UPDATER SERVICES LIMITED

UPDATER SERVICES LIMITED - IPO DETAILS 

Company Overview 

Established in 1990, Updater Services Limited specializes in providing facility management and business support services (BSS) in the Business-to-Business (B2B) services sector. The company offers a diverse range of business services, broadly categorized into two primary segments: (1) IFM & Other Services Segment: This segment encompasses services such as Production Support, Soft Services, Engineering Services, Washroom and Feminine Hygiene, Warehouse Management, General Staffing, and more. (2) BSS Segment: Under this segment, the company provides Audit and Assurance services through its subsidiary, Matrix, as well as employee background verification checks, airport ground handling, sales enablement services, and more through its subsidiary companies. 

As of June 30, 2023, Updater Services Limited has served a customer base of 2,797 clients spanning various sectors. This includes both 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 others. 

Updater Services Limited has a nationwide presence, operating across India with an extensive network of 4,331 locations (excluding staffing locations) managed from 129 points of presence. This network comprises 116 offices within India and 13 offices located overseas, as of June 30, 2023. 

Objective of the IPO 

Here are a few quick reasons why Updater Services Limited going public:  

1. Repayment and/or prepayment of specific borrowings previously obtained by the Company. 

2. Meeting the working capital requirements of the Company. 

3. Pursuing potential inorganic initiatives or growth opportunities. 

4. Allocating funds for overarching corporate needs and objectives. 

Company Financials 

Key Performance Indicator 

Pros 

1. The company's wide-ranging customer base has effectively mitigated its susceptibility to economic fluctuations and lessened its reliance on any specific group of customers. 

2. The company's comprehensive range of business services has empowered it to cater to a varied array of customer requirements and extend its geographic footprint in significant markets across India. 

3. The Company, in conjunction with its Subsidiaries, has embraced and cultivated suitable technology solutions. These not only enhance its operational efficiency and effectiveness but also contribute to heightened customer satisfaction and bolstering its competitive position in the market. 

4. The company has a proven history of achieving successful inorganic growth through strategic acquisitions. These acquisitions serve to complement its existing business segments, diversify its sources of revenue, and enable the seamless integration of acquired businesses, thereby reinforcing its services portfolio. 

Cons 

1. The company's operations rely on its capacity to effectively collect payments from its customers for the services rendered in a punctual manner. Any failure to recover outstanding receivables can potentially have detrimental effects on its cash flow, profitability, and overall liquidity position. 

2. The company operates within an industry characterized by intense competition and fragmentation, where entry barriers are low. Heightened competition within this space can lead to pricing pressures, the need for enhanced product or service offerings, and increased expenditures related to attracting and retaining talent.  

3. The company faces exposure to service-related claims, potential losses, and disruptions involving employees. Such incidents have the potential to negatively impact its reputation, business operations, and cash flow. 

How to Apply for this IPO 

1. Go to https://ipo.adityatrading.in/ 

2. Enter your Client ID 

3. Enter the OTP received in your registered mobile number. 

4. Choose the IPO and click on apply button. 

5. Enter the UPI ID, Quantity, and Cut off the price. 

6. Click on submit button 

7. Confirm the mandate request received on your phone by entering the UPI Pin. 

You can also watch our youtube video on “How to Apply on IPO” by clicking on the link “https://www.youtube.com/watch?v=1qOI8dCpl1I&ab_channel=ATS”