AGS Transact Technologies IPO: The initial public offering (IPO) of payment solutions provider AGS Transact Technologies seems to be receiving good response from investors. Today is the second day of bidding for the IPO and so far it has been subscribed 1.23 times. The company has offered around 2.86 crore shares under the IPO, in return for which it has so far received bids for 3.53 crore shares. AGS Transact Technologies plans to raise around Rs 680 crore from this IPO.
As on Thursday, January 20 at 1.17 pm, the share of retail investors was subscribed 1.74 times, while the share of non-institutional investors (NIIs) had received bids 1.07 times. While the share of qualified institutional investors (QIBs) has so far been filled at 0.47 per cent.
Today is the second day of bidding for the IPO of AGS Transact Technologies IPO. The IPO was open on Wednesday 19 January and bidding can be done till Friday 21 January. The company has fixed a price band of Rs 166 to Rs 175 per share for the IPO. Let us tell you that this is the first IPO of the year 2022.
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AGS Transact had raised Rs 204 crore from anchor investors on Tuesday, ahead of the opening of the IPO. This IPO of the company is purely in the form of offer-for-sale (OFS). Under this, the promoters and other shareholders of the company have offered to sell shares worth Rs 680 crore. This means that the proceeds from this IPO will not go to the company’s account, but it will go to the promoters and shareholders.
What is expert opinion
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 issue as other issues like CMS Info Systems.”
AGS Transact Technologies IPO GMP Today
According to market experts, the gray market premium (GMP) of AGS Transact Technologies declined further on Thursday and is now trading at a premium of Rs 8 in the unlisted market. The shares of the company can be listed on the stock exchanges on February 1, 2022.
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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