AGS Transact Technologies IPO to open on 19 January; all you need to know

The Initial Public Offering (IPO) of AGS Transact Technologies, an omni-channel payment solution company, will open on 19 January. The three-day issue of the AGS Transact Technologies IPO will remain open until 21 January.
AGS Transact Technologies aims to raise Rs 680 crore from the public offer, with a price band of Rs 166-175 per share. The public issue is entirely an Offer For Sale (OFS) by promoter Ravi B Goyal, meaning the payment solution company will not get any money from the proceeds of the issue. Furthermore, the issue size has been reduced to Rs 680 crore from Rs 800 crore earlier, according to Economic Times.

Investors can bid for a minimum of 85 shares, and its multiples later on. The minimum investment is Rs 14,875 for one lot. A buyer can invest a maximum of Rs 1,93,375 for 13 lots of the AGS Transact Technologies shares.
Furthermore, AGS Transact has reserved 50 percent of its issue size for the Qualified Institutional Buyers (QIBs). Of the remaining shares, 15 percent has been allotted to non-institutional investors (NIIs) while 35 percent has been reserved for retail investors.

The grey market premium of the company shares is Rs 18, as per Live Mint. HDFC Bank, ICICI Securities and JM Financial are the lead managers to the AGS Transact Technologies issue. Link Intime India has been appointed as the registrar to the company’s issue.

AGS Transact is one of the country's leading omni-channel payment solution providers and primarily operates in banking automation solutions, payment solutions and other automation solutions. The company stands in second position in terms of revenue from ATM managed services. AGS Transact is the largest deployer of POS terminals at petroleum outlets in the country.

The company also has a presence in other markets in Asia including Cambodia, Singapore, Philippines, Indonesia and Sri Lanka.

AGS Transact made a profit of Rs 54.79 crore in the Fiscal Year 2020-2021, and a profit of Rs 83.01 crore in the previous fiscal year. The company’s revenue plunged to Rs 1,797.15 crore in Financial Year 2021 from Rs 1,883.52 crore in Financial Year 2020.

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