Updater IPO listed @ Rs. 285

October 4, 2023 admin 1 Reply Post Comment

Updater Services IPO GMP, Details to watch, Guidance & Subscription status @ Chanakyanipothi.com, India`s Oldest Investment & IPO website. 
A legacy of 31 Years.
Most Trusted by Investors across India.

Who is the promoter of Updater Services IPO? 
RAGHUNANDANA TANGIRALA AND SHANTHI TANGIRALA

What is the business of Updater Services?

Updater Services is a leading, focused, and integrated business services platform in India offering integrated facilities management (“IFM”) services and business support services (“BSS”) to its clients, with a pan-India presence.
It is the second largest player in the IFM market in India and have the widest service offering in the industry, making it a unique and differentiated player in the market. Within its BSS segment, it offers Audit and Assurance services through its Subsidiary, Matrix and according to F&S Report, Matrix 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, with a market share of 16.2% in the Financial Year ended March 31, 2022. It also offers employee background verification check services through Matrix and in this segment, Matrix is the third largest company in India with a share of 5.7% in the Financial Year ended March 31, 2022. 

In addition, it provides sales enablement services through its Subsidiaries Denave and Athena and as per the F&S Report, Denave is the largest player in this segment with a market share of 15.4% in India in the Financial Year ended March 31, 2022. In addition, it offers mailroom management services through its Subsidiary, Avon which is a market leader in India with a share of 15.5% in the mailroom management services market in the Financial Year ended March 31, 2022.

The Company was founded by Raghunandana Tangirala who has over 30 years of experience in the integrated business services industry. It commenced operations in 1990 as a housekeeping and catering services company situated at Chennai, Tamil Nadu. Over the years, it has evolved into an integrated business services platform with a pan India presence serving customers across industries and business service lines. It is led by a well-qualified and experienced management team, which has robust experience in the sectors in which it operates, and which has demonstrated its
ability to manage and grow its operations across segments that it operates in.

For more information, click www.uds.inhttp://www.uds.in

What is the object of Updater Services IPO?
The Offer comprises an Offer for Sale and the Fresh Issue.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
1. Repayment and /or prepayment of certain borrowings availed by the Company;
2. Funding its working capital requirements;
3. Pursuing inorganic initiatives; and
4. General corporate purposes.

Updater Services IPO GMP, Particulars & Guidance

Updater Services IPO GMP, Details, Guidance & Subscription Status
>>Go to Mainboard IPOs Section: Click
>>Go to SME IPOs Section: Click
>>Get Good Staff or Job, Click: Staffavailable.com
>>Interested in Used Automobiles or vintage cars? Click: BigGaddi.com
>>Get solid Guidance on Mutual fund Investments, Click: ChanakyaMFGuidance.com
>>Study Stock Research Reports, Click: AnalysisLibrary.com
>>Interested in Crossword Puzzles? Click: Magajmari.com

Updater Services IPO GMP