The AGS Transact IPO is now live: Here’s what brokerages suggest
- ByStartupStory | January 19, 2022
The subscription period for AGS Transact Technologies’ initial public offering (IPO) began on Wednesday. The majority of analysts are bullish on the stock because of its solid portfolio and growth prospects. While some have voiced concerns about premium valuations and losses reported in the first five months of the current fiscal year, others have not.
The transaction is fully a buyout offer from the promoters, who would sell equity shares for Rs 680 crore. Previously, the company planned to raise Rs800 million through a primary offering.
The brokerage has recommended that investors subscribe to the issue because of the company’s market leadership in ATM managed services and cash management, as well as its solid margins and high return ratios, unique product offerings, robust industry growth, and valuation at a discount to peers.
According to a circular posted on the BSE website, AGS Transact Technologies collected Rs 204 crore from anchor investors by allotting approximately 1.16 crore equity shares at Rs 175 each.
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