AGS Transact Technologies IPO Subscription Status Day 1: Issue booked nearly 90%; retail, NII quotas oversubscribed
Omni-channel payment solution AGS Transact Technologies Limited IPO (Initial Public Offerings) was subscribed 0.88 times at 05:00 pm on Wednesday, the first day of the public offer.
Omni-channel payment solution AGS Transact Technologies Limited IPO (Initial Public Offerings) was subscribed 0.88 times at 05:00 pm on Wednesday, the first day of the public offer. The three-day initial public offering will close on Friday, January 21,2022.
Against 2,86,74,696 reserved shares for this issue, bids were made for 2,51,98,420 shares, showed BSE IPO bidding details.
The retail investors portion was subscribed 132 times, as Retail Individual Investors (RIIs) bought 1,89,18,535 shares against their reserved quota of 1,43,37,348 shares. The Non Institutional Investors' portion was also fully subscribed (1.02 times) as the category saw bidding for 62,79,885 shares against 61,44,578 on offer.
Other categories—Foreign Institutional Investors (FIIs) and Qualified Institutional Buyers (QIBs) — were yet to take part in the share sale amid not so good recommendations from market expert and brokerages.
See Zee Business Live TV Streaming Below:
Zee Business Managing Editor Anil Singhvi on Wednesday recommended them to avoid this issue. Financial of the company is not impressive and AGS Transact Technologies had also incurred loss in current year, said Singhvi before recommending to avoid this issue.
Aayush Agrawal, Senior Analyst, Swastika Investmart Ltd, said one should avoid this public issue stating that the company’s bottom and top lines have been either weak or muted for the last three years and the share price is slightly higher than listed its peers.
Earlier, the payment solutions provider AGS Transact Technologies had planned to mop up Rs 680-crore through the share sale. The offer comes in a price range of Rs 166-175 per share. The minimum quantity is 85 shares or one lot for retail investors.
The company 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. Currently, AGS Transact Tech is India's largest company for ATM managed services. As of March 2021, the company had deployed 2,07,335 payment terminals.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
08:40 PM IST