Latest News | AGS Transact Tech IPO Subscribed over 8 Times on Final Day

New Delhi, Jan 21 (PTI) The Rs 680-crore initial public offering of payment solutions provider AGS Transact Technologies was subscribed more than eight times on Friday, the final day of the bidding process, on robust support from investors.

The IPO received bids for 2.87 crore equity shares against an offer size of 22.35 crore, translating into a subscription of 8.22 times.

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The portion reserved for retail investors was subscribed 3.25 times, qualified institutional buyers category 2.82 times, and non-institutional category received 27 times subscription, according to the data shared by the company.

AGS Transact Technologies on Tuesday raised Rs 204 crore from anchor investors.

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The IPO is purely an offer of sale (OFS) of equity shares worth Rs 680 crore by promoter and other selling shareholders.

The issue, with a price band of Rs 166-175 apiece, opened for public subscription on January 19 and concluded on January 21.

AGS Transact Tech is an integrated omni-channel payment solutions provider.

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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)