The public issue is purely an offer of sale (OFS) of equity shares by the promoter. As a part of the OFS, promoter Ravi B Goyal will sell shares worth up to Rs 680.
This means the company will not receive any proceeds from the issue sale. The company has cut the issue size to Rs 680 crore from Rs 800 crore earlier.
Investors can bid for a minimum of 85 equity shares and in multiples thereof. The issue can be subscribed till January 21, Friday.
AGS Transact is one of India’s leading omni-channel payment solution providers. The firm primarily operates in three business segments — payment solutions, banking automation solutions and other automation solutions.
The company not just serves the Indian market but also has a footprint in other Asian countries, including Sri Lanka, Cambodia, Singapore, Indonesia, and Philippines.
It is the second-largest company in India in terms of revenue from ATM managed services and also the largest deployer of POS terminals at petroleum outlets in India.
Fifty per cent of the net issue is reserved for qualified institutional buyers (QIBs), while non-institutional investors have 15 per cent of shares allocated for them. The retail portion has been fixed at 35 per cent of the offer.
The company reported a net profit of Rs 54.79 crore in the fiscal year 2020-21 compared with a profit of Rs 83.01 crore in the previous fiscal. The revenue of the company dropped to Rs 1,797.15 crore in FY21 from Rs 1,883.52 crore in FY20.
For the period ended on August 31, 2021, the company reported a net loss of Rs 18.10 crore with a revenue of Rs 762.30 crore. It is the first IPO of 2022.
ICICI Securities, HDFC Bank and JM Financial are the lead managers to the issue, whereas Link Intime India is appointed as the registrar to the issue. The equity shares of the company will be listed on BSE and NSE.