Shares of AGS Transact Technologies, a payment solutions provider, dropped more than 8 per cent over their issue price on Monday. The company’s IPO, first for calendar 2022, had garnered 8 times subscription. Its shares ended at Rs 161.3, down Rs 14.7, or 8.4 per cent, over IPO price of Rs 176. Its stock touched a high of Rs 182 and a low of Rs 154 on the BSE. At the last close, AGS was valued at Rs 1,942 crore.
Market players blamed volatility in the secondary market for the lacklustre debut. In the past two weeks, the benchmark indices