AGS Transact Technologies makes flat market debut, stock lists at Rs 176

Payments solutions provider AGS Transact Technologies made a flat market debut today. Shares of AGS Transact Technologies listed at Rs 176 on BSE compared to the issue price of Rs 175. The company offered its shares in a price band of Rs 166-175. This is the first stock market listing of 2022.

Market cap of the firm stood at Rs 2,118 crore. Total 0.51 lakh shares of the firm changed hands amounting to a turnover of Rs 88.90 crore on BSE.

On NSE, the stock listed at Rs 175. Market cap of the firm rose to Rs 2,161 crore. Total 47.47 lakh shares of the firm changed hands amounting to a turnover of Rs 87.14 crore on the NSE.

The IPO was held from January 19 to January 21.

The company preponed its listing from February 1 as the government will present Union Budget on the same day.

AGS Transact collected Rs 680 crore through the IPO, which was entirely an offer for sale by existing selling shareholders.

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The issue was subscribed 7.79 times on the third and final day.

Non-institutional investors placed bids for 25.61 times their reserved portion. The portion for qualified institutional investors was subscribed 2.68 times and that of retail investors was booked 3.08 times.

Lot size of the AGS Transact IPO was 85 shares for which one would have to spend Rs 14,875. A retail individual investor could 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 held 97.61 percent stake in the company.

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.