AGS Transact Technologies shares are set to make their D-street debut today. AGS Transact Technologies shares will get listed both on National Stock Exchange and Bombay Stock Exchange (BSE) at 10 am on January 28. AGS Transact Technologies is an integrated omnichannel payment solutions provider providing customised products and services comprising ATM and cash-recycling machines outsourcing, cash management, and digital payment solutions including merchant solutions, transaction processing services, and mobile wallets.
The AGS Transact Technologies IPO, which was carried out through an offer for sale, received bids for 22.35 crore shares against an offer of 2.87 crore, translating into a subscription of 8.22 times, the company had said. The retail demand stood at 3.25 times, qualified institutional buyers 2.82 times, and the non-institutional category received 27 times subscription. It had earlier raised Rs 204 crore from anchor investors.
AGS Transact Technologies IPO: What Does the GMP Signal?
According to market observers, shares of AGS Transact Technologies are available at a premium of Rs 5 in the grey market is reflecting muted listing of the public issue. As AGS Transact Technologies IPO GMP today is Rs 4, it means the grey market is expecting AGS Transact Technologies share listing at around 179 ( Rs 175 + Rs 4), which is at par with its price band of Rs 166 to Rs 175 per equity share.
AGS Transact Technologies IPO: What do Analysts Say?
Expecting a tepid debut for AGS Transact Technologies shares; Manoj Dalmia, founder and director, Proassetz Exchange, said: “The GMP for AGS Transact is Rs 4. Although it was subscribed 7.79X and is an OFS we expect a muted debut on the listing. It is advised to book positions if allotted considering the current volatile markets.”
Giving a buy tag to the AGS Transact Technologies shares; Ravi Singhal, vice chairman at GCL Securities said, “The issue was over-priced and there is nothing available for the investor as it is completely offer-for-sale. Considering high volatility and negative sentiment of the current market, I am expecting AGS Transact Technologies shares to list at somewhere around 5 per cent discount.”
On AGS Transact Technologies IPO listing price that one can expect; Ravi Singh, vice president and head of research at Share India said, “Being an integrated omni-channel payment and cash solutions provider, AGS Transact’s diversified product portfolio, customer base, and revenue stream has made it a good option to subscribe for long term gains. However, the current market scenario is not in a positive mode, which may affect the listing gains. We expect the listing may be at a discount somewhere in the range of Rs 160 to Rs 170 per equity share.”
Ashoka India Equity Investment Trust Plc, Kuber India Fund, Saint Capital Fund, IIFL Special Opportunities Fund, Abakkus Growth Fund, HDFC Mutual Fund (MF), Nippon India MF and Quant MF are among the anchor investors.
As of March 31, 2021, the company was 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.
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