Updater Services sets Rs280-300 price band for Rs640-cr IPO

Mumbai: Chennai-based integrated facilities management firm Updater Services on Thursday announced the price band for its Rs640-crore public offering, at Rs280-300 per share, for the issue opening on September 25.

The company which started way back in 1987 in Chennai, claims to be the market leader with a revenue of Rs2,100 crore in FY23, from which it had earned Rs145 crore net profit, up from Rs1,483 crore and Rs108 crore, respectively, in the previous fiscal ending March 2022.