AGS Transact IPO to open on Jan 19, price band fixed at Rs 166-Rs 175

Payments solutions provider AGS Transact Technologies will kickstart the initial public offer  (IPO) season of 2022 on January 19. The firm has fixed a price band of Rs 166-175 for the IPO. The issue will close on January 21. The company is expected to list on exchanges on February 1.

The IPO size has been cut to Rs 680 crore from Rs 800 crore. The issue will be entirely be an offer for sale wherein promoter Ravi B Goyal will offload shares worth up to Rs 677.58 crore. The allotment of shares is likely to be done on January 27, 2022.

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Lot size of the AGS Transact IPO is 85 shares for which one will have to spend Rs 14,875. A retail individual investor can apply for up to 13 lots or 1,105 shares by spending Rs 193,375. Promoters of the company are Ravi B Goyal and Vineha Enterprises. Together, they hold 97.61 percent stake in the company.

The shareholding of AGSTTL Employees Welfare Trust stands at 1.51 percent . The objects of the issue are to carry out an offer for sale by selling shareholders and to realize the listing benefits of equity shares on the stock exchange.

ICICI Securities, HDFC Bank and JM Financial are book-running lead managers for the issue.

AGS Transact Technologies provides customised products and services comprising ATM and CRM outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets.