AGS Transact Technologies IPO subscribed 88% on opening day

The IPO of AGS Transact Technologies, a payment solutions provider, garnered 88 per cent subscription on Wednesday, the first day of the issue. A day earlier, the company had allotted shares worth Rs 204 crore to anchor investors at Rs 175 per share. The price band for AGS’s IPO is Rs 166-175 per share. At the top-end, the company is valued at Rs 2,107 crore. The IPO consists of a secondary share sale amounting to Rs 680 crore. As of March 31, 2021, AGS was the second largest company in the country India in terms of revenue generated from ATM managed services under the outsourcing model. The company is also one of the largest deployers of point-of-sale (PoS) terminals at petroleum outlets in India.