three days Initial Public Offering (IPO) AGS Transact Technologies was subscribed more than eight times by the end of its last day of bidding. Issue with price band of 166-175 each, open for public subscription on 19 January and ends on 21 January.
The share allotment has been finalized and all eyes are now on the listing of the shares of the company, which is expected to make its debut on the stock exchanges BSE and NSE next week on February 1, 2022. As per market observers, AGS Transact Tech shares are available. at a premium (GMP) of 6 in the gray market today.
Payment Solution Provider IPO was purely offer-for-sale (OFS) of equity shares of value 680 crores by one promoter and other selling shareholders. The share reserved for retail investors was subscribed 3.25 times, qualified institutional buyers category 2.82 times and non-institutional category 27 times.
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.
The total income of the company for the financial year 2021 was 1,797 crores, and the profit before tax was 82 crores. was on EBITDA 476 crores and margin stood at 26.5%. ICICI Securities, HDFC Bank and JM Financial were the lead managers of the issue.
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