AGS Transact Technologies made a muted debut on Dalal Street on Monday. On BSE, AGS Transact Technologies shares listed at Rs 176, a premium of 0.6 percent over the issue price of Rs 175. On NSE, the stock began its journey flat at Rs 175.

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The Dalal Street debut of AGS Transaction Technologies was in line with the trend seen in the grey market ahead of the listing on BSE and NSE.

During the IPO, AGS shares had commanded a grey market premium (GMP) of up to Rs 15, which came down to Rs 5 prior to the listing.

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The stock ended at Rs 161.3 apiece on BSE and Rs 160.5 apiece on NSE on the listing day -- a discount of around eight percent each.

Ravi Singh, Vice President and Head of Research at Share India Securities, sees AGS Transact Technologies as a good option for long-term gains, given the company's diversified product portfolio, customer base and revenue stream.

The IPO of AGS Transact Tech was open for subscription from January 19 to January 21. The initial share sale saw an overall subscription of 7.8 times. Shares were available for bidding in a price range of Rs 166-175 apiece under the IPO.

The portion reserved for qualified institutional buyers (QIBs) was subscribed 2.7 times and that for non-institutional investors (NIIs) 25.6 times. The quota reserved for retail investors was booked 3.1 times.

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Mumbai-based AGS Transact Technologies provides a slew of customised products and services. The company operates in payment solutions as well as banking and other automation solutions.

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First Published:Jan 31, 2022 9:59 AM IST