₹ 15000 / 50 shares
IPO Details
Issue Date
--
Min Investments
₹ 15000
Issue Price
300
Lot Size
50
IPO Size
₹ 640.00 Cr
IPO Listing Details
Listing On
4 Oct'23
Issue Price
300
Listed Price
₹ 285
Retail Gain/Listing Gain
▼-5.00%
IPO Timeline
Company Background
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:
Risk Factors
- The company will not receive any proceeds from the offer for sale.
- The company faces significant employee-related regulatory risks, and significant disputes with employees and/or concerned regulators may adversely affect business prospects, cash flows, results of operations and financial condition.
- Operational risks are present in the business, as it includes providing services in different business environments.
Key Strategies
- Retain, strengthen and grow customer base.
- Grow market share in key segments.
- Introduce new products and services catering to existing and new customer segments.
Key Financials
Here are the key financials for Updater Services Limited
Particulars (in Rs. million)
How to apply for IPO through ASBA
Kotak Securities
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Kotak Securities
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How to apply for an IPO using UPI
Updater Services Limited FAQs
What is the Updater Services Limited IPO?
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.
Who is the Registrar for Updater Services Limited IPO?
Link Intime India Private Limited is the registrar for this IPO.
Where can I read more about Updater Services Limited’s business?
You may read more about Updater Services Limited and its IPO from the company’s red herring prospectus (RHP) here:
