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- A leading, focused, and integrated business services platform in India offering integrated facilities management services (IFM) and business support services (BSS) to their customers, with a pan-India presence
- Founder has 30+ years of experience in the integrated business services industry. The Company is backed by one of India’s leading PE funds, Motilal Oswal Private Equity
- SBICAPS-Investec secured 31% procurement in the Anchor Book. Our Investors were key in setting the valuation benchmark for the transactions
- SBICAPS-Investec generated early commitment from Long-Only Investors, driving transaction momentum
- SBICAPS positioned Updater Services as a compelling high-growth story amidst a challenging niche sector
- SBICAPS leveraged its deep domain expertise in facility management sector, ensuring successful execution of the deal
- SBICAPS was instrumental in setting up meetings with some crucial investors and guiding management throughout the IPO Process
Issuer Details
| Issue Size | INR 640 Cr | |
| Fresh Issue | INR 400 Cr | |
| Offer for Sale | INR 240 Cr | |
| Issue Prize | INR 300 per share | |
| Issue Period | Sep 25 - 27, 2023 | |
| Listing Date | Oct 04, 2023 |
Subscription Details
| Overall | 2.90x | |
| QIB | 4.48x | |
| NII | 0.85x | |
| Retail | 1.38x |
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BSS: Mailroom Management & Niche Logistics (Avon Logistics Solutions)
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BSS: Sales Enablement (Denave and Athena)
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BSS: Audit and Assurance (Matrix Business Services)
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IFM: Soft services and hard services
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BSS: Employee Background Verification (Matrix Business Services)
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BSS: Airport Ground Handling (Global Flight Handling Services)