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AGS Transact Technologies Limited is set to open for initial public offering (IPO) for three days starting from January 19, 2022. The company plans to raise Rs 680 crore through the IPO. The company has fixed its price band at Rs 166-175 per equity share. The IPO issue comprises of only Offer For Sale.
Company Summary
AGS Transact Technologies Limited is one of the largest integrated omni-channel payment solutions provider in India in terms of providing digital and cash-based solutions to banks and corporate clients. They serve diverse industries such as banking, retail, petroleum, toll and transit, cash management and fintech in India and other select countries in Asia.
The company has three business segments: Payment Solutions; Banking Automation Solutions; Other Automation Solutions encompassing the sale of machines, system automation products, system integration, remote management, and other related service offerings to customers.
The company 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. As of March 31, 2021, AGS is the second largest company in India in terms of revenue from ATM managed services under the outsourcing model, and revenue from cash management and number of ATMs replenished, according to Ken ATM report.
As of August 31, 2021, the company has deployed 221,066 payment terminals and it is the biggest deployer of POS terminals at petroleum outlets in India, having rolled out IPS at more than 16,000 petroleum outlets with 28,986 terminals in India as March-end 2021.
The company has operations in both domestic and international markets including Sri Lanka, Singapore, Cambodia, Philippines and Indonesia.
Company Strengths
- A multi-channel integrated payment and cash solutions provider.
- Customer driven portfolio with strong capabilities to develop customized solutions for its clients. in-house.
- Diversified product portfolio, customer base and revenue streams leading to cross-selling opportunities.
- Long-standing relationships with technology providers and customers.
- Experienced board of directors and senior management.
Company Financials
Particulars | For the period ended (Rs in crore) | ||
31-Aug-21 | 31-Mar-21 | 31-Mar-20 | |
Total Assets | 2,917.03 | 2,913.83 | 2,241.39 |
Total Revenue | 762.3 | 1,797.15 | 1,833.53 |
Profit After Tax | -18.11 | 54.79 | 83.01 |
Company Promoters
Ravi B. Goyal and Vineha Enterprises Pvt Ltd are the promoters of the company.
Purpose of the IPO
The purpose of the IPO is to carry out the offer for sale by the selling shareholders and to realise the benefits of listing of the equity shares in Indian stock exchanges. The company also expects wider brand visibility and creation of a public market for its equity shares in India.
IPO Details
IPO Opening Date | January 19, 2022 |
IPO Closing Date | January 21, 2022 |
Issue Type | Book Built Issue IPO |
Face Value | Rs 10 per equity share |
IPO Price | Rs 166 to Rs 175 per equity share |
Market Lot | 85 Shares |
Minimum Order Quantity | 85 Shares |
Listing At | BSE, NSE |
IPO Lot Size
Application | Lots | Shares | Amount (Cut-off) |
Minimum | 1 | 85 | Rs 14,875 |
Maximum | 13 | 1105 | Rs 1,93,375 |