AGS Transact Technologies Limited IPO (Initial Public Offerings) was subscribed 1.41 times at 5pm  on Thursday, the second day of the public offer. The three-day initial public offering will close on Friday, January 21,2022.  Omni-channel payment solution AGS Transact Technologies IPO was subscribed 0.88 times at 5 pm on Wednesday. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Against 2,86,74,696 reserved shares for this issue, bids were made for 4,05,74,240 shares, showed NSE IPO bidding details.   

See Zee Business Live TV Streaming Below:

The retail investors portion was subscribed 2.06 times, as Retail Individual Investors (RIIs) bought 2,96,04,140 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 69,57,930 shares against 61,44,578 on offer.  

Qualified Institutional Buyers(QIBs) made bids for 40,12,170 shares against their quota of 81,92,770 shares as the portion was filled 0.49 times on Day2. 

Foreign Institutional Investors (FIIs) were yet to take part in the share sale.  

Zee Business Managing Editor Anil Singhvi had 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.  

Payment solutions provider AGS Transact Technologies plans 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.