Motilal Oswal Private Equity invests Rs 100 crore in Updater Services
Updater has operations across the country with a very strong presence in south India and caters to over 700 clients across industries such as IT/ ITeS, BFSI, e-commerce, etc.
This is the third round of private equity investment in the company, which has previously raised capital from New Vernon Private Equity and
ICICI Ventures in 2004 and 2008, respectively.
Updater has operations across the country with a very strong presence in south India and caters to over 700 clients across industries such as IT/ ITeS, BFSI, e-commerce, etc.
Through this round, Updater is looking to expand its presence geographically. "I strongly believe that as one of the premier private equity fund managers in the country, MOPE will help us deepen client relationships and offer all integrated business services to our clients. Their experience of managing companies across varied sectors will bring a lot of value to us as we endeavor to build a world class organization," said Raghunandana Tangirala, Managing Director of Updater Services.
"We are pleased to be part of what, according to us, is one of the best placed IFM (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," said Vishal Tulsyan, Managing Director and CEO of MOPE.
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