<article>Facilities management services company <a style="color: #000080;" href="http://dealstreetasia.com/tag/UDS" target="_blank">Updater Services (UDS)</a> has raised Rs 100 crore ($15 million) from <a style="color: #000080;" href="http://dealstreetasia.com/tag/mope" target="_blank">MOPE Investment Advisors (MOPE)</a>.</article>

Facilities management services company <a style="color: #000080;" href="http://dealstreetasia.com/tag/UDS" target="_blank">Updater Services (UDS)</a> has raised Rs 100 crore ($15 million) from <a style="color: #000080;" href="http://dealstreetasia.com/tag/mope" target="_blank">MOPE Investment Advisors (MOPE)</a>.
The private equity firm MOPE, which is part of Motilal Oswal group, has picked up a minority stake in the Chennai-based firm in lieu of its investment, according to a statement. The exact quantum of the stake was not mentioned.
MOPE manages two growth capital funds, India Business Excellence Fund (IBEF) and IBEF II. Investment into UDS marks the 11th from IBEF II, a Rs 950 crore ($160 million) fund which has invested in  companies across consumer and life science businesses.
&#8220;MOPE will help us deepen client relationships and offer all in tegrated business services to our clients. Their experience of managing companies across varied sectors will bring a lot of value to us as we endeavour to build a world class organisation,“  Raghunandana T, Managing Director, UDS said.
This latest round of funding marks the third round of private equity investment for UDS after New Vernon and ICICI Ventures invested in 2004 and 2008 respectively.
Founded in 1985 UDS is an integrated business services company with offerings in facilities management, people and staffing, production support services, industrial asset management. The company claims to cater to over 700 clients across industries such as IT/ ITeS, BFSI, e-commerce etc.
“As India grows from a $2 trillion to a $5 trillion economy and as we get more structured, opportunities to scale up in this space will grow. There is huge demand for commercial office space and large residential complexes.Traditionally , managed by mom and pop establishments, companies like UDS stand to benefit with systems and processes in place and being compliant from a governance stand point. The company has been built by first generation entreprene urs and has a reputation for excellence,“ said Vishal Tulsyan, MD and CEO, MOPE.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/motilal-oswal-pe-invests-15m-in-kolkata-based-branded-food-staple-co-ganesh-grains-56404/" target="_blank">India: Motilal Oswal PE invests $15m in Kolkata-based Ganesh Grains</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/motilal-oswal-pe-invests-rs110-crore-in-dairy-classic-ice-creams-56236/" target="_blank">India: Motilal Oswal PE invests $16m in Dairy Classic Ice Creams</a>

Facilities management services company Updater Services (UDS) has raised Rs 100 crore ($15 million) from MOPE Investment Advisors (MOPE) 

India: Updater Services raises $15m from MOPE Investment Advisors

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

India: Updater Services raises $15m from MOPE Investment Advisors

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief