The three-day initial share-sale will open on January 19, and conclude on January 21. The bidding for anchor investors will open on January 18, according to the company.
Payment solutions provider AGS Transact Technologies on Friday fixed a price band of Rs 166-175 a share for its initial public offering (IPO). The three-day initial share-sale will open on January 19, and conclude on January 21. The bidding for anchor investors will open on January 18, according to the company.
The company has cut the size of its public issue to Rs 680 crore, from Rs 800 crore planned earlier. The public issue is purely an offer-for-sale (OFS) of equity shares by a promoter and other selling shareholders.
As a part of the OFS, promoter Ravi B Goyal will now sell shares worth up to Rs 677.58 crore. Earlier, he was looking to offload shares to the tune of Rs 792 crore.
Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 85 equity shares and in multiples thereof.
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.
ICICI Securities, HDFC Bank and JM Financial are the lead managers to the issue. The equity shares of the company will be listed on BSE and NSE.
Prior to this, the company had made several attempts to go public. Earlier in 2018, AGS Transact Tech had filed draft papers with Sebi to raise Rs 1,000 crore through an IPO. It had secured the regulator’s go-ahead too but did not go ahead with the plan. The company had filed draft papers with the regulator in 2015 to raise up to Rs 1,350 crore through an initial share-sale Prior to that, the firm had filed preliminary papers with Sebi in 2010 to float IPO.
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