Updater Services Ltd. IPO

Updater Services Ltd is a leading Indian integrated business services platform offering a wide range of services to its customers, including soft services, production support services, engineering services, washroom and feminine hygiene care solutions, warehouse management, general staffing, institutional catering, sales enablement services, employee background verification check services, audit and assurance services, airport ground handling services, and mailroom management and niche logistics solutions. The company is a market leader in several segments and has a strong track record of growth. Updater is led by a well-qualified and experienced management team

Company Financials

You can get the following financial statements of Updater Services Ltd. as of now.

The details about the Updater Services IPO is as:

  • The issue size of the IPO is 640 Cr.
  • The price band for Updater Services IPO is Rs 280 to Rs 300.
  • The shares of Updater Services IPO will list on 4th October 2023.
  • The latest tentative GMP of Updater Services IPO is Rs _.
  • The shares of Updater Services IPO is subscribed 2.96 Times as of 27th September 2023. 

 

Updater Services IPO Valuation

The approx valuation of Updater Services IPO company based on its price band and DRHP (prospectus) is: 

Particulars Value
Upper Price Band Rs 300
Existing Shares (Qty) 5.33 Cr
Fresh Issue 400 Cr
Market Cap 1999 Cr
EPS (FY23) Rs 6.77
PE Ratio 44.31x
Industry PE 27.60x

 

Updater Services IPO Issue Size

Updater Services IPO issue size is 640 Cr. 

Issue Amount
Fresh Issue 400 Cr
Offer For Sale 240 Cr

  

Updater Services IPO Market Lot

An Individual can apply for a minimum 1 lot of 50 shares and a maximum of 13 lots of 650 shares. Find the details below:

Application Lot Shares Amount
 Minimum  1 50 15,000
 Maximum 13 650 1,95,000

 

Updater Services IPO share offer

The shares of Updater Services IPO is subscribed 2.96 Times as of 27th September 2023. The category-wise shares subscribed are as follows:

Category % Offered Subscription
Qualified Institutional Minimum 75% 4.50 Times
Non-Institutional Maximum 15% 0.89 Times
Retail Individual Maximum 10% 1.45 Times
Total   2.96 Times

 

Find below the dates for Updater Services IPO:

Schedule Date
Basis of Allotment 4 October 2023
Refunds 5 October 2023
Credit to Demat Account 6 October 2023
IPO Listing Date 9 October 2023

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Net Sales 1005.17 1070.67 1308.54 1417.12 1591.73
Total Expenditure 966.29 1037.66 1271.68 1376.33 1523.15
Operating Profit 38.87 33.01 36.87 40.78 68.58
Other Income 4.97 13.83 28.55 28.65 25.12
Interest 6.34 4.46 12.41 13.86 5.48
Depreciation 5.8 5.65 15.15 15.66 11.22
Exceptional Items 0 0 0 0 22.47
Profit Before Tax 31.71 36.73 37.85 39.92 99.46
Provision for Tax 0.87 -0.21 5.44 4.62 20.13
Net Profit 30.83 36.94 32.41 35.3 79.33
Adjusted EPS (Rs.) 0.58 0.7 0.61 0.53 1.18

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity and Liabilities
Share Capital 52.82 52.82 52.95 66.95 66.95
Total Reserves 200.13 235.57 274.59 688.72 786.4
Borrowings 0 0 17.93 0 0
Other N/C liabilities 82.1 88.62 74.49 37.31 50.43
Current liabilities 195.9 267.16 458.51 396.86 310.31
Total Liabilities 530.95 644.16 878.47 1189.83 1214.09
Assets
Net Block 8.84 22.97 36.27 37.18 53.83
Capital WIP 0 1.85 0 9.45 0.76
Intangible WIP 0 0 0 0 0
Investments 92.77 166.98 378.24 399.37 382.4
Loans & Advances 137.39 133.38 57.56 91.93 100.89
Other N/C Assets 0.41 22.25 25 23.34 32.65
Current Assets 291.55 296.74 381.39 628.57 643.55
Total Assets 530.95 644.16 878.47 1189.83 1214.09
* Other Non-current Liabilities include Net deferred Liabilities

Quarterly Result (All Figures in Cr.)

PARTICULARS Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
Other Income 5.65 5.51 6.02 4.88 8.6
Profit Before Tax 15.75 15.25 19.77 20.18 42.84
Tax 1.78 4.78 3.53 4 7.34
Profit After Tax 13.97 10.46 16.24 16.18 35.5
Adjusted EPS (Rs) 2.09 1.56 2.43 2.42 5.3

Share Holding Pattern

Promoter Pledging %

Date Promoter % Pledge %
Jun 2025 58.88 0
Mar 2025 58.88 0
Dec 2024 58.89 0
Sep 2024 58.89 0
Jun 2024 58.89 0
* Figures given above are % of equity capital

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Profit from operations 31.71 36.73 37.85 39.92 99.46
Adjustment 13.23 10.13 8.59 28.05 -17.24
Changes in Assets & Liabilities 80.83 -8.61 -26.95 -16.39 -47.81
Tax Paid -13.89 -4.36 -2.99 -18.67 -23.3
Operating Cash Flow 111.87 33.89 16.51 32.91 11.12
Investing Cash Flow -17.25 -91.52 -101.46 -298.08 66.6
Financing Cash Flow -80.47 38.63 106.85 242.97 -13.98
Net Cash Flow 14.16 -19 21.9 -22.2 63.73
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