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Updater IPO is a book build issue of ₹640.00 crores. The issue is a combination of fresh issue of 1.33 crore shares aggregating to ₹400.00 crores and offer for sale of 0.80 crore shares aggregating to ₹240.00 crores.
Updater IPO bidding started from Sep 25, 2023 and ended on Sep 27, 2023. The allotment for Updater IPO was finalized on Sep 28, 2023. The shares got listed on BSE, NSE on Oct 4, 2023.
Updater IPO price band is set at ₹300.00 per share . The lot size for an application is 50. The minimum amount of investment required by an retail is ₹14,000 (50 shares). The lot size investment for sNII is 14 lots (700 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (3,350 shares), amounting to ₹10,05,000.
IIFL Capital Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Updater IPO RHP for detailed Information.
| IPO Date | September 25, 2023 to September 27, 2023 |
| Listing Date | October 4, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹280 to ₹300 per share |
| Issue Price Final | ₹300 per share |
| Lot Size | 50 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,13,33,333 shares (aggregating up to ₹640.00 Cr) |
| Fresh Issue | 1,33,33,333 shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 80,00,000 shares of ₹10 (aggregating up to ₹240.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 6,67,02,688 shares |
Updater Services IPO offers total 2,13,33,333 shares. Out of which 1,60,00,001 (75.00%) allocated to QIB, 64,00,001 (30.00%) allocated to QIB, 31,99,999 (15.00%) allocated to NII, 21,33,333 (10.00%) allocated to RII and 96,00,000 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,60,00,001 (75.00%) | NA |
| − Anchor Investor Shares Offered | 96,00,000 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 64,00,001 (30.00%) | NA |
| NII (HNI) Shares Offered | 31,99,999 (15.00%) | NA |
| − bNII > ₹10L | 21,33,333 (10.00%) | 3,047 |
| − sNII < ₹10L | 10,66,666 (5.00%) | 1,523 |
| Retail Shares Offered | 21,33,333 (10.00%) | 42,666 |
| Total Shares Offered | 2,13,33,333 (100.00%) |
Updater IPO raises ₹288.00 crore from anchor investors. Updater IPO Anchor bid date is September 22, 2023. Updater IPO Anchor Investors list
| Bid Date | September 22, 2023 |
| Shares Offered | 96,00,000 |
| Anchor Portion Size (In Cr.) | 288.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 28, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 27, 2023 |
Updater IPO opens on September 25, 2023, and closes on September 27, 2023.
| IPO Open Date | Mon, Sep 25, 2023 |
| IPO Close Date | Wed, Sep 27, 2023 |
| Tentative Allotment | Thu, Sep 28, 2023 |
| Initiation of Refunds | Fri, Sep 29, 2023 |
| Credit of Shares to Demat | Tue, Oct 3, 2023 |
| Tentative Listing Date | Wed, Oct 4, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Sep 27, 2023 |
Investors can bid for a minimum of 50 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹15,000 |
| Retail (Max) | 13 | 650 | ₹1,95,000 |
| S-HNI (Min) | 14 | 700 | ₹2,10,000 |
| S-HNI (Max) | 66 | 3,300 | ₹9,90,000 |
| B-HNI (Min) | 67 | 3,350 | ₹10,05,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1990, Updater Services Limited offers facility management services and business support services ("BSS"). The company operates in the Business-to-Business ("B2B") services space offering a spectrum of business services, which are broadly classified into the two following segments: 1. IFM & Other Services Segment; and 2. BSS Segment.
In FM & Other Services Segment; Production Support Services, Soft Services, Engineering Services, Washroom and Femmenine Hygiene, Warehouse management, General Staffing and more.
In the BSS segment, the company offers Audit and Assurance services through the Subsidiary, Matrix. UDS also offer employee background verification check services, airport ground handling services, sales enablement services and more through its subsidiaries.
As of June 30, 2023, UDS served 2,797 customers across various sectors, including certain global and Indian customers such as Procter & Gamble Home Products Limited ("P&G"), Aditya Birla Fashion and Retail Limited ("ABFRL"), Microsoft, Hyundai Motor India Limited ("Hyundai"), Saint-Gobain India Private Limited and more.
Updater Services Limited is a pan India player, with a widespread network consisting of 4,331 locations (excluding staffing locations) managed from 129 points of presence with 116 offices situated in India and 13 offices situated overseas, as of June 30, 2023.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 579.49 | 874.57 | 1,216.95 |
| Total Income | 1,216.35 | 1,497.89 | 2,112.09 |
| Profit After Tax | 47.56 | 57.37 | 34.61 |
| Net Worth | 285.26 | 340.43 | 380.89 |
| Reserves and Surplus | |||
| Total Borrowing | 11.61 | 58.68 | 176.54 |
The market capitalization of Updater IPO is ₹2001.00 Cr.
| KPI | Values |
|---|---|
| ROE | 9.40% |
| ROCE | 14.17% |
| Debt/Equity | 0.46 |
| RoNW | 9.34% |
Objects of the Fresh Issue:
1. Repayment and /or prepayment of certain borrowings availed by the Company.
2. Funding the working capital requirements.
3. Pursuing inorganic initiatives.
4. General corporate purposes.
[Dilip Davda] The company has created a niche place in the area of services it is offering under one roof. It has planned up the sleeve high margin and value-added services with the latest technology in its portfolio. Though the IPO appears aggressively priced, it holds promising prospects. Well-informed investors may park funds for medium to long-term rewards. Read detail review...
Updater Services Limited IPO: Adjusted P/E on Post-Money Basis works out to 25x
| Listing Date | October 4, 2023 |
| BSE Script Code | 543996 |
| NSE Symbol | UDS |
| ISIN | INE851I01011 |
| Final Issue Price | ₹300 per share |
| BSE Listing Group | B |
Updater Services Ltd.
No. 2/302-A, UDS Salai,
Off Old Mahabalipuram Road, Thoraipakkam,
Chennai 600 097, Tamil Nadu, India
Chennai, Tamil Nadu
Phone: +91 44 24963234 / 0333
Email: compliance.officer@uds.in
Website: https://www.uds.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: uds.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Updater IPO is a main-board IPO of 2,13,33,333 equity shares of the face value of ₹10 aggregating up to ₹640.00 Crores. The issue is priced at ₹300 per share. The minimum order quantity is 50.
The IPO opens on September 25, 2023, and closes on September 27, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Updater IPO using UPI as a payment gateway. Zerodha customers can apply in Updater IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Updater IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Updater IPO opens on September 25, 2023 and closes on September 27, 2023.
Updater IPO lot size is 50, and the minimum amount required for application is ₹15,000.
You can apply in Updater IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Updater IPO will be done on Thursday, September 28, 2023, and the allotted shares will be credited to your demat account by Tuesday, October 3, 2023. Check the Updater IPO allotment status.
The Updater IPO listing date is on Wednesday, October 4, 2023.
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