AGS Transact Technologies IPO (Initial Public Offering) opened for subscription on 19 January 2022 and will be open for bidding till 21 January 2022. Hence, the bidders have only one day left to apply for the public issue. AGS Transact Technologies IPO up to 2 days as per subscription status, Public Issue Price 680 crore has been subscribed 1.42 times while its retail segment has been subscribed 2.06 times. As per market observers, AGS Transact Technologies shares are available at a premium to 10 in the gray market today.
AGS Transact Technologies IPO GMP
As per market observers, AGS Transact Technologies IPO is Gray Market Premium (GMP) today 10, which is 2 more than yesterday’s gray market premium. Market observers said the AGS Transact Technologies IPO GMP had been a nosebleed since its debut in the gray market last week. In the past week, it had fallen from 23 8 level, but today’s increase in the AGS Transact Technologies IPO GMP may attract some additional bidders for the public offering. He said the indifferent response to the public issue can be attributed to 100 per cent Offer for Sale (OFS).
What does this GMP mean?
On what is meant by this GMP, market observers said that the gray market premium is nothing but an informal speculation about the profit listed by the gray market that one can expect from a public issue. AGS Transact Technologies IPO Is Today as GMP 10, it means gray market is expecting this IPO to be listed approx. 185 ( 175 + 10), which is about 6 percent higher than its price band from 166 175 per equity share.
However, stock market experts are of the opinion that GMP should not be the criterion to decide the success or failure of an IPO as it has nothing to do with the balance sheet of the company.
AGS Transact Technologies IPO: Subscribe or Not?
Whether to apply for IPO or not; Aastha Jain, Senior Research Analyst, Hem Securities said, “The company is bringing this issue at the price band. 166-175 per share at a p/e multiplier of 38x on FY21 eps basis. Being an omni-channel integrated payment and cash solutions provider, the company has a customer driven portfolio with strong capability to develop customized solutions in house. The company has a diverse product portfolio, customer base and revenue streams that lead to cross-selling opportunities, longstanding relationships with technology providers and customers. In addition, the company has dedicated in-house infrastructure and technical capabilities with an experienced Board of Directors and senior management. Therefore, we recommend “Subscribe” to the issue for a long-term perspective.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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