₹ 15000 / 50 shares
₹ 640.00 Cr
Retail Gain/Listing Gain
Updater Services Limited is a leading business services platform in India offering integrated facilities management (IFM) services and business support services (BSS), with a pan-India presence. The company is the second largest player in the IFM market in India and has the widest service offering in the industry, making it a unique and differentiated market player (Source: F&S Report).
Within the BSS segment, they offer Audit and Assurance services through their subsidiary, Matrix. According to the F&S Report, Matrix is a leading Audit and Assurance company for dealer/distributor audits, with a market share of 19.2% in the Financial Year ended 31st March 2023.
In addition, the company also provides employee background verification services through Matrix, which ranks as the third-largest company in India, holding a market share of 5.4% in FY'23 (Source: F&S Report). Furthermore, the company delivers sales enablement services through its other subsidiaries, namely, Denave and Athena. Updater Services also extends mailroom management services through its subsidiary, Avon, which is the market leader in India, commanding an 11.1% share in the mailroom management services market in FY'23 (Source: F&S Report).
With that, let's take a look at the competitive strengths and risk factors for Updater Services Limited:
Here are the key financials for Updater Services Limited
Particulars (in Rs. million)
How to apply for IPO through ASBA
The Updater Services Limited IPO has an issue size of Rs. 640 crores. The IPO opens for subscription on 25th September and closes on 27th September 2023.
Link Intime India Private Limited is the registrar for this IPO.