Today is the last chance for investors to subscribe to the Initial Public Offer (IPO) of AGS Transact Technologies. The IPO of AGS Transact Technologies was subscribed 3.9 times as on Friday, January 21 at 2:35 pm. The highest bid for the IPO has come from non-institutional investors (NIIs). NII has bid 16.85 times for its share of shares.
On the other hand, the company got 2.76 times more subscriptions from retail investors, while 2.39 times more bids were received from qualified institutional buyers (QIBs). Today is the last day to subscribe for AGS Transact Technologies IPO. The IPO was open for bidding by investors on January 19.
Gray Market Premium (GMP)
According to gray market watchers, AGS Transact Technologies shares were trading at a premium of Rs 15 or about 8.5 per cent in the unlisted market on Friday. AGS Transact Technologies has seen a sharp drop in its GMP since its IPO launch.
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The company has fixed a price band of Rs 166 to Rs 175 per share for the IPO of AGS Transact Technologies. The company plans to raise around Rs 680 crore from this IPO. Let us tell you that this is the first IPO of the year 2022.
Should you subscribe?
Emkay Research has advised to ‘subscribe’ to this IPO. “At the upper price band of Rs 175, we believe AGS offers an opportunity to invest in the cash-cum-digital game from a long-term perspective,” the brokerage said. At the upper price band of Rs 175, the stock is valued at the same level as other issues like CMS Info Systems.” Further, brokerage firms Choice Broking and Anand Rathi have advised to subscribe to the issue from a long-term perspective.
What does the company do?
AGS Transact Technologies was established in December 2022. It provides customized products and services to banks and corporates for services such as ATMs and Cash Recycler Machines (CRM), outsourcing cash management, digital payment solutions, transaction processing services and mobile wallets. The promoters of the company are Ravi B Goyal and Vineha Enterprises. The combined stake of both in the company is 97.61 percent while 1.51 percent is held by AGSTTL Employees Welfare Trust. As of 31 March 2021, it is the second largest company in the country by revenue from ATM services.
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