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Updater Services Ltd

Updater Services Ltd

    Registered Office : #2/302-A UDS Salai Off Old,Mahabalipuram Rd Thoraipakkam,Chennai Tamil Nadu 600097 Phone : +91 44 24963234/0333
    Fax :

    Email : compliance.office@uds.in

    Website : www.uds.in

Initial public offering of 21,333,333^ equity shares of face value of Rs. 10 each ("Equity Shares") of Updater Services Limited ("The Company" or the "Issuer") for cash at a price of Rs. 300 per equity share (including a share premium of Rs. 290 per equity share) ("Offer Price") aggregating Rs. 640.00^ crores (the "Offer"). The offer comprises of a fresh issue of 13,333,333^ equity shares aggregating Rs. 400.00^ crores ("Fresh Issue") and an offer for sale of 8,000,000^ equity shares ("Offered Shares") aggregating Rs. 240.00^ crores ("Offer for Sale"), comprising 4,000,000^ equity shares aggregating Rs. 120.00^ crores by Tangi Facility Solutions Private Limited (the "Promoter Selling Shareholder"), 800,000^ equity shares aggregating Rs. 24.00^ crores by India Business Excellence Fund - ii and 3,200,000^ equity shares aggregating Rs. 96.00^ crores by India Business Excellence Fund - iia (together, the "Investor Selling Shareholders", and along with the promoter selling shareholder, the "Selling Shareholders"). The offer will constitute 31.98% of the post-offer paid-up equity share capital. The face value of the equity share is Rs. 10 each and the offer price is 30 times the face value of the equity shares. ^Subject to finalisation of basis of allotment.

Issue

Opens On

Closes On

25-Sep-2023

27-Sep-2023

Money Payable On

Application

Allotment

300.00

0.00

Minimum Application for shares in Nos : 50.0 Further Multiples of : 50.0

₹Cr

Lead Managers to the Issue

Project Cost (₹.Cr)

Project Financed through Current Offer (₹.Cr)

Post Issue Equity Share Capital (₹.Cr)

Issue Price (₹.Cr)

377.87

640.00

66.70

300.00

IIFL Securities Ltd

Motilal Oswal Investment Advisors Ltd

SBI Capital Markets Ltd

Projects
  • Repayment and/or prepayment of certain borrowings availed by the company
  • Funding the company working capital requirements
  • Pursuing inorganic initiatives
  • General corporate purposes
Promoted By
  • Raghunandana Tangirala
  • Shanthi Tangirala
  • Tangi Facility Solutions Pvt L
Listing At
  • BSE
  • NSE
Registrar to the Issue
  • MUFG Intime India Pvt Ltd