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The Securities and Exchange Board of India (SEBI) today approved the initial public offering (IPO) of the Chennai-based Updater Services Ltd (UDS). The company intends to generate capital through its IPO, which consists of a fresh issuance of equity shares, amounting to ₹400 crore, and an Offer For Sale (OFS) involving up to 1.088 crore equity shares.
All about UDS
UDS’s specialised business services platform operates across India, delivering integrated facilities management services and a range of other services. Over the years, they have expanded their service portfolio to meet the diverse needs of customers across various sectors, including FMCG, manufacturing, engineering, BFSI, healthcare, IT/ITeS, automobiles, logistics and warehousing, airports, ports, infrastructure, and retail, among others.
IIFL Securities Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited are acting as the Book Running Lead Managers (BRLMs) for the IPO, while Link Intime Private Ltd is the registrar of the offer.
UDS is a prominent and dedicated business services platform in India, specializing in providing integrated facilities management (IFM) services and business support services (BSS) to its clients. They have a comprehensive presence across India, serving clients nationwide.
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