AGS Transact Technologies IPO: First first public offer, or the 2022 IPO, is set to close on Friday, January 21. The AGS Transact Technologies IPO, which opened two days ago, was subscribed 1.42 times as of the second day of its opening, driven mostly by the category of retail buyers. 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. On Friday, the bidders will have the last chance to book the issue. To keep up with the trend, as of now, more than 30 companies are queuing up to open their IPOs.
What AGS Transact Technologies IPO GMP indicates
According to iPOWatch, unlisted shares of AGS Transact Technologies It was trading at a premium of Rs 15 in the gray market. It was around 8.5 per cent above the upper end of the price band of Rs 175 per equity share. On Thursday, AGS Transact Technologies IPO was offering a premium of Rs 10. Friday’s hike in GMP indicated that some more bidders may be interested in booking the issue. However, a weak gray market premium indicated a sluggish listing of the issue in the stock market next month.
IPO Details
AGS Transact Technologies Ltd 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 is only part of the entire issue, and thus the Company will not receive any proceeds from the IPO issue. The company has fixed the IPO price band from Rs 166 to Rs 175 per equity share. The issue is likely to be listed on BSE and NSE on February 1.
AGS Transact Technologies IPO Membership Status
According to the Bombay Stock Exchange or BSE data, till the second day of the opening of the AGS IPO, investors booked 1.42 times the shares for sale. This was primarily facilitated by retail buyers, who subscribed to the IPO earlier in the year within its opening. The retail segment was oversubscribed 2.06 times on the second day of the public issue.
AGS IPO Valuation
On FY21 financials, the IPO is valued at 6x EV/EBITDA and 1.5x EV/Sales, while the CMP trades at 14.5x EV/EBITDA and 3.3x EV/Sales as per Reliance Securities. The company is available at the upper end of the IPO price
band, at 38.5 times FY11 earnings. Issue price 3.7. K is on P/BV
Based on a NAV of Rs 47.1, with a market cap of Rs 21,069 million,
Which we think is fair enough, Anand Rathi said in a note.
Should you subscribe?
Choice Broking: With the easing of pandemic restrictions, accelerating deployment of ATMs by banks and anticipating further growth in the digital payments space, we feel that the company can benefit from its diverse product and services portfolio, diverse customer base and multiple revenue streams. Well prepared. This is how we assign a “Subscribe for Long Term” rating to the issue.
Anand Rathi: While valuing on the financial front at the upper end of the IPO price band appears fair, keeping in view all the above scenarios, we assign a “Subscription-Long Term” rating to this IPO.
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