AGS Transact Technologies Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹175
Per ShareLot Size
85 Shares
Minimum Investment
₹14,875
Issue Size
₹680 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
AGS Transact Technologies Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
97.61%
Promoter Holding (Post-Issue)
97.61%
Issue Type
Book Building
ISIN
INE583L01014
About the Company
AGS Transact Technologies Limited was one of the largest integrated omni-channel payment solutions provider in India in terms of providing digital and cash-based solutions to banks and corporate clients, as of March 31, 2021. The Company provides customised products and services comprising ATM and CRM outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets. As of March 31, 2021, the company was the second largest company in India in terms of revenue from ATM managed services under the outsourcing model, and revenue from cash management and number of ATMs replenished.
Industry Overview
Cash payment transactions, and consequently, the demand for ATMs, CRMs and related services, is expected to continue to grow due to, among others, GoI initiatives such as Direct Benefit Transfer and PMJDY. At the same time, the launch of new and innovative payment products, increased demand for cashless transactions due to the COVID-19 pandemic, increasing smartphone adoption, a growing need for faster payment modes and a strong push from the GoI and regulators towards adoption of digital channels have driven the increase in digital payments.
Company History
AGS Transact Technologies Limited was incorporated in Mumbai, Maharashtra on December 11, 2002 as AGS Infotech Private Limited, a private limited company under the Companies Act, 1956. The name of the Company was subsequently changed to AGS Transact Technologies Private Limited and the Registrar of Companies, Maharashtra issued a fresh certificate of incorporation dated June 3, 2010. The Company was then converted into a public limited company and consequently, its name was changed to AGS Transact Technologies Limited and the Registrar of Companies, Maharasht ra issued a fresh certificate of incorporation dated July 20, 2010.
Products & Services
- The Company provides end-to-end cash and digital payment solutions and technology for the banking, retail, petroleum, e-commerce and fintech sectors in India, Sri Lanka, Singapore, Cambodia, Philippines and Indonesia.
Growth Strategy
- Focus on Growing our Digital Payment Solutions Business
- Pivot from Payments-as-a-Service to Payments-as-a-Convenience through its Ongo Card and Ecosystem
- Focus on Automated Teller Machines (ATM) and Cash Recycler Machines (CRM) Outsourcing and Managed Services
- Focus on Enhancing its Integrated Technology Payments Platform
- Focus on Cash Management Services
- Expand Internationally
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY22 to FY24.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 38,857,141^ equity shares of face value of Rs. 10 each (The "Equity Shares") of AGS Transact Technologies Limited (The "Company" or the "Company" or the "Issue"") for cash at a price of Rs. 175 per equity share (including a premium of Rs. 165 per equity share) aggregating to Rs. 680.00 crores (The "Offer") through an offer for sale of 38,718,857^ equity shares by Mr. Ravi B. Goyal (The "Promoter Selling Shareholder") aggregating to Rs. 677.58 crores, 43,600^ equity shares aggregating to Rs. 0.76 crores by Mr. V.V. Gupte, 34,114^ equity shares aggregating to Rs. 0.60 crores by Mr. Shailesh Shetty, 26,514^ equity shares aggregating to Rs. 0.46 crores by Mr. Rakesh Kumar, 17,028^ equity shares aggregating to Rs. 0.30 crores by Mr. Nikhil Patiyat and 17,028^ equity shares aggregating to Rs.0.30 crores by Mr. Rajesh Harshedrai Shah (collectively, the "Other Selling Shareholders", and together with the promoter selling shareholder, the "Selling Shareholders", and such equity shares offered by the selling shareholders, the "Offered Shares"). The offer constitutes 32.28% of the paid-up equity share capital of the company. The face value of the equity shares is Rs. 10 each, the offer price is Rs. 175 and the offer price is 17.5 times the face value of the equity shares. ^Subject to finalization of the basis of allotment. Bid can be made for minimum of 85 equity shares and in multiples of 85 equity shares thereafter.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Omni-Channel Integrated Payment and Cash Solutions Provider
- Customer Driven Portfolio with Strong Capabilities to Develop Customized Solutions In-house
- Diversified Product Portfolio, Customer Base and Revenue Streams Leading to Cross-Selling Opportunities
- Long-Standing Relationships with Technology Providers and Customers
- Dedicated In-house Infrastructure and Technological Capabilities
- The COVID-19 pandemic has had and may continue to have certain adverse effects on its business, operations, cash flows and financial condition. The continuing impacts of COVID-19 are unpredictable and could be significant, and the extent to which it or the effect of outbreaks of any other severe communicable disease may continue to do so in the future is uncertain and cannot be predicted.
- The company derive a significant portion of its revenues from its customers in the banking sector in India. Consequently, any adverse development in the growth of the number of ATMs or the usage of ATMs in India could have an adverse effect on its business, results of operations, cash flows and financial condition.
- The company derive a substantial portion of its revenues from a limited number of customers. If one or more of its top customers were to suffer a deterioration of their business, cease doing business with the company or substantially reduce its dealings with the company, its revenues could decline, which may have an adverse effect on its business, results of operations, cash flows and financial condition.
- The company undertake fee-based activities and its financial performance may be adversely affected by an inability to generate income from such activities.
- The company rely on consumers using one or more of our services, and are thus vulnerable to changes in consumer preferences and behaviour that could adversely affect its profitability and financial condition.