Updater Services (UDS) has increased the investment in Denave India, Material subsidiary company from 67.27% to 89.57% by acquiring 37,48,614 equity shares from its promoters and other shareholders. The Subsidiary of UDS, Matrix Business Services India holds 10.43% in Denave. Further to the acquisition, the post shareholding percentage in Denave of UDS along with its subsidiary, Matrix Business Services India, is 100%. Cost of acquisition is Rs 52.57 crore.
Updater Services is a leading, focused and integrated business services platform in India offering integrated facilities management (IFM) services and business support services (BSS) to its customers, with a Pan-India presence.
