Updater Services Ltd

Updater Services Limited was incorporated in Chennai, Tamil Nadu as Updater Services Private Limited dated November 13, 2003 issued by the RoC, upon conversion of Updater Services, a Partnership Firm, into a Private Limited Company. Thereafter, Company wasconverted from a Private Limited Company to a Public Limited Company and consequently, name of the Company was changed to Updater Services Limited, and a fresh Certificate of Incorporation dated March 24, 2022 was issued to Company by the RoC.The Company is a leading, focused, and integrated business services platform in India offering integrated facilities management(IFM) services and business support services (BSS) to clients, with a panIndia presence. Within BSS segment, the Company offer Audit and Assurance services through its Subsidiary, Matrix which is a leading Audit and Assurance company for dealer / distributor audits, and retail audits and its strong branch reach and field associate reach has driven the company to reach the top spot in India. The portfolio of services include FMCG, manufacturing and engineering, BFSI, healthcare, IT / IteS, automobiles, logistics and warehousing,airports, ports, infrastructure and retail, among others.The Company was founded as a Partnership Firm between Raghunandana Tangirala and K. Hariharan, which commenced operations in 1990 as a housekeeping and catering services company at Chennai, Tamil Nadu. In 2002, the Company got into an agreement with SaintGobain Glass India Private Limited for providing operations services. In 2006, Avon Solutions and Logistics Private Limited, a mail room management company was acquired with 51% shareholding into the Company.Later, in January, 2017 Company acquired 100% shareholding in Stanworth Management Private Limited (SMPL) and consequently, SMPL became a wholly owned subsidiary of Company. It acquired equity shares of Fusion Foods and Catering Private Limited, which engaged in hospitality and industrial catering and became a wholly owned subsidiary of Company in November, 2021. The Company got into an agreement for providing and managing the human resource services at a hospital in Ahmedabad in 2018 and acquired 70% stake in Global Flight Handling Services Private Limited, acquired 75% shareholding in Matrix Business Services India Private Limited in April 2019 and became wholly owned Subsidiary 74% shareholding in Washroom Hygiene Concepts Private Limited in September, 2019 and became a wholly owned Subsidiary of Company on August 31, 2021. In 2022, the Company acquired 57% shareholding in Athena BPO Private LimitedThe Company is proposing Public Offer consisting of equity shares by raising capital of Rs 400 crore through fresh issue and by issuing 13,300,000 equity shares through offer for sale.