AGS Transact Technologies' shares rebounded and ended the session more than 3 percent higher on Wednesday, following a weak listing earlier on January 31.

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The stock, which ended the listing day at a discount of around eight percent to the issue price, closed at Rs 165.55, up 3.18 percent from the previous close.

At this level, the shares of AGS Transact Tech, the first debutant on stock exchanges in 2022, were available at a discount of 5 percent to the issue price of Rs 175.

AGS Transact Tech Rs 680-crore initial public offering was subscribed more than eight times on January 21, the final day of the bidding process. The quotas reserved for qualified institutional buyers (QIBs) and non-institutional investors (NIIs) were subscribed 2.7 times and 25.6 times respectively. The portion reserved for retail investors saw a booking of 3.1 times.

The company had set a price band of Rs 166-175 apiece.

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

AGS Transact Tech provides customised products and services comprising ATM and Cash Recycler Machines (CRM) outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets.

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First Published:Feb 2, 2022 3:23 PM IST