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Business Update AGS Transact Tech sets the IPO price band at ₹ 166-175 / share TOU

AGS Transact Tech sets the IPO price band at ₹ 166-175 / share

Payment solutions provider AGS Transact Technology on Friday set a price band of ₹ 166-175 per share for its initial public offering (IPO).

The three-day initial share sale will open on January 19 and end on January 21. The bidding for anchor investors will open on January 18, according to the company.

The company has reduced the size of its public issue to ₹ 680 crore from અગાઉ 800 crore previously planned.

A public issue is simply an offer-for-sale (OFS) of equity shares by the promoter and other selling shareholders.

Promoter to offer shares

As part of OFS, promoter Ravi B Goyal will now sell shares worth up to ₹ 677.58 crore. Earlier, it wanted to offload ના 792 crore worth of shares.

Half of the issue size is reserved for eligible institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

Investors can bid on at least 85 equity shares and its multiples.

AGS Transact Tech is an integrated omni-channel payment solutions provider in India in terms of providing digital and cash-based solutions to banks and corporates.

It offers customized products and services including digital payment solutions including ATM and Cash Recycler machines (CRM) outsourcing, cash management and merchant solutions, transaction processing services and mobile wallets.

Lead managers of ICICI Securities, HDFC Bank and JM Financial Issues. The company’s equity shares will be listed on BSE and NSE.

The company had earlier made several attempts to go public. Earlier in 2018, AGS Transit Tech had filed a draft paper with SEBI to raise ₹ 1,000 crore through an IPO. It also protected the regulator from moving forward but did not move forward with the plan.

The company had filed draft papers with the regulator in 2015 to raise up to ₹ 1,350 crore through initial share-sale, before the company filed preliminary papers with SEBI in 2010 to float the IPO.

Published on

January 14, 2022

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