AGS Transact Tech IPO fully subscribed on second day of the issue. GMP, key details here
The original public immolation (IPO) of payment results provider AGS Transact Technologies has been completely subscribed at1.22 x on the alternate day of the issue so far. The price range for the three- day share trade, that opened on January 19, is fixed at ₹ 166-175 per share As of 1250 pm on day 2 on Thursday, AGS Transact Tech IPO has been oversubscribed by retail investors and Non Institutional Investors (NIIs) at1.55 times and1.02 independently while QIBs bid0.47 x, BSE data showed.
The IPO, which is the first in the new time 2022, is purely an offer-for- trade (OFS) of equity shares worth ₹ 680 crore by a protagonist and other dealing shareholders As per request spectators, AGS Transact Tech shares decoration (GMP) has slipped to ₹ 8 in the slate request moment. The company’s shares are anticipated to list on stock exchanges BSE and NSE on February 1, 2022. Assigning Subscribe standing to the IPO, brokerage house Emkay said that, “ We believe AGS provides an occasion to invest in a cash-cum-digital play from a long- term perspective. At the advanced price band of Rs175, the stock is valued analogous to its peers like CMS Info Systems.”
Though, the brokerage sees Loss of ATM business accreditation with large bank, Covid- led business dislocation and detention in the scale-up of digital payment business as crucial pitfalls AGS Transact Tech is an intertwined omni- channel payment results provider in India in terms of furnishing digital and cash- grounded results to banks and corporates.
As of March 31, 2021, AGS was the second largest company in India in terms of profit from ATM managed services under the outsourcing model, and profit from cash operation and number of ATMs replenished, stressed Axis Securities in a note For the fiscal time 2021, the company’s total income was ₹ crore, and the profit before duty was ₹ 82 crore. The EBITDA was at ₹ 476 crore and the periphery stood at26.5.
