AGS Transact Technologies IPO: After a long hiatus from last month, AGS Transact Technologies Ltd. is all set to become the first company to bring its initial public offering or IPO this year. The AGS Transact Technologies IPO is set to open on Wednesday, January 19 for a period of three days. It followed a one-month hiatus in the primary market, followed by a year filled with blockbuster issues on Dalal Street. This year is going to be even better, with over 30 companies already waiting in line to release their initial public offerings, while there will be more such issues during the year.
Important things you should know about AGS Transact Technologies IPO,
, IPO Dates: The AGS Transact Technologies IPO will open on Wednesday, January 19, and will be available for bidding through Friday, January 21.
, AGS Transact Technologies IPO Price Band: The company has fixed the IPO price band from Rs 166 to Rs 175 per equity share.
, offer detailsAGS Transact Technologies Limited plans to raise Rs 680 crore through issue. 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.
Promoter Ravi B. Goyal will sell his shares worth Rs 677.58 crore through the issue. Other sold shareholders include VC Gupte, Shailesh Shetty, Rakesh Kumar, Nikhil Patiyat and Rajesh Harshdarai Shah who will sell their stake for Rs 2.42 crore.
, AGS IPO Reserved Part: 50 per cent of the sale is reserved for the qualified institutional buyers category, while 35 per cent of the IPO shares are earmarked for retail buyers. Non-institutional buyers can bid for 15 per cent of the shares.
, IPO Lot Size: Investors who wish to buy shares of AGS Transact Technologies can bid for a minimum of 85 equity shares and thereafter in multiples of 85 shares. This means investors can invest a minimum amount of Rs 14,875 per lot. On the other hand, the maximum investment for 13 lots will be Rs 1,93,375 as the maximum limit is Rs 2 lakh.
, Objectives of the issue: 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.
, Company Profile: 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.
, AGS IPO GMP Today: Unlisted shares of AGS Transact Technologies were retailing at Rs 190, the upper limit of its price band, at a premium of Rs 15 on Wednesday. This indicated a weak listing for the AGS Transact Technologies IPO later this month.
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