AGS Transact Technologies IPO Allotment this Week: Today’s GMP, Other Key Details

AGS Transact Technologies IPO: The initial share sale of AGS Transact Technologies saw an overwhelming response from investors across the country, as it was the first IPO to go live in the current year. he AGS Transact Technologies IPO was subscribed 8.22 times on the last of bidding, mostly backed by non institutional buyers, according to data available with the Bombay Stock Exchange or BSE. The public offer came after a one-month gap at the primary market, following a year full of blockbuster issues at the Dalal Street with several companies making records through them. Investors are naturally expecting the first IPO of the year to be a hit.

The strong response to the AGS Transact Technologies IPO was mostly backed by non institutional investors, who subscribed to 27 times of the portion reserved for them. On the other hand, retail buyers bid for 3.25 times of the shares set aside for them, while Qualified institutional buyers put in bids for 2.82 times of their reserved portion. During the three-day window between January 19 to 21, investors booked around 25.57 crore shares of the company against an issue size of over 2.86 crore (2,86,74,696) shares, as per BSE data.

However, though bidders showed a strong response towards the issue, the AGS Transact Technologies IPO GMP spoke otherwise. The unlisted shares of AGS Transact Technologies were retailing at Rs 185 at the upper end of the price band on Monday, January 24, at a Rs 10 premium on the upper limit of its price band, as per ipowatch.com. This indicated a weak listing for the AGS Transact Technologies shares in February.

The AGS Transact Technologies IPO had a price band of Rs 166 to Rs 175 per equity share. The company plans to raise Rs 680 crore through the issue, of which Rs 204 crore has already been raised through anchor investment. The entire issue only had an offer for sale, or OFS portion, and thus the company will not receive any proceeds from the IPO issue.

The IPO comes at a time when the market price is falling, taking cues on the global scenario. At the Dalal Street, Sensex on Monday, December 24, opened with a fall of 200 points. Zomato, which had been soaring since its bumper IPO listing last year, fell over 19 per cent during the intra-day trade session. Index majors Wipro, Bajaj Finserv and Infosys also fell amid a largely negative trend in global markets. Asian Paints was the top loser in the Sensex pack, shedding 2.44 per cent, followed by Tech Mahindra, Wipro, Bajaj Finserv, Infosys, HCL Tech and Bajaj Finance, indicating that tech companies were facing a loss.

AGS Transact Technologies Limited is an integrated omni-channel payment solutions provider operating in India. The company operates in three business segments, i.e. Payment Solutions, Banking Automation Solutions and Other Automation Solutions. According to the RHP, AGS is the only cash management company that has followed Ministry of Home Affairs guidelines on a pan-India basis.

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