AGS Transact Technologies files DRHP with SEBI for IPO

Mumbai - AGS Transact Technologies Ltd, one of the leading system integrators in the business of touch point transformation; a business that transforms the way a customer interacts with the service provider enabling efficient delivery of their products and services, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an initial public offer offering (IPO) of 62,50,000 equity shares of Rs. 10 each, at a price range yet to be determined (the "Issue").

The Issue, which will be through a 100% book building process, shall constitute 25% of the post-issue paid up equity capital of the Company. Up to 50% of the Issue shall be allocated on a proportionate basis to qualified institutional buyers(QIB), not less than 15% of the Issue shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 35% of the Issue shall be available for allocation on a proportionate basis to retail individual bidders. . The Company may allocate up to 30% of the QIB Portion to Anchor Investors on a discretionary basis.

Avendus Capital Private Limited and YES Bank Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the Issue.

The Company intends to use the proceeds of the issue towards setting up and deploying 1,541 ATMs in accordance with their contract with Axis Bank. AGS also aims to set up a 24X7 command and support center. The company plans to set up cash management branch offices in six cities.

Source : Equity Bulls

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