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Let’s have a detailed review of the company and analytics of the Updater Services IPO release date, IPO offer price, subscription, Updater Services Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.

Face Value Rs 10
Price Band Rs [●]
Listing At BSE, NSE
Min. Order Quantity NA Shares
Listing Date NA
Offer for Sale Rs Million
Fresh Issue Rs 4,000 Million
IPO Size Rs Million
Tick Size 1

Updater Services IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.

Live Performance – Updater Services Share Price

Updater Services IPO – Summary

Updater Services IPOThey are a leading, focused, and integrated business services platform in India offering integrated facilities management (“IFM”) services and business support services(“BSS”) to their clients, with a pan-India presence.

Now, they are the second largest player in the market in India and have the widest service offering in the industry, making us a unique and differentiated player in the market. Within their BSS segment, they offer Audit and Assurance services through their Subsidiary.

The Promoter of this company is RAGHUNANDANA TANGIRALA AND SHANTHI TANGIRALA. The lead manager of the issue is IIFL Securities Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited, and the Registrar of this issue is Link Intime India Private Limited.

Updater Services IPO Date

The opening and closing dates of Updater Services IPO are not available yet.

Updater Services IPO Subscription

Day / Date QIB NII RII Total Subscription
1st Day – 
2nd Day –
3rd Day – 
Shares Offered or Net Issue

The shares subscribed by the public will be updated here.

Updater Services IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares are pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.

Updater Services Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing, and more:

Basis of Allotment Finalization
Refunds Initiation
Credit of Shares to Demat Account
Share Listing Date

Updater Services IPO Price Band

The face value of each share is Rs.10, but the price band of the IPO is Rs.[●] 

Updater Services IPO Equity Size

This Initial Public Issue of 13,300,000 Equity Shares of Rs.10 each for cash at a price of Rs.[●] per equity share aggregating to Rs.[●] Million.

Updater Services IPO Share Offering

Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 13,300,000 Equity Shares of Rs.10/ each.

Issue Size: 13,300,000 Equity Shares of Rs.10 each, aggregating to Rs.[●] Million

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    Updater Services IPO – Live Performance

    The listing date of this IPO is [●]. You can check the live performance of the IPO here, only after it is listed on exchanges.

    Live IPO Performance – Updater Services Share Price

    Updater Services IPO Grey Market Premium

    The Updater Services Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X. 

    Updater Services IPO – Company Overview

    Their Company was founded by Raghunandana Tangiralawho has over 30 years of experience in the integrated business services industry.

    So, they commenced operations in 1990 as a housekeeping and catering services company situated in Chennai, Tamil Nadu. Over the years, they have evolved into an integrated business services platform with a pan India presence serving customers across industries and business service lines.

    They are led by a well-qualified and experienced management team, which has robust experience in the sectors in which they operate, and which has demonstrated its ability to manage and grow their operations across segments that they operate in.

    They operate in the Business-to-Business (“B2B”) services space offering a spectrum of business services, which are broadly classified into the two followings segments:1.IFM & Other ServicesSegment; and 2.BSS Segment.

    Updater Services IPO – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

    Financial Summary:

    Amount (in INR & Million)
    30-Sep-22 31-Mar-22 Mar-21 31-Mar-20
    Total Assets
    *Total Revenue
    Total Expense
    Profit After Tax

    Earnings per Equity Share (in Million)

    30-Sep-22 31-Mar-22 Mar-21 31-Mar-20
    Basic & Diluted

    Further, their PAT for the period ended on Sep 30, 2022, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 201.93 Million, Rs. 573.69 Million, Rs. 475.61 Million and Rs. 330.78 Million respectively.

    Updater Services IPO – Promoters

    The Promoter of this company is:


    List of Related Parties (Key Managerial Personnel)

    • Raghunandana Tangirala, Chairman and Managing Director
    • Amitabh Jaipuria, Additional Director (ExecutiveDirector
    • Pondicherry Chidambaram Balasubramanian, Executive Director (Whole time Director)
    • Amit Choudhary, Independent Director
    • Sunil Rewachand Chandiramani, Independent Director

    Updater Services IPO – Promoters Holding

    • Pre-Issue Share Holding – %
    • Post-Issue Share Holding – %

    Updater Services IPO Offer Details or Issue Details

     Particulars  No. Of Equity Shares
     Equity Shares Offered  Up to X Equity Shares aggregating up to Rs.[●] Million
    of which:
    Issue Reserved for the Market Makers Up to [●] Equity Shares aggregating up to Rs.[●]
    Net Issue to the Public Up to [●] Equity Shares aggregating up to Rs.[●]
    Of which:
    Retail Investors Portion Not less than [●] Equity Shares
    Other than Retail Individual Investors Not more than [●] Equity Shares
     Equity Shares outstanding prior to the Issue 52,952,467 Equity Shares
     Equity Shares outstanding after the Issue X Equity Shares

    Updater Services IPO Issue Object

    Their Company proposes to utilize the Net Proceeds towards funding the following objects:

    1. Repayment and /or prepayment of certain borrowings availed by their Company;

    2. Funding their working capital requirements;

    3. Pursuing inorganic initiatives; and

    4. General corporate purposes

    Updater Services IPO – Business Strategy

    • Retain, strengthen and grow the customer base with a focus on deepening relationships with existing customers
    • Grow market share in key segments
    • Introduce new products and services catering to existing and new customer segments
    • Pursue inorganic growth through strategic acquisitions of high-margin businesses supplemental to their operations
    • Continue to improve operating margins

    Updater Services IPO – Basis of Offer Price

    The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

    Qualitative factors are:

    • Leading integrated business services platform, operating across diverse segments
    • Longstanding relationship with customers across diverse sectors leading to the recurring business
    • Track record of successful acquisition and integration of high-margin business segments
    • Pan India presence with a large and efficient workforce coupled with strong recruitment capabilities
    • Technology at the forefront of their current and future business
    • Highly experienced Management team with backing from large PE Investors

    The relevant quantitative factors are:

    Basic & Diluted EPS RONW (%) NAV (Rs.)

    Updater Services IPO: Competitive Peers

    Face Value (Rs.) P/E EPS (Rs.) Return on Net Worth (%) Revenue from Operations (Rs. in Million)
    Updater Services Limited 10 [●]
    Listed Peers
    Quess Corp Limited
    SIS Limited
    TeamLease Services Limited

    Updater Services IPO Lead Managers

    Lead Managers

    IIFL Securities Limited

    Motilal Oswal Investment Advisors Limited

    SBI Capital Markets Limited

    Updater Services IPO Registrar to offer

    Registrar to the Offer
    Link Intime India Private Limited
    C-101, 247 Park1stFloor,L.B.S. Marg
    Vikhroli (West), Mumbai 400 083
    Maharashtra, IndiaTelephone: +91 810 811 4949
    E-mail: uds.ipo@linkintime.co.in
    Website: www.linkintime.co.in
    Investor grievance e-mail: uds.ipo@linkintime.co.in
    Contact person: ShantiGopalkrishnan
    SEBI registration number: INR00000405

    Updater Services IPO – Other Details

    • Statutory Auditor – S. R. Batliboi & Associates LLP
    • Legal Counsel to the Company Khaitan & Co
    • Bankers to the Company – HDFC Bank Limited

    Updater Services IPO Review by Stock Brokers

    Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
    Angel Broking 7.5/10 7.4/10 8.5/10 8.1/10 7.1/10
    Sharekhan 7.2/10 7.1/10 8.6/10 8.1/10 7.2/10
    Kotak Securities 7.3/10 7.5/10 8.4/10 8.1/10 7.3/10
    ICICI Direct 7.3/10 7.3/10 8.7/10 8.1/10 7.1/10
    IIFL 7.5/10 7.2/10 8.8/10 8.0/10 7.1/10
    Edelweiss 7.5/10 7.4/10 8.4/10 8.3/10 7.2/10
    Zerodha 7.4/10 7.1/10 8.5/10 8.1/10 7.0/10
    5Paisa 7.1/10 7.1/10 8.4/10 8.1/10 7.1/10
    Karvy 7.4/10 7.3/10 8.2/10 8.1/10 7.1/10
    Motilal Oswal 7.1/10 7.1/10 8.6/10 8.3/10 7.2/10


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      Updater Services Limited IPO News

      News 1 – IPO DRHP Download

      News 2 – IPO RHP Prospectus Download

      Updater Services IPO Review FAQs

      Check out various FAQs related to Updater Services IPO:

      What is the Issue Size of Updater Services IPO?

      The Company is making an initial public offer of 13,300,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.

      What is the Price band of Updater Services IPO?

      The price band for this particular IPO ranges between Rs NA. As far as the face value of the share is of concern, it is Rs. 10 per share.

      What is the Updater Services IPO Open Date?

      The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.

      What is the Updater Services IPO Allotment Date?

      They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.

      What is the Updater Services IPO Listing Date?

      Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.

      Who is the Registrar of Updater Services IPO?

      One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.

      Who is the Promoter of Updater Services IPO?

      Here are the promoters of this IPO – RAGHUNANDANA TANGIRALA AND SHANTHI TANGIRALA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

      What is the GMP of Updater Services IPO?

      They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.

      Is Updater Services IPO Good for Investment?

      They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

      What is the PAT of Updater Services Company?

      They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Million is 573.69, 2021 is 475.61, and 2020 is 330.78. PAT from Sep 2022 is 201.93.

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