Updater Services Ltd
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compliance.office@uds.in Website:www.uds.in
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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.
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Updater Services Ltd
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Rs Cr |
Lead Managers to the Issue |
377.87 |
Motilal Oswal Investment Advisors Ltd |
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640.00 |
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66.70 |
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Rs.
300.00
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Projects |
Repayment and/or prepayment of certain borrowings availed by the company
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Funding the company working capital requirements
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Pursuing inorganic initiatives
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General corporate purposes
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Raghunandana Tangirala |
Shanthi Tangirala |
Tangi Facility Solutions Pvt L |
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