26 Jan , 2022 By : Kanchan Joshi
The three -day initial public offering (IPO) of AGS Transact Technologies was subscribed more than eight times on Friday, the final day of the bidding process, on robust support from investors. The issue, with a price band of Rs166-175 apiece, opened for public subscription last week on January 19 and closed on January 21.
The payment solutions provider IPO, which has been the first in the new year 2022, was purely an offer-for-sale (OFS) of equity shares worth Rs680 crore by a promoter and other selling shareholders.
The finalization of basis of share allotment of AGS Transact is expected to take place tomorrow, January 27, 2022 and if allotted, then the credit of shares to demat account of bidders will be done on January 31. The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on its website here or on the BSE website here.
As per market observers, AGS Transact Tech shares are seeing no activity in the grey market today as compared to commanding a premium (GMP) of Rs15 in previous sessions. The company's shares are expected to list on stock exchanges BSE and NSE on February 1, 2022.
AGS Transact Tech is an integrated omni-channel payment solutions provider in India in terms of providing digital and cash-based solutions to banks and corporates. It provides customised products and services comprising ATM and Cash Recycler Machines (CRM) outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets.
For the financial year 2021, the company's total income was Rs1,797 crore, and the profit before tax was Rs82 crore. The EBITDA was at Rs476 crore and the margin stood at 26.5%. ICICI Securities, HDFC Bank and JM Financial were the lead managers to the issue.
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