Home/IPOs/UDS
Start Date25-09-2023
Application Timing10am-5pm
Price Range₹280 - ₹300
Min Qty50
Min. Investment₹14000
Listing DateNA
Close Date27-09-2023
About Updater Services Limited
Founded in 1990 by Raghunandana Tangirala who has over 30 years of experience in the integrated business services industry, IFM is a leading, focused, and integrated business services platform in India offering integrated facilities management (IFM) services and business support services (BSS) to our customers, with a pan-India presence. They are the second largest player in the IFM market in India and have the widest service offering in the industry.
They offer
- Audit and Assurance services through Subsidiary, Matrix and according to F&S Report, Matrix is a leading Audit and Assurance company for dealer/distributor audits, and retail audits and its strong branch reach and field associate reach has driven the company to reach the top spot in India, with a market share of 19.2% in the FY ended March, 2023.
- They also offer employee background verification check services through Matrix and in this segment, Matrix is the third largest company in India with a share of 5.4% in the FY ended March 31, 2023. In addition, they provide sales enablement services through Subsidiaries Denave and Athena
Why To Invest in Updater Services Limited
Updater Services Limited offers facility management services and business support services (BSS). The IPO proceeds will be used to fund the working capital requirements and repay loans.
Strengths And Risks
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Leading Integrated Service Platform: : Company is the second largest player in the highly fragmented soft services segment market in India with a share of 4.1% in FY ‘23, and is also one of the leading companies providing services to the healthcare segment.
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Long Standing Customer Relationships: : They offer services to industries including such as healthcare, manufacturing, automobile, BFSI and consumer products with some of the marquee customers being TTK Healthcare Limited within healthcare, Saint-Gobain within manufacturing, Hyundai, Honda Motorcycle and Eicher Motors Limited within automobile, Shriram Transport, SBI Life Insurance and IIFL Finance within BFSI, and Sony within consumer products, among others.
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Inorganic Growth:: They have established a track record of successful inorganic growth through strategic acquisitions to supplement our business segments, diversify revenue streams, and integrate such acquired businesses to further strengthen services portfolio.
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Pan India Presence: : They have a widespread network consisting of 4,667 locations managed from 125 points of presence with 112 offices situated in India and 13 offices situated overseas. These offices are spread across 25 states in India, giving us a nation-wide presence as well as 13 locations overseas
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Experienced Promoter: : Our Company was founded by our Promoter, also Chairman and Managing Director, Raghunandana Tangirala, who has over 30 years of experience in the integrated business services industry and has driven our growth over the years.
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Seasonality: : Certain of their services are subject to seasonal variations. For instance, institutional catering services through Subsidiary Fusion Foods to educational institutions are impacted during vacations.
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Customer Concentration:: Company has over the years established long-term relationships with customers leading to recurrent business engagements with them. However, significant dependence on certain customers may increase the potential volatility of our results of operations.
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Payment Risk: : Their customers may delay or default in making payments for services rendered. If they are unable to collect receivables from customers, their profits, cash flows and liquidity could be adversely affected.
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Competition: : The industries in which they operate are intensely competitive and have low barriers to entry in certain instances. Their inability to compete effectively may adversely affect business, cash flows and financial condition.
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