AGS Transact Tech IPO listing today: Public offer to debut on bourses around its issue price, says Anil Singhvi

AGS Transact Tech IPO (Initial Public offer) is all set to be listed on the bourses on Monday, January 31, 2022.  The three-day initial public offering (IPO) of omni-channel payment solution, AGS Transact Technologies Limited, had opened for public subscription on January 19, 2022. The issue closed on Friday, January 21,2022.     

The IPO was subscribed 7.79 times during the three days from January 19 to January 21, 2022 from all categories of investors. 

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.  "Despite free cash flow, debt is on the higher side in the company. Besides, it also has record of delay in paying salary to employees, GST and few creditors in the past, which does not augur well for this omni-channel payment solution provider," he had said.

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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 payment solutions provider AGS Transact Technologies issue is a Rs 680-crore public offer. The company had 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 offer comes in a price range of Rs 166-175 per share. The minimum quantity is 85 shares or one lot for retail investors.