Updater Services Ltd - IPO

Updater Services Ltd IPO Details

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.

Objective of issue

Repayment and/or prepayment of certain borrowings availed by the company. Funding the company working capital requirements. Pursuing inorganic initiatives. General corporate purposes.

Updater Services Ltd Contact Details

Updater Services Ltd, C-101 247 Park, L B S Marg, Vikhroli West, Mumbai-400083

Phone - 91-22-49186000

Fax - 91-22-49186060

Email - compliance.office@uds.in

Website - www.uds.in