Updater Services Limited
Bandhan Mutual Fund reduced its stake in Updater Services Limited from 9.76% to 6.19% by selling 23,95,305 shares. This stake reduction occurred in the context of a rights issue. Bandhan Mutual Fund was previously a substantial institutional shareholder in Updater Services Limited.
A diversified commercial services company, Updater Services provides integrated facilities management solutions and related services across multiple sectors in India. The company serves diverse customer segments including FMCG, manufacturing, engineering, BFSI, healthcare, IT, automobiles, logistics, warehousing, airports, ports, infrastructure, and retail industries. Its comprehensive service portfolio addresses the operational and facilities needs of large enterprises and organizations.
Formerly IDFC Mutual Fund, rebranded after Bandhan Financial Holdings acquired IDFC's AMC in 2023. Manages over Rs 1.5 lakh crore. Known for strong debt and liquid funds, plus well-regarded equity offerings including the IDFC-lineage Sterling Value Fund and Focused Equity Fund. One of the cleaner transitions in Indian AMC ownership history.