The ₹680-crore initial public offering of AGS Transact Technologies Ltd will open for subscription today. The price band of the issue is ₹166-175. The lot size is 85 equity shares. The issue will close for subscription on January 21.
The issue is purely an offer-for-sale (OFS) of equity shares by a promoter and other selling shareholders. As a part of the OFS, promoter Ravi B. Goyal will sell shares worth up to Rs 677.58 crore
While 50 per cent of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors.
Anchor investors
The company on Tuesday raised Rs 203.99 crore from anchor investors by allotting 1.16 crore shares at ₹175 a share. Among the anchor investors included HDFC Balanced Advantage Fund, Nippon Life India Small Cap Fund, BNP Paribas Arbitrage, Ashoka India Equity Investment, Kuber India Fund, Saint Capital Fund, IIFL Special Opportunities, Abakkus Growth Fund, Quantum MF, Tara Emerging Asia Liquid Fund, Cohesion MK Best Ideas, Authum Investment and Resonance Opportunities Fund.
Objects of the issue
The objects of the offer are to carry out the offer for sale by the selling shareholders; and to realise the benefits of listing of the equity shares on the stock exchanges, enhancement of AGS’s brand name, and creation of a public market for the equity shares in India.
ICICI Securities, HDFC Bank, and JM Financial are the lead managers to the issue.
About AGS Transact
AGS Transact Technologies is one of the largest integrated omnichannel payment solutions providers in India in terms of providing digital and cash-based solutions to banks and corporate clients, as of March 31, 2021. It provides customised products and services comprising ATM and CRM outsourcing, cash management, and digital payment solutions including merchant solutions, transaction processing services and mobile wallets..
Besides Indian market, the company has also expanded internationally in other Asian countries such as Sri Lanka, Cambodia, Singapore, Indonesia, and the Philippines. The firm primarily operates in 3 business segments.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.