AGS Transact Tech IPO Listing: Issue makes flat debut on NSE, BSE in line with street's expectations
AGS Transact Tech IPO Listing: Shares of AGS Transact Technologies made a flat debut on the bourses as anticipated by the market experts and Zee Business Managing Editor Anil Singhvi on Monday.
AGS Transact Tech IPO Listing: Shares of AGS Transact Technologies made a flat debut on the bourses as anticipated by the market experts and Zee Business Managing Editor Anil Singhvi on Monday. Shares of omni-channel payment solution were listed at Rs 176 per share on the BSE on Monday. This was Rs 1 or 0.57% gain on the issue price Rs 175 apiece. On the NSE, the shares debuted flat at Rs 175 apiece.
At 9.40 am, shares of AGS Transact Technologies Ltd were trading with Rs 46.00 or 26.29% discount to Rs 129 a share n the BSE.
Ahead of the listing, Zee Business Managing Editor Anil Singhvi said the IPO is expected to list around issue price of Rs 175 a share.
Earlier too, Singhvi had recommended investors to avoid this issue. He said financial of the company is not impressive and AGS Transact Technologies had also incurred loss in current year.
The three-day initial public offering (IPO) of AGS Transact Technologies Limited had opened for public subscription on January 19, 2022 and closed on Friday, January 21,2022. The IPO was subscribed 7.79 times during the three-day from January 19 to January 21, 2022.
See Zee Business Live TV Streaming Below:
It was a Rs 680-crore public offer. The company has reduced the size of the IPO after it had filed for preliminary papers with capital markets regulator Sebi to mop-up Rs 800 crore through an initial share-sale in August.
The initial public offering came in the price range of Rs 166-175 per share. The minimum quantity was 85 shares or one lot for retail investors. The IPO was entirely an offer for sale (OFS) by a promoter and other selling shareholders.
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. Founded by Ravi Goyal as chairman of AGS Transact Tech, the company began its entrepreneurial journey in 1997 by starting a colour matching dispenser company.
Later, AGS Transact forayed into three finance Industry. 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
IRCTC Dividend 2024: Railway PSU announces 200% interim dividend - Check record date and other details
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?
09:53 AM IST