Updater Services Limited | Globe Capital Market LTD.
Updater Services Limited
Price Band
Sep 25, 2023 to Sep 27, 2023
IPO Issue Period
₹280 to ₹300 per share
Issue Size
₹640.00 Cr
Face value
₹10 per share
Fresh issue
₹400.00 Cr
Offer for sale
₹240.00 Cr
Minimum Shares for Retail
Listing on
Issue Type
Book Building
Registrar to the Issue
Link Intime India Private Ltd
Tentative Listing Date
October 9, 2023

Iifl Securities Ltd
Motilal Oswal Investment Advisors Limited
SBI Capital Markets Limited

Incorporated in 1990, Updater Services Limited offers facility management services and business support services (“BSS”). The company operates in the Business-to-Business (“B2B”) services space offering a spectrum of business services, which are broadly classified into the two following segments: 1. IFM & Other Services Segment; and 2. BSS Segment.

In FM & Other Services Segment; Production Support Services, Soft Services, Engineering Services, Washroom and Femmenine Hygiene, Warehouse management, General Staffing and more.

In the BSS segment, the company offers Audit and Assurance services through the Subsidiary, Matrix. UDS also offer employee background verification check services, airport ground handling services, sales enablement services and more through its subsidiaries.

As of June 30, 2023, UDS served 2,797 customers across various sectors, including certain global and Indian customers such as Procter & Gamble Home Products Limited (“P&G”), Aditya Birla Fashion and Retail Limited (“ABFRL”), Microsoft, Hyundai Motor India Limited (“Hyundai”), Saint-Gobain India Private Limited and more.

Updater Services Limited is a pan India player, with a widespread network consisting of 4,331 locations (excluding staffing locations) managed from 129 points of presence with 116 offices situated in India and 13 offices situated overseas, as of June 30, 2023

For year/ period ended ( in Cr.)

H1FY23 FY22 FY21
Total Revenue 2,112.09 1,497.89 1,216.35
Profit After Tax 34.61 57.37 47.56
EPS 6.77 10.47 8.53
OPM (%) 2.56% 4.74% 4.47%
PATM (%) 1.64% 3.83% 3.91%


  • Leading integrated business services platform, operating across diverse segments.
  • Longstanding relationship with customers across diverse sectors leading to recurring business.
  • Track record of successful acquisition and integration of high margin business segments.
  • Pan India presence with large and efficient workforce coupled with strong recruitment capabilities.
  • Technology at the forefront of our current and future business.
  • Highly experienced Management team with support from PE Investors
  • Repayment and /or prepayment of certain borrowings availed by the Company.
  • Funding the working capital requirements.
  • Pursuing inorganic initiatives.
  • General corporate purposes.

The company has created a niche place in the area of services it is offering under one roof. It has planned up the sleeve high margin and value-added services with the latest technology in its portfolio. Hence, investors may park moderate funds for long-term rewards.

Be a Part of IPO Success Stories!

Never Miss IPO Investment