AGS Transact Technologies IPO: The Rs 680 crore initial public offering (IPO) of payment solutions provider AGS Transact Technologies will open on Wednesday, January 19, 2022, and will be available for subscription till Friday, January 21, 2022. The price band of the IPO has been fixed at Rs 166-175 per share of the face value of Rs 10 each. AGS Transact Technologies is an integrated omnichannel payment solutions provider and provides 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. The IPO is entirely an offer for sale (OFS) by a promoter and other selling shareholders. The company's promoter Ravi B Goyal will sell shares worth up to Rs 677.58 crore. As of March 31, 2021, AGS is 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, according to the details provided in the red herring prospectus (RHP). Upon its listing, it'll join CMS Info Systems which just got listed last month. AGS Transact Technologies has tried multiple times to go public. Prior to this, in 2018, it had filed its draft papers with market regulator Sebi for raising Rs 1,000 crore through IPO and although it had secured the regulator's nod it did not go ahead with the plan. Before that, it had filed draft papers with the regulator in 2015 to raise up to Rs 1,350 crore through an IPO and prior to that, the firm had filed preliminary papers with Sebi in 2010 to float an IPO. Investors who wish to subscribe to AGS Transact Tech's IPO can bid in the lot of 85 equity shares and multiples thereof. At the upper price band, they will have to shell out Rs 14,875 to get a single lot of AGS. The shares will be listed on both BSE and the National Stock Exchange (NSE). Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for the retail investors and the remaining 15 per cent is for non-institutional investors. Ahead of the public offer, the anchor investors' portion will be available on Tuesday, January 18, 2021. The company expects to realise the benefits of listing of the equity shares on the stock exchanges, enhancement of its brand name and creation of a public market for the equity shares in India, as per the information in the RHP. ICICI Securities, HDFC Bank and JM Financial are the book running lead managers to the IPO while Link Intime India is the registrar of the issue. Apart from this, the share allotment is likely to take place on Thursday, January 27, 2022, and the shares are expected to be listed on Tuesday, February 1, 2022, according to the timeline given in the RHP. -with PTI inputs
