Initial Public Offering (IPO) Payment solutions provider AGS Transact Technologies is so far fully subscribed at 1.31x on the second day of release. The price range has been set for the three-day share sale that opens on January 19 166-175 per share.
As of 3:14 pm on the second day on Thursday, the AGS Transact Tech IPO has been oversubscribed by retail investors and non-institutional investors (NIIs) at 1.87x and 1.11 times, respectively, while QIBs have bid 0.47x, according to BSE data. It shows.
The IPO, which is the first in the new year 2022, is an offer-for-sale (OFS) of purely value equity shares. 680 crores by one promoter and other selling shareholders.
According to market observers, AGS Transact Tech Share Premium (GMP) has slipped Today in Gray Market 8. The shares of the company are expected to be listed on the stock exchanges BSE and NSE on February 1, 2022.
Giving subscribe rating to the IPO, brokerage house Emkay said, “We believe AGS offers an opportunity to invest in a cash-cum-digital play from a long-term perspective. At the higher price band of Rs 175, the stock’s share price is Rs. The value is at par with its peers like CMS Info Systems.”
However, the brokerage sees loss of ATM business with large banks, Covid-led business disruption and delays in scaling up of digital payments business as major risks.
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.
As of March 31, 2021, AGS was the second largest company in India in terms of revenue from ATM managed services under the outsourcing model, and offset revenue from cash management and number of ATMs, highlighted Axis Securities in a note. .
The total income of the company for the financial year 2021 was 1,797 crore, and profit before tax was 82 crores. was on EBITDA 476 crores and margin stood at 26.5%.
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,