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Ags Transact Technologies will list on Monday

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Ags Transact Technologies will list on Monday

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Leading payment solutions provider AGS Transact Technologies, which completed a Rs 680 crore share sale from eight subscriptions last week, listed on Monday with a first trade on BSE.

The IPO, which was carried out through a put offering, received bids for 22.35 crores of shares against an offer of 2.87 crores, resulting in a subscription of 8.22 times, the company said after the show closed on Jan. 21.

Retail demand was 3.25x, qualified institutional buyers 2.82x, and the non-institutional category received 27x subscription. It previously raised Rs 204 crore from anchor investors.

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The Rs 680 crore issue saw promoters and other selling shareholders sell stakes at a price range of Rs 166-175.

AGS Transact is an integrated omnichannel payment solutions provider that offers customized products and services including ATM and ATM outsourcing, cash management and digital payment solutions, including merchant solutions, transaction processing services and mobile wallets.

Through the Offer of Sale (OFS), promoter Ravi B Goyal had sold shares worth Rs 650 crore, but the company informed the exchanges that he had funneled all the money back into the company by subscribing to the CCPS or to mandatory convertible preferred shares on January 29. .

As a result, the debt-to-equity ratio and debt-to-operating profit ratio have now become solid, which will lead to substantial savings in financial costs, thereby improving profitability, he said.

AGS is the national ATM industry leader. It has over 80 banking partners and serves 72,000 ATMs/ATMs, and has over 2.2 lakh outlets.

(Edited by : Jomy Jos Pullokaran)

Ags Transact Technologies will list on Monday

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