Payment solutions provider AGS Transact Technologies is the first company to launch this Initial Public Offering (IPO) In the new year 2022. The company’s public issue will open for subscription next week on Wednesday, January 19. The bids for anchor investors will open on January 18 and the issue will end on January 21.
The price band for the three-day initial share-sale has been set 166-175 per share. As per market observers, AGS Transact Tech shares are available at Premium (GMP) 23 in the gray market.
A public issue is purely an offer for sale (OFS) of equity shares by a promoter and other selling shareholders. The company has cut the size of its public issue 680 crores, from 800 crores as per earlier plan. As a part of OFS, promoter Ravi B Goyal will sell the shares till date 677.58 crores. Earlier, he was looking to unload the shares to the tune of 792 crores.
Half of the issue size is reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors (NIIs). ICICI Securities, HDFC Bank and JM Financial are the lead managers of the issue. The equity shares of the company will be listed on the major stock exchanges BSE and NSE.
AGS Transact Tech is an integrated omni-channel payment solutions provider in India in terms of providing digital and cash-based solutions to banks and corporates.
It provides customized products and services including ATM and Cash Recycler Machine (CRM) outsourcing, cash management and merchant solutions, transaction processing services and digital payment solutions including mobile wallets.
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