Registered Office:
#2/302-A UDS Salai Off Old,Mahabalipuram Rd Thoraipakkam,
Chennai - 600097,
Tamil Nadu, India.
Phone : +91 44 24963234/0333
Fax : NA
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.
Opens On
Closes On
Application
Allotment
25-Sep-23
27-Sep-23
300.00-0.00
0.00-0.00
Minimum Application for shares in Nos :
50
Further Multiples of :
50
(Rs.Cr)
Lead Managers to the Issue
Project Cost
377.87
IIFL Securities Ltd