AGS Transact Tech IPO: The IPO of payment solution company AGS Transact Technologies will open for subscription on Wednesday, January 19 this week. Retail investors will be able to invest in this IPO till January 21. At the same time, the bidding for anchor investors will open on January 18. The company has fixed a price band of Rs 166-175 per share (AGS Transact Tech IPO price) band) for this issue. Let us tell you that this is the first IPO of the year 2022. If you are also thinking of investing money in the first IPO of the year, then let’s know about it in detail.

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 This IPO is worth Rs 680 crores

Earlier this IPO was worth Rs 800 crore, which has now become Rs 680 crore. Recently the company has reduced the size of its public issue from ₹800 crores to ₹680 crores as per the earlier plan. The firm has fixed a price band of Rs 166-175 for the IPO. If we talk about lot size then it has 85 shares. This means that Rs 14,875 will have to be spent for the IPO of one lot. A retail individual investor can apply for 13 lots or up to 1,105 shares by spending Rs 193,375.

Listing can happen on this day

The allotment of shares is likely to be finalized on January 27 and its listing may take place on February 1. The equity shares of the company will be listed on BSE and NSE. Ravi B Goel and Vineha Enterprises are the promoters of AGS Transact Technology. Together, they hold a 97.61 percent stake in the company. Apart from this, the shareholding of AGSTTL Employees Welfare Trust is 1.51 percent. ICICI Securities, HDFC Bank, and JM Financial are the book-running lead managers for this IPO.

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What’s going on in the gray market?

According to market experts, shares of AGS Transact Tech are trading at a premium (GMP) of Rs 18 in the gray market today. Regarding the issue, Abhay Doshi, founder, Unlisted Arena, says, “The economic activities were sluggish due to the Corona epidemic, due to which the company’s growth was low. The issue price has been fixed at 38 times PE multiple based on FY21 earnings. Based on this, the IPO of AGS Transact Tech may get a mixed response.