25 Jan , 2022 By : Kanchan Joshi
The Rs680-crore initial public offering (IPO) of payment solutions provider 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 on January 19 and concluded on January 21.
The portion reserved for retail investors was subscribed 3.25 times, qualified institutional buyers category 2.82 times, and non-institutional category received 27 times subscription, according to the data shared by the company.
The IPO, which has been the first in the new year 2022, is purely an offer-for-sale (OFS) of equity shares worth Rs680 crore by a promoter and other selling shareholders.
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 yesterday. The company's shares are expected to list on stock exchanges BSE and NSE on February 1, 2022.
The finalization of basis of share allotment of AGS Transact is expected to take place this week on Thursday, January 27, 2022and 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.
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.
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