AGS Transact Technologies Ends Third Day of IPO Subscription Strongly

5 August 2022
3 mins read
AGS Transact Technologies Ends Third Day of IPO Subscription Strongly

AGS Transact Technologies is one of India’s leading omnichannel payment solution providers, offering cash and other digital-based payment solutions to banks and other corporates. In its recent share market subscription hurrah, the company has recorded a strong performance, especially on its third day.

AGS Transact Technologies IPO received a total subscription of 7.79 times over three days of bidding. Moreover, the payment solution provider accepted bids for 22,34,74,265 shares against the 2,86,74,696 equity shares on offer.

After starting its journey in 2004, AGSTTL, with strategic and technical assistance from ACI Worldwide and Diebold Nixdorf, created its automation solutions and services network.

The company filed its DRHP in August 2021 to launch its public issue worth Rs. 680 crores, including both OFS and fresh issue equity shares. Following are some notable details of AGS transact technologies IPO details –

  1. The AGS Transact price band was Rs. 166 to Rs. 175 for every equity share.
  2. The face value of each share is Rs. 10.
  3. It allocated 50% of its total shares for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional ones.
  4. AGSTTL plans to utilise its IPO proceedings to meet general corporate requirements and complete the OFS for participating shareholders.

Read on to know more about AGS Transact IPO subscription.

AGS Transact Technologies IPO Performance on Third Day

Here is a glimpse of how this initial public offering performed on the third day of bidding –

  1. Qualified Institutional Buyers of the QIB segment received bids for 2,19,42,750 shares against 81,92,770 shares kept for this segment.
  2. Retail Individual Investors or RII segment secured bids for 4,41,48,575 shares against 1,43,37,348 shares reserved for this segment.
  3. Non-Institutional Investors ort NII segment sought bids for 15,73,82,940 shares against 61,44,578 shares allotted for this segment.

Moreover, in terms of ‘number of times,’ a segment received bids over this period is as follows –

  • QIB: 2.68 times
  • RII: 3.08 times
  • NII: 25.31 times
  • Overall: 7.79 times

Moving ahead, refer to the following table to know about the AGS Transact subscription status in the first two days of its IPO.

Bidding Day QIB RII NII Total
First Day 0.00 Times 1.32 Times 1.02 Times 0.88 Times
Second Day 0.49 Times 2.06 Times 1.13 Times 1.42 Times

In further AGS Transact Technologies IPO news, let’s take a look at the anchor investment portion of this public issue.

Anchor Investment of AGS Transact Technologies IPO

AGS Transact Technologies opened the anchor investment on 18 January 2022 and mopped up about Rs. 204 crores through it. As per its filing with BSE, it offered 1,16,57,141 shares at a price point of Rs. 175 per share. Additionally, there were a total of 17 participants in this pre-IPO round.

Bottom Line

Looking at the overall bidding for AGS Transact Technologies, it is ideal to comment that it was an average performance. Nonetheless, the company sits on strong financials along with a vast and diverse client base, which accounts for future growth.

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Source: Moneycontrol

Frequently Asked Questions

  1. Who was the registrar of AGS Transact IPO?

The registrar of this IPO of AGS Transact Technologies was Link Intime India Private Limited.

  1. Who were the lead managers of this public issue of AGS Transact Technologies?

The lead managers of this public issue of AGS Transact Technologies were ICICI Securities Limited, JM Financial Limited and HDFC Bank Limited.

  1. What is the listing date of AGS Transact Technologies IPO?

The listing date of AGS Transact Technologies IPO is 1 February 2022.

DisclaimerThis blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.