Motilal Oswal Private Equity commits Rs 100 cr in Updater Services

Motilal Oswal Private Equity-managed India Business Excellence Fund-II and India Business Excellence Fund-IIA have committed to invest Rs 100 crore for a minority stake in Chennai-based Updater Services Pvt Ltd (UDS). 

UDS is engaged in the business of providing integrated business services to clients across the country. This is the third round of private equity investment in the company, which has previously seen investors like New Vernon Private Equity and ICICI Ventures investing in 2004 and 2008, respectively.

UDS claims to be among the top five integrated facilities management service providers in the country. It has operations across the country, with a very strong presence in south India, and caters to more than 700 clients across industries such as information technology, information technology enabled services, banking, financial services and insurance, and e-commerce. 

Raghunandana Tangirala, managing director of UDS, said that partnering with Motilal Oswal Private Equity would help the company expand its operations and further strengthen its position as a leading integrated business services provider.

He added that Motilal Oswal Private Equity would help the company to deepen client relationships and offer all integrated business services to the clients.

Vishal Tulsyan, managing director and CEO of Motilal Oswal Private Equity, added that UDS is one of the best placed integrated facilities management companies in the country.

As enterprises continue to emerge in the country, the trend of outsourcing of facilities management will increasingly become more accepted.