AGS Transact Tech IPO: The price band of the IPO of AGS Transact Technologies, a company providing payment related services, has been fixed today (January 14).
AGS Transact Tech IPO: The price band for the IPO of AGS Transact Technologies, a payment related services provider, has been fixed today (January 14). The company has fixed a price band of Rs 166-175 per share for this issue, which will open from January 19-21 next week. Earlier this IPO was worth Rs 800 crore, which has now become Rs 680 crore.
AGS Transact Technologies may have tried to bring an IPO in the past as well. In the year 2018, the company got approval from SEBI to raise Rs 1 thousand crore through IPO but the company did not bring the IPO. Earlier, the company had filed draft papers in 2015 to raise Rs 1350 crore and submitted papers with SEBI in 2010 as well.
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AGS Transact Tech IPO Details
- The Rs 680 crore IPO of AGS Transactions will open next week on January 19 and investors will be able to invest in it till January 21.
- For this issue, the company has fixed a price band of Rs 166-175 per share.
- 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.
- Under this issue, no new shares will be issued, but the existing promoters and other shareholders of the company will sell some of their stake under Offer for Sale (OFS). Under the OFS, the promoter of the company, Ravi B Goyal, will sell shares worth Rs 677.58 crore. Earlier, he wanted to sell shares worth Rs 792 crore.
- 50 per cent of the issue has been reserved for Qualified Institutional Investors (QIBs), 35 per cent for retail investors and 115 per cent for non-institutional investors.
- The allotment of shares can be final on January 27 and for its listing 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 position 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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