The first IPO of the year 2022 will open on January 19. Payment solution service provider AGS Transact Technologies is bringing this IPO. The company has fixed the price band of this IPO at Rs 166-175 per share. The IPO will close on January 21.
AGS Transact Technologies had earlier kept the size of its IPO at Rs 800 crore, but later increased it to Rs 680 crore. It is expected that this IPO can be listed on the exchange on February 1. The issue will be purely offer for sale, in which promoter Ravi B Goyal will sell shares up to Rs 677.58 crore.
Company Profile
AGS Transact Technologies provides customized products and services for services such as ATM and CRM outsourcing cash management, digital payment solutions, transaction processing services and mobile wallets. The promoters of the company are Ravi B. Goyal and Vineha Enterprises. The combined stake of both in the company is 97.61 percent while 1.51 percent stake is with AGSTTL Employees Welfare Trust.
Covid-19 paved the way for many IPOs
Due to the increasing uncertainty in the market due to the increasing cases of Corona and the recent decline, all IPOs have been delayed. Along with this, their size has also been cut. IPOs of many companies have been stuck due to Covid-19.
