Shares of AGS Transact Technologies saw a flat listing on Monday as the stock resumed trading 176 on NSE, 0.9% higher than its IPO issue price 175 per. On BSE, the stock made its debut 176 per share and rose over 3% After listing in 180 minutes.
Leading Payment Solution Provider 680 crore Initial Public Offering (IPO) was subscribed more than eight times. Retail demand was subscribed by 3.25 times, qualified institutional buyers 2.82 times and the non-institutional category 27 times. it was picked up earlier 204 crore from anchor investors.
Issue with price band of 166-175 each, opened for public subscription on 19 January and ended on 21 January. The initial share sale was purely an offer for sale (OFS) of valued equity shares. 680 crores by one promoter and other selling shareholders.
Promoter Ravi B Goyal sold shares of Rs. 650 crore, but the company informed the exchanges that they pumped the entire money back into the company on January 29 by subscribing to CCPS or compulsorily convertible preference shares.
AGS Transact is an integrated omnichannel payment solutions provider that provides customized products and services including ATM and cash-recycling machine outsourcing, merchant solutions including cash management and digital payment solutions, transaction processing services and mobile wallets. It has over 80 banking partners and 72,000 ATM/cash-recycling machines, and over 2.2 lakh sales machines.
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,