AGS Transact Technologies Raises Rs 204 Crore from Anchor Investors

Omni-channel payment solutions provider AGS Transact Technologies raised Rs 204 crore from 17 anchor investors ahead of its IPO slated. This would be the first IPO of 2022. The company in its BSE filing said it has finalised allocation of 1,16,57,141 equity shares to anchor investors, at a price of Rs 175 per equity share.

Marquee investors invested in the company via anchor book included BNP Paribas Arbitrage – ODI, Ashoka India Equity Investment Trust Plc, Kuber India Fund, Saint Capital Fund, Tara Emerging Asia Liquid Fund, Cohesion MK Best Ideas, and Authum Investment and Infrastructure. Among others, HDFC Balanced Advantage Fund, Nippon India Small Cap Fund, IIFL Special Opportunities Fund, Abakkus Growth Fund, Quant Mutual Fund, and Resonance Opportunities Fund also participated in the anchor book.

It is going to raise Rs 680 crore through its public issue which is entirely an offer for sale by selling shareholders including promoter. The price band for the offer, which will close on January 21, has been fixed at Rs 166- Rs 175 per equity share.

The company provides customized products and services comprising ATM (automated teller machine) and CRM (cash recycler machines) outsourcing, cash management, and digital payment solutions including merchant solutions, transaction processing services, and mobile wallets.