Updater Services Limited
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Having completed its public offering, Updater Services Limited's is now listed and trading on the NSE, BSE exchange as of Oct 04, 2023. The IPO raised cumulative capital of 2,13,33,333 Shares, including 1,33,33,333 Shares in primary capital infusion and ₹240.00 Cr in secondary market transactions.
The IPO was conducted with a price range of ₹280 to ₹300 and minimum investment requirement of 50 shares. subscription activity between Sep 25, 2023 and Sep 27, 2023 reflected market assessment of the offering's valuation and prospects.
The allotment process finalized on Sep 30, 2023 distributed equity ownership to successful bidders. The listing established a transparent market mechanism for share trading, price discovery, and investor participation in the company's future growth.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in 1990, Updater Services Limited is a B2B services company offering facility management and business support services across India. Its business is divided into two segments: (1) IFM & Other Services – which includes production support, soft services, engineering services, washroom hygiene, warehouse management, general staffing, etc., and (2) BSS – where, through subsidiaries, it provides audit & assurance, employee background verification, airport ground handling, sales enablement and other business services. As of June 30, 2023, UDS served 2,797 customers including major brands like P&G, ABFRL, Microsoft, Hyundai and Saint-Gobain. The company has a wide pan-India presence with 129 points of presence, 116 offices in India and 13 offices overseas.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
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