AGS Transact makes a flat listing on stock exchanges
AGS Transact Technologies raised Rs 680 crore via its initial stake sale as the issue was open for subscription between January 19-21. The company sold its shares in the range of Rs 166-175 apiece, which was entirely an offer for sale.
By Pawan Nahar, ETMarkets.com |
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New Delhi: AGS Transact Technologies made a flat debut on Dalal Street today as the omni-channel payment solution provider listed at Rs 176 on BSE, a premium of just 0.57 per cent, over its issue price of Rs 175. On the National Stock Exchange (NSE), the counter listed flat at Rs 175.
The stock was expected to make a flat listing given its weak financials, higher valuations, poor market sentiment and intense competition from peers. Even in the grey market, the stock's premium was wiped out completely ahead of the listing.
AGS Transact Technologies raised Rs 680 crore via its initial stake sale as the issue was open for subscription between January 19 and 21. The company sold its shares in the range of Rs 166-175 apiece, which was entirely an offer for sale.
The issue was overall subscribed 7.79 times, thanks to robust bidding from HNIs whose quota was subscribed about 26 times. The QIB and retail portion fetched about 3 times bids each.
AGS Transact Technologies is a leading market player in the ATM management space with strong pan-India network, long standing customer relationship. It has an integrated business platform that offers a diversified product portfolio and strong in-house infrastructure and technological capabilities.
The stock was expected to make a flat listing given its weak financials, higher valuations, poor market sentiment and intense competition from peers. Even in the grey market, the stock's premium was wiped out completely ahead of the listing.
AGS Transact Technologies raised Rs 680 crore via its initial stake sale as the issue was open for subscription between January 19 and 21. The company sold its shares in the range of Rs 166-175 apiece, which was entirely an offer for sale.
The issue was overall subscribed 7.79 times, thanks to robust bidding from HNIs whose quota was subscribed about 26 times. The QIB and retail portion fetched about 3 times bids each.
AGS Transact Technologies is a leading market player in the ATM management space with strong pan-India network, long standing customer relationship. It has an integrated business platform that offers a diversified product portfolio and strong in-house infrastructure and technological capabilities.
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