AGS Transact Tech IPO garners over 8x subscription on heavy HNI interest

HNI portion subscribed 27 times; The company is one of the largest deployers of point-of-sale terminals at petroleum outlets in India

The IPO of AGS Transact Technologies, a payment solutions provider, garnered over 8 times subscription. The retail portion of the issue was subscribed 3.25 times, high networth individual (HNI) 27 times and institutional portion 2.8 times. The price band for the issue was Rs 166-175 per share. The company had allotted shares worth Rs 204 crore to anchor investors at Rs 175 per share on Tuesday. At the top-end, the company is valued at Rs 2,107 crore. The company’s Rs 680-crore IPO was entirely a secondary share sale by existing investors. As of March 31, 2021, AGS was the second