January 26, 2021 2:58 am

files DRHP with SEBI

AGS Transact Technologies, a cash and digital payment solutions and automation technology provider filed its DRHP with SEBI

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, a cash and digital payment solutions and automation technology provider filed its DRHP with SEBI. AGS deals in customised products and services comprising ATM outsourcing and cash management, as well as digital payment solutions including merchant solutions, transaction processing services and mobile wallets.

The IPO Initial Public Offering (IPO) comprises of equity shares of face value of Rs. 10 each of AGS Transact Technologies Limited aggregating up to Rs. 10,000 million. The fresh issue of up equity shares aggregating up to Rs. 4,000 million and an offer for sale aggregating up to Rs. 6,000 million comprising an offer for sale by Ravi B. Goyal and by the other selling shareholders.

The Company and the Promoter Selling Shareholder may consider a pre-Offer placement of up to 5,000,000 Equity Shares for an aggregate amount not exceeding Rs. 1,250 million at their discretion, said a statement.

The Company said it proposes to utilize the Net Proceeds raised through the Fresh Issue for repayment or pre-payment of certain loans granted by certain banks and financial institutions; and general corporate purposes.

, , HDFC Bank Limited, IIFL Holdings Limited, IndusInd Bank Limited and Nomura Financial Advisory and Securities (India) Private Limited are the book running lead managers.

As of March 31, 2018, the AGS Transact is the second largest company in India in terms of number of ATMs managed, revenue from ATM managed services and number of ATMs provided with cash management services, and the fourth largest company in India in terms of revenue from cash management.

The equity shares will be listed on BSE and NSE.

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