AGS Transact Technologies, one of the largest omnichannel payment solutions providers, will be launching its initial public offering (IPO) on Wednesday, January 19. The issue will close for subscription on January 21. The price band has been set at Rs 166-175.
The issues size of the IPO is Rs 680 crore, a cut-back from earlier estimate of Rs 800 crore. The IPO is wholly an offer-for-sale (OFS) from the existing promoter Ravi B Goyal. None of the proceeds from the IPO will go to the company. The lot size for the issue is 85 shares, and investors can bid for multiple lots. ICICI Securities, HDFC Bank and JM Financial are the running leads for the issue.
Of the issue, 50 percent has been reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors and 35 percent for retail investors.
The company is a leading payment solutions provider, with its core revenue streams being payment solutions, banking automation solutions and other automation solutions. AGS is the largest deployer of POS terminals at petrol stations across India and the second-biggest company in terms of revenue from ATM managed services. The company also has a presence in other countries like Sri Lanka, Cambodia, Singapore, Indonesia, and the Philippines.
The company reported a profit of Rs 54.79 crore during the previous fiscal year 2020-21. In FY19-20 the company had reported a profit of Rs 83.01 crore. The revenue of the company was reported to be Rs 1,797.15 crore in FY21 and Rs 1,883.52 crore in FY20.
The IPO of AGS Transact Technologies will be the first of calendar year 2022 to hit the market.
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(Edited by : Thomas Abraham)
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