 shares or ₹195,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 50 | ₹15,000 |
| Retail(Maximum) | 13 | 650 | ₹195,000 |
| S-HNI (Minimum) | 14 | 700 | ₹210,000 |
| B-HNI (Minimum) | 67 | 3,350 | ₹1,005,000 |
Updater Services IPO Promoter Holding
| Pre Issue Share Holding | 80.58% |
| Post Issue Share Holding |
Updater Services IPO Review
Updater Services Ltd. (UDS) is a notable integrated business services platform in India, offering a wide range of services including integrated facilities management (IFM) and business support services (BSS). Here are some key points to consider regarding UDS and its upcoming IPO. UDS is recognized as the second-largest player in the IFM market in India, indicating its substantial presence in the industry. It's known for having the broadest service offering in the sector, setting it apart as a unique and differentiated player. UDS has pursued a growth strategy that includes both organic expansion and strategic acquisitions. These acquisitions have not only diversified its service portfolio but also allowed it to offer more value-added services connected to customers' revenue and growth objectives.
UDS operates in various segments within the BSS category. This includes Audit and Assurance services, where its subsidiary, Matrix, has achieved a leading market position with a significant share. Matrix is also active in the employee background verification check services segment. Denave, another subsidiary, is the largest player in the sales enablement services segment. Additionally, UDS provides mailroom management services through its subsidiary, Avon, where it is a market leader.
UDS boasts a substantial customer base, with 1,427 customers in the IFM segment and 1,669 customers in the BSS segment as of March 31, 2023. As of June 30, 2023, UDS operates from 4,331 locations across India and internationally, managed from 129 points of presence, with 116 offices in India and 13 offices overseas. UDS is supported by a significant workforce, employing 65,627 employees across its operations as of June 30, 2023.
Given its prominent presence in the IFM and BSS sectors in India and its strategic growth initiatives, UDS appears to be a noteworthy player in the business services industry.
Updater Services IPO Subscription Status (Bidding Details)
| Investor | Subscription |
|---|---|
| Qualified Institutions (QII) | 0 |
| Non-Institutional Buyers | 0 |
| bNII (bids above ₹10L) | 0 |
| sNII (bids below ₹10L) | 0 |
| Retail Investors(RII) | 0 |
| Employees | 0 |
| Others | 0 |
| Total | 0 |
Updater Services IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Updater Services IPO FAQs
What is Updater Services IPO?
Updater Services is issuing 21,333,333 equity shares with a face value of ₹10 each, totaling up to ₹640.00 Cr. The shares are being offered at a price of ₹280 to ₹300 each, with a minimum order quantity of 50 shares.
Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Updater Services IPO will open?
Updater Services will open on September 25, 2023 for QIB, NII, and Retail Investors.
When Updater Services IPO will end?
Updater Services will end on September 27, 2023.
What is Updater Services IPO Size?
Updater Services IPO size is 640.00 Cr.
What is Updater Services IPO Price Band?
Updater Services price band is ₹280 to ₹300.
What is the Updater Services IPO Allotment Date?
Updater Services allotment date is 04 October 2023.
What is the Updater Services IPO Listing Date?
Updater Services listing date is 09 October 2023. The IPO is to be listed on BSE and NSE.
How to Apply Updater Services IPO through Zerodha?
To apply for the IPO “Updater Services” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Updater Services IPO through Upstox?
To apply for the IPO “Updater Services” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Updater Services IPO Allotment Status?
For Updater Services IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Updater Services IPO GMP?
You can check out here: Updater Services IPO GMP