AGS Transact Technologies IPO gets 1.42 times subscription on second day of offer
The initial public offering of AGS Transact Technologies got subscribed 1.42 times on Thursday, the second day of the offer. This is the first Initial Public Offering (IPO) in 2022.
The categories for Retail Individual Investors (RIIs) and for Non Institutional Investors have been oversubscribed.
The payment solutions provider has offered to sell 2,86,74,696 shares through the IPO and as many as 4,05,74,240 bids were received on the second day. This reflects a subscription of 1.42 times, according to latest data available with the BSE.
The portion for RIIs received 2.06 times subscription, with 2,96,04,140 bids as against 1,43,37,348 shares on offer.
In the case of Non Institutional Investors’ category, the subscription stood at 1.13 times with a total of 69,57,930 bids while the number of shares for sale is 61,44,578.
The quota for Qualified Institutional Buyers (QIBs) was subscribed 49 per cent on the second day.
On Monday, AGS Transact Technologies raised Rs 204 crore from anchor investors.
The IPO is fully an Offer For Sale (OFS) of equity shares worth Rs 680 crore by promoter and other selling shareholders. The price band for the offer has been fixed at Rs 166-175 per share.
ICICI Securities, HDFC Bank and JM Financial are the managers to the offer.