AGS Transact Applied sciences IPO: The preliminary share sale of the primary IPO of the 12 months ended a day again and obtained a sturdy response from bidders on the time of closing. The AGS Transact Applied sciences IPO was subscribed 8.22 occasions on Day Three of bidding, after which the provide was closed, in response to information out there on the web site of Bombay Inventory Trade, or BSE. The general public provide got here after a one-month hole on the major market, following a 12 months stuffed with blockbuster points on the Dalal Avenue with a number of corporations making information by way of them. It was the primary preliminary public providing of this 12 months.
The general public provide of AGS Transact Technologies Limited opened on January 19 and closed on January 22. Throughout these three days of bidding, traders booked round 25.57 crore shares of the corporate towards a difficulty dimension of over 2.86 crore (2,86,74,696) shares, as per BSE information.
The sturdy response to the AGS Transact Technologies IPO was principally backed by non institutional traders, who subscribed to 27 occasions of the portion reserved for them. Alternatively, retail patrons bid for 3.25 occasions of the shares put aside for them, whereas Certified institutional patrons put in bids for two.82 occasions of their reserved portion.
The premise of allotment course of will probably be finished on January 27, whereas bidders who will probably be chosen will get their credit score to demat accounts on January 31. Bidders who won’t qualify will get a refund on January 28. The difficulty could be listed o BSE and NSE on February 1, which is round two weeks later.
The corporate plans to lift Rs 680 crore by way of the difficulty, of which Rs 204 crore has already been raised by way of anchor funding. The whole problem solely had a proposal on the market, or OFS portion, and thus the corporate won’t obtain any proceeds from the IPO problem.
The provide had a worth band of Rs 166 to Rs 175 per fairness share.
The unlisted shares of AGS Transact Applied sciences had been retailing at Rs 190 on Friday, January 21, at a Rs 15 premium on the higher restrict of its worth band, as per ipowatch.com. The info for Saturday was not out there on the time of writing this text.
AGS and the promoter promoting shareholder entered into an settlement, pursuant to which the promoting shareholders from the OFS web proceeds will buy the compulsorily convertible desire shares (of promoter company) held by AGS. This, in flip, will probably be utilised to redeem the issued excellent NCDs. Not directly, the funds will probably be obtained by the corporate, which will probably be utilized to cut back the debt burden.
AGS Transact Applied sciences Restricted is an built-in omni-channel cost options supplier working in India. The corporate operates in three enterprise segments, i.e. Cost Options, Banking Automation Options and Different Automation Options. In line with the RHP, AGS is the one money administration firm that has adopted Ministry of Dwelling Affairs tips on a pan-India foundation.