The initial public offer (IPO) of AGS Transact Technologies received bids for 4,05,74,240 shares as against 2,86,74,696 shares on offer, according to stock exchange data at 17:00 IST on Thursday (20 January 2022). The issue was subscribed 0.99 times.

The issue opened for bidding on 19 January 2022 and it will close on 21 January 2022. The price band of the IPO is fixed at Rs 166-175. An investor can bid for a minimum of 85 equity shares and in multiples thereof.

The IPO comprises an offer for sale aggregating up to Rs 680 crore. Post issue, the promoter shareholding will decline to 66.07% from 98.23%.

The company expects to receive the benefits of listing of the equity shares, including to enhance visibility and brand image among existing and potential customers.

Ahead of the IPO, AGS Transact Technologies on 18 January 2022, finalized allocation of 1,16,57,141 equity shares to anchor investors at an allocation price of Rs 175 per share, aggregating to Rs 204 crore.

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