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The initial public offering (IPO) of AGS Transact Technologies will open for subscription on Wednesday, January 19. The price band of the three day initial share-sale has been fixed at ₹166-175 a share. The bidding for anchor investors will open on January 18 and the issue will conclude on Friday, January 21.
As per market observers, AGS Transact Tech shares were commanding a premium (GMP) of ₹18 in the grey market. The company’s shares are expected to list on stock exchanges BSE and NSE on February 1, 2022.
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 provides customised products and services comprising ATM and Cash Recycler Machines (CRM) outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets.
As of March 31, 2021, AGS was the second largest company in India in terms of revenue from ATM managed services under the outsourcing model, and revenue from cash management and number of ATMs replenished, highlighted Axis Securities in a note.
For the financial year 2021, the company’s total income was ₹1,797 crore, and the profit before tax was ₹82 crore. The EBITDA was ₹476 crore and margin stood at 26.5%.
The payment solutions provider’s public issue, which will be the first in the new year 2022, is purely an offer-for-sale (OFS) of equity shares by a promoter and other selling shareholders. The company has cut the size of its public issue to ₹680 crore, from ₹800 crore as planned earlier.
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