New Delhi. AGS Transact Technologies IPO is opening for subscription from today. For this, bidding can be done till Friday, January 21, 2022. After peace in the IPO market for about a month, now the IPO of a company has come. The country’s second largest company on the basis of income from ATM services, plans to raise Rs 680 crore from this IPO.
The company provides customized products and services to banks and corporates for services such as ATMs and Cash Recycler Machines (CRM), outsourcing cash management, digital payment solutions, transaction processing services and mobile wallets. Company’s promoter Ravi B. Goyal and Vineha are enterprises. The combined stake of both in the company is 97.61 percent, while 1.51 percent is held by AGSTTL Employees Welfare Trust.
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Price band is Rs 166-175
AGS Transact Technologies has fixed a price band of Rs 166 to Rs 175 for the IPO. Under the IPO, the company did not issue any new shares, but it is purely offer-for-sale (OFS). Under this, the promoters and shareholders of the company will sell their stake. This means that the money received from this IPO will not go to the company’s account but will go to the promoters and shareholders.
35% reserve for retail investors
50% of the IPO of AGS Transact Technologies is reserved for Qualified Institutional Buyers (QIBs). 35% share has been kept for common investors i.e. retail investors. The remaining 15 per cent is reserved for non-institutional investors. According to experts, the shares of AGS Transact Technologies were trading at Rs 195-196 in the gray market on Tuesday, which is Rs 20-21 more than its issue price of Rs 175.
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Maximum can buy 13 lots
Investors can bid for the IPO of AGS Transact Technologies by lot. There will be 85 shares of the company in one lot. Investors will have to invest a minimum of Rs 14,875 for a lot. An investor can bid for a maximum of 13 lots. For this he will have to invest Rs 1,93,375.
The company will be listed on February 1
AGS Transact Technologies is going to be the first company to be listed on the stock market in the year 2022. The company’s shares will be listed on BSE and NSE on February 1, 2022. Under the offer-for-sale (OFS), the company’s promoter Ravi B Goyal will sell shares worth about Rs 677.58 crore. VC Gupta, Shailesh Shetty, Rakesh Kumar, Nikhil Patiyat and Rajesh Harshedari Shah together will sell shares worth Rs 2.42 crore.
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