Shares of payment solutions provider AGS Transact Technologies will be listed on the bourses on Monday. The company has set the price as ₹175 at the upper end of the price band ₹166-175.
The IPO, which ended on January 21, was subscribed a little over eight times.
The IPO received bids for 22.35 crore equity shares against an offer size of 2.87 crore, subscribing 8.22 times. The portion reserved for retail investors was subscribed 3.25 times, while those of qualified institutional buyers category 2.82 times and non-institutional category received 27 times.
The company had cut the size of its public issue to ₹680 crore, from ₹800 crore planned earlier.
100% offer for sale
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 ₹677.58 crore. Earlier, he was looking to offload shares to the tune of ₹792 crore.
About AGS Transact
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.
Previous attempts
It may be recalled that the company had made a few attempts to go public. Earlier in 2018, AGS Transact Tech had filed draft papers with SEBI to raise ₹1,000 crore through an IPO. It had secured the regulator's go-ahead too but did not go with the plan.
The company had also filed DRHP with the SEBI in 2015 to raise up to ₹1,350 crore and in 2010 as well.
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