AGS Transact Technologies IPO | IPO is already trading shares at a premium in the gray market Know all the details
The IPO of AGS Transact Technologies will open for subscription on Wednesday, January 19. The IPO will end a month-long drought in the country’s primary markets. Shares worth Rs 680 crore will be issued under this IPO. All these shares will be issued under Offer for Sale (OFS), through which the existing shareholders including the promoter of the company, Ravi B Goyal will sell their stake.
AGS Transact Technologies IPO
AGS Transact Technologies IPO earlier than the subscription opens, it is bidding in the gray market at a top rate of Rs 21 per fragment. A huge possibility of IPOs is expected to originate on Dalal Boulevard throughout the one the year 2022:
Under the IPO, shares of AGS Transact Technologies are priced at Rs 166 to Rs 175 per share. Will be released in the band. But before opening a subscription, bids are offered at a premium of Rs 21 per share in the gray market. A large number of IPOs are expected to open on Dalal Street in 2022, including the largest ever Life Insurance Corporation (LIC) IPO in the country.
The IPO of AGS Transact Technologies will be open for subscription from Wednesday, January 19 to January 21, 2022. The company has announced to issue its shares in a fixed price band of Rs 166 to Rs 175 per share. 85 shares will be issued in one lot, so the minimum investment of an investor in an IPO will be Rs. 15,045. The company plans to raise Rs 680 crore under the IPO, but as there is a complete offer for sale (OFS), no part of this amount will go into the company’s account. The promoters of the company are going to reduce their stake through this issue. Following the issue, the promoters’ stake in the company will be reduced by about 32 percent, while the published shareholding will increase from the current 1.1 percent to 33.26 percent.
These 19,428 shares are reserved for the QIB at the highest level of the price band. Under the entire IPO, 13,600 or 35 percent shares will be issued to retail investors. Non-Institutional Investors (NII) can bid for 15 shares.
Features of AGS Transact Technology:
AGS Transact Technologies was founded in December 2002. The company is currently one of the largest payment solution providers in the country providing digital and cash-based solutions to banks and corporate customers. The company provides Payment Solutions, Banking Automation Solutions, and other automation solutions. Its customers include those in the retail, petroleum, and paint sectors. The company has also expanded its business to other Asian countries such as Sri Lanka, Singapore, Cambodia, the Philippines, and Indonesia.
Company Financial Performance:
The company had a revenue of Rs 1,805 crore for the financial year ended March 2019, which had declined to Rs 1,759 crore in the previous financial year. The company had posted a net profit of Rs. 54.79 crore in the financial year 2018-19. 66.19 crore.