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IPO

IPO Details


Updater Services Ltd
Registered Office: #2/302-A UDS Salai Off Old, Mahabalipuram Rd Thoraipakkam, Chennai - 600097, Tamil Nadu
Phone: +91 44 24963234/0333
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 Money Payable On
Opens On Closes On Application Allotment
25-Sep-2023 27-Sep-2023 ₹ 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 377.87 IIFL Securities Ltd
Project Financed through Current Offer 640.00
Post Issue Equity Share Capital 66.70
Issue Price ₹300.00
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

INDIAN INDICES

Sensex

82,755.51 700.40 (0.85%)

Nifty

25,244.75 200.40 (0.80%)

GLOBAL INDICES

USD

85.75 0.06 (0.95%)

NASDAQ
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24,474.68 297.60(1.23%)