AGS Transact Technologies IPO: The initial share sale of the first IPO of the year ended a day earlier and there was a strong response from the bidders at the time of closing. AGS Transact Technologies IPO According to the data available on the website of Bombay Stock Exchange, or BSE, it was subscribed 8.22 times on the third day of bidding, after which the offer was closed. The public offering came after a one-month hiatus in the primary market, after a year filled with blockbuster issues on Dalal Street with several companies setting records through them. This was the first initial public offering of this year.
public offer of AGS Transact Technologies Limited Open on 19 January and close on 22 January. During these three days of bidding, investors booked around 25.57 crore shares of the company against the issue size of 2.86 crore (2,86,74,696) shares, as per BSE data.
strong response to AGS Transact Technologies IPO Mostly backed by non-institutional investors, who held 27 times the share reserved for them. On the other hand, retail buyers bid for 3.25 times the shares earmarked for them, while qualified institutional buyers bid for 2.82 times their reserve share.
The allotment process will be done on the basis of January 27, while the selected bidders will get credit in the demat accounts on January 31. Those who are not eligible to bid will get refund on January 28. The issue may be further listed on BSE. NSE on February 1, which is almost two weeks later.
The company plans to raise Rs 680 crore through the issue, of which Rs 204 crore has already been raised through anchor investment. The offer for sale or OFS was only part of the entire issue, and thus the company would not receive any proceeds from the IPO issue.
The price band of this offer was Rs 166 to Rs 175 per equity share.
According to ipowatch.com, the unlisted shares of AGS Transact Technologies were retailing at a premium of Rs 15 to the upper limit of their price band at Rs 190 on Friday, January 21. Data for Saturday was not available at the time of writing this article.
AGS and the promoter selling shareholder entered into an agreement according to which the selling shareholder from the OFS net proceeds would buy compulsorily convertible preference shares (of the promoter corporate) held by AGS. This, in turn, will be used to encash the outstanding NCDs issued. Indirectly, the company will receive money, which will be used to reduce the debt burden.
AGS Transact Technologies Limited is an integrated omni-channel payment solutions provider operating in India. The company operates in three business segments, i.e. Payment Solutions, Banking Automation Solutions and Other Automation Solutions. According to RHP, AGS is the only cash management company that has followed the guidelines of the Ministry of Home Affairs on a pan-India basis.
read all breaking news, today’s fresh news And coronavirus news Here.
,