AGS Transact Tech IPO: Top 10 things to know before the issue opens on January 19

The initial public offering (IPO) of omni-channel payment solution, AGS Transact Technologies Limited, is all set to open for public subscription from Wednesday, January 19, 2022. The three-day public issue will close on Friday, January 21,2022. As the issue opens tomorrow, here is quick guide and top 10 things to know before making application for this public offer.  

1 AGS Transact Tech IPO open and close dates: Payment solutions provider AGS Transact Technologies will remain open from January 19 till January 21.  

2. AGS Transact Tech IPO issue size: It is 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. 

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3. AGS Transact Tech IPO Price Range: The initial public offering comes in a price range of Rs 166-175 per share. The minimum quantity is 85 shares or one lot for retail investors.  

4. AGS Transact Tech IPO type: The IPO is entirely an offer for sale (OFS) by a promoter and other selling shareholders. The company’s promoter Ravi B Goyal will sell shares worth up to Rs 677.58 crore.  

5. AGS Transact Tech IPO allocation: As per the company's DRHP, half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for the retail investors and the remaining 15 per cent is for non-institutional investors. 

6. AGS Transact Tech IPO other key dates: The allotment of shares will begin on January 27, while those who do get the shares can expect refund initiation beginning January 28. Allotment finalization dates is January 31, 2022, while listing on exchanges will be on February 1, the day Union Finance Minister Nirmala Sitharaman will present Budget 2022. The dates are as per discount broker Upstox. 

7. AGS Transact Tech IPO Lead Managers: ICICI Securities, HDFC Bank and JM Financial are the lead managers to the issue.  

8. AGS Transact Tech IPO listing: The equity shares of the company will be listed on BSE and NSE. 

9. AGS Transact Tech IPO previous attempts: Prior to this, the company had made several attempts to go public. Earlier in 2018, AGS Transact Tech had filed draft papers with Sebi to raise Rs 1,000 crore through an IPO. It had secured the regulator's nod but did not go ahead with the plan. Later, it again cut the IPO size and applied for Rs 800-crore issue in August 2021. 

10. AGS Transact Tech company details: 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.