AGS Transact Technologies' initial public offer (IPO) worth Rs 680 crore was fully subscribed on Thursday, the second day of the bidding process. The IPO, which is entirely an offer for sale (OFS) by promoters and existing shareholders, opened for subscription on Wednesday, and will close on Friday, January 21.

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At the end of the day, the AGS Transact Tech IPO received bids for 4.1 crore shares as against the 2.9 crore shares on offer -- a subscription of 1.4 times the shares on offer.

The portions reserved for qualified institutional buyers (QIBs) and non-institutional investors were subscribed 49 percent and 1.1 times respectively. The quota meant for retail investors was booked 2.1 times.

On Wednesday, the first day of the bidding process, the IPO of AGS Transact Technologies, an integrated omni-channel payment solutions provider, saw an overall subscription of 88 percent.

Under the IPO, AGS Transact Technologies shares are available for bidding in a price band of Rs 166-175, in multiples of 85. At the upper end of the price band, one lot of AGS Transact shares is valued at Rs 14,875.

AGS Transact Technologies raised Rs 204 crore from anchor investors ahead of the IPO.

AGS Transact Technologies will be listed on bourses BSE and NSE on February 1.

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AGS Transact Tech provides a slew of customised products and services, including ATM and CRM outsourcing, cash management and digital payment solutions. It operates in the segments of payment solutions, banking automation solutions and other automation solutions.

For the entire financial year 2020-21, the company reported a net profit of Rs 54.8 crore, as against Rs 83 crore for the corresponding period in the previous year. Its revenue from operations was at Rs 1,758.9 crore for FY21, as against Rs 1,800.4 crore for the previous year.

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First Published:Jan 20, 2022 2:26 PM IST