Valiant Laboratories Limited

About Updater Services Limited IPO

Incorporated in 2003, Updater Services offers integrated facilities management (IFM) and business support services (BSS). It is the second largest player in the IFM market in India, with a market share of 19% in FY23. Its subsidiaries like Matrix, Denave and Avon are also market leaders with a share of 5%, 20% and 11% respectively. 

The company operates in the business-to-business (B2B) space. It provides services like production support, engineering, washroom and feminine hygiene, housekeeping, pest control. As part of business support, the company offers sales enablement services, employee background verification, audit and assurance, airport ground handling and more. 

As of 30 June 2023, the company offered services to more than 11 sectors and served 2,797 clients. Some of its marquee global and Indian customers include P&G, Aditya Birla Fashion and Retail, Microsoft, Hyundai Motor India, Saint-Gobain India, Tata Consultancy Services, LTIMindtree, Honda Motorcycle and Scooter India, IIFL, SBI and more.  

The company has a widespread network of 4,331 locations managed from 129 points of presence with 116 offices in India and 13 overseas. It has also acquired various businesses such as Avon, Global Flight Handling, Matrix, Washroom Hygiene Concept, Denave and Athena. 

The company has seen a CAGR rise of 20% in its revenue from contracts with customers. Between FY18 and FY23, India’s IFM market grew at a CAGR of 9% and is expected to witness growth momentum in the next five years, which could benefit the company. 

And now, Updater Services Limited is coming out with its initial public offer (IPO). The IPO will be an offer for sale as well as a fresh issue. The money raised through the fresh issue will be utilised to repay borrowings, fund capital expenditure, pursue inorganic initiatives and for general corporate purposes. Its shares will be listed on the NSE and the BSE.

Here are key details about the Updater Services IPO:

Financial snapshot

A quick look at Updater Services Limited IPO’s strengths, risks and threats

Strengths 

1. Strong financial performance with a CAGR rise of 23% in its revenue from operations and 26% in its profit between FY17 and FY23. 
2. Reducing dependence on the import of raw materials from 74% to 11.8% in FY23. 
3. Company  intends to implement backward integration by manufacturing raw materials in-house. 
4. Strategically located manufacturing facility which is close to its office as well as the port and helps with the import and export of raw materials and products.

Risks and threats

1. Single product manufacturing company which operates a single manufacturing facility.  
2. Operates in a competitive industry with large multinational pharmaceutical companies as well as smaller regionally based competitors.
3. Exposed to counterparty credit risk with trade receivables amassing to ₹42 crore, ₹110 crore and ₹88 crore in FY21, FY22 and FY23, respectively. 
4. Subject to strict quality requirements and regular inspections. 

Valiant Laboratories Limited IPO details

| Valiant Laboratories Limited IPO date

According to the offer document filed by the company with the SEBI, the Valiant Laboratories IPO’s opening date – in other words, the Valiant Laboratories IPO launch date – will be 27th September 2023. The Valiant Laboratories IPO closing date is 3rd October 2023. After this, investors will be updated about the allotment status on 5th October 2023.

Investors, who have been allotted shares, can expect them to be credited to their demat account on 6th October 2023. The Valiant Laboratories IPO listing date is 9th October 2023. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE. 

| Valiant Laboratories Limited IPO price band

The IPO is a fresh issue. The Valiant Laboratories IPO price band has been set between ₹133 and ₹140 per share. Interested investors can choose a price within this band to apply for the IPO. 

The Valiant Laboratories IPO listing price will be determined on 9th October 2023. The listing price is the price at which a company’s shares debut on the stock exchanges.

| Valiant Laboratories Limited IPO lot size 

The Valiant Laboratories IPO details have been declared. The Valiant Laboratories IPO lot size is set at 105 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the Valiant Laboratories IPO issue size is approx ₹152 crore. 

How to apply for the Valiant Laboratories  Limited IPO?

If you are interested in this investment opportunity but unsure how to apply for the Valiant Laboratories  Limited IPO, here we are listing out the steps for you. 

When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Valiant Laboratories  Limited IPO on Upstox: 

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover tab, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, look for the ‘ Valiant Laboratories Limited IPO’ tab and click on it
5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
6. Confirm and click on ‘Apply’
7. Accept the mandate on your UPI app

How to check the the Valiant Laboratories Limited IPO allotment status?

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes. 

Here’s a step-by-step guide on how to check the Valiant Laboratories Limited IPO allotment status:

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover page, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, you will find the ‘View all’ option
5. Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
6. In the ‘IPO’ tab, click on ‘My applications’ 
7. In ‘My applications’, under the History section, your the Valiant Laboratories Limited IPO allotment status will be mentioned

Open a demat account with Upstox to apply for the Valiant Laboratories Limited IPO

To apply for the Updater Services Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.

Here is a step-by-step guide on how to open a demat account with Upstox:

1. Click here to visit the demat account opening page on the Upstox website. 
2. Enter your phone number and other essential details to begin opening a demat account.
3. Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed. 
4. Complete the e-verification using the OTP sent to your registered mobile number. 

This is all it takes to open a demat account with Upstox. Easy and quick, right? 

Upstox – trading app to apply for the Valiant Laboratories Limited IPO

Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India. 

You can apply for the Valiant Laboratories Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero. 

In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.