AGS Transact Technologies IPO: According to BSE data, this IPO received bids for 2,51,98,420 shares, while there are 2,86,74,696 shares on offer.
AGS Transact Technologies IPO: The IPO of AGS Transact Technologies, a payment related services provider, is getting good response from investors. This IPO has got 88 percent subscription on the first day of the issue i.e. Wednesday. According to BSE data, this IPO received bids for 2,51,98,420 shares on the first day, while there are 2,86,74,696 shares on offer.
The Retail Individual Investors (RII) category has received 1.32 times the subscription, while the non-institutional investors 1.02 times. This is the first IPO of the year 2022. AGS Transact Technologies on Tuesday raised Rs 204 crore from anchor investors. This IPO is purely on offer for sale (OFS). Investors can invest in this IPO of Rs 680 crore till January 21. A price band of Rs 166-175 has been fixed for this issue. ICICI Securities, HDFC Bank and JM Financial are the managers of the offer.
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It is the second largest company in the country in terms of revenue from ATM related services and the largest company to install POS terminals at petrol pumps. Market experts have a positive attitude about investing money in this and have given a subscribe rating to this issue.
AGS Transact Tech IPO Key details
- The lot size has been fixed for 85 shares i.e. investors will have to invest at least Rs 14875 according to the upper price of the price band, The face value per share is Rs 10.
- 50 per cent of the issue has been reserved for Qualified Institutional Investors (QIBs), 35 per cent for retail investors and 15 per cent for non-institutional investors.
- The allotment of shares may be final on January 27 and its listing may happen on February 1.
- ICICI Securities, HDFC Bank and JM Financial are the lead managers of the issue. The equity shares of the company will be listed on BSE and NSE.
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Company related details
- AGS is the country’s leading provider of integrated omni-channel payment solutions across transactions.
- In terms of revenue from ATM services, it is the second largest company in the country and the largest company to install POS terminals at petrol pumps.
- Its business is spread not only in India but also in Asian countries like Sri Lanka, Cambodia, Indonesia and Philippines.
- The company mainly deals in three business segments – Payment Solutions, Banking Automation Solutions and Other Automation Solutions.
- As of 31 August 2021, the company has installed 2,21,066 merchant POS, 17,924 petroleum outlets, 72 thousand ATMs and CRMs, 461800 cash billing terminals, 88,521 color dispensing machines. Its business is through 4.46 lakh machines or customer touch points in 2200 cities and towns.
- Talking about the financial condition of the company, the net profit (Profit after Tax) of the company has decreased. In the financial year 2020, the company’s net profit was Rs 83.01 crore, while in the next financial year 2021, its net profit came down to Rs 54.79 crore.
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