JKB Financial Services Ltd.

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Updater Services Ltd
Registered Office: #2/302-A UDS Salai Off Old, Mahabalipuram Rd Thoraipakkam, Chennai - 600097, Tamil Nadu
Phone: +91 44 24963234/0333
Email: compliance.office@uds.in
Website: www.uds.in
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.

Issue		Money Payable On
Opens On	Closes On	Application	Allotment
25-Sep-2023	27-Sep-2023	₹ 300.00	₹ 0.00

Minimum Application for shares in Nos : 50 Further Multiples of : 50
	(₹)Cr.	Lead Managers to the Issue
Project Cost	377.87	IIFL Securities Ltd
Project Financed through Current Offer	640.00
Post Issue Equity Share Capital	66.70
Issue Price	₹300.00

Projects
Repayment and/or prepayment of certain borrowings availed by the company
Funding the company working capital requirements
Pursuing inorganic initiatives
General corporate purposes

Promoted By
Raghunandana Tangirala
Shanthi Tangirala
Tangi Facility Solutions Pvt L

Listing At
BSE
NSE

Registrar to the Issue
Link Intime India Pvt Ltd

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