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All that you should know about the Company before applying for the IPO.

January 18, 2022     

The public issue of equity shares of AGS Transact Technologies Limited will open for subscription on January 19, 2022 and closes on January 21, 2022. It is expected to list on the stock exchanges on February 01, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.

Company Profile

Established in 2002, the Company is one of the largest integrated omni-channel payment solutions providers in India in terms of providing digital and cash-based solutions to banks and corporate clients, as of 31-Mar-2021. It is the second largest company in India in terms of (i) revenue from ATM managed services under the outsourcing model, and (ii) revenue from cash management and number of ATMs replenished, as of 31-Mar-2021.

The Company operates its business in 3 segments:

  • Payment Solutions – It comprises ATM and CRM outsourcing and managed services, cash management services, iCDs, digital payment services which include toll and transit solutions, Fastlane, transaction switching services, services through POS machines and agency banking.
  • Banking Automation Solutions – It comprises sale of ATMs and CRMs, currency technology products and self-service terminals and related services and upgrades.
  • other Automation Solutions – It encompasses the sale of machines and related services to customers in the retail, petroleum and colour segments (e.g., supply of automatic paint dispensers and related services)

It has installed, maintained or managed a network of approximately 72,000 ATMs and CRMs, provided cash management services to 46,214 ATMs through its subsidiary, installed 221,066 merchant POS and approximately 46,800 cash billing terminals, automated approximately 17,924 petroleum outlets and installed approximately 88,521 colour dispensing machines, as of 31-Aug-2021.

It has expanded internationally to offer automation and payment solutions to banks and financial institutions in other Asian countries comprising Sri Lanka, Singapore, Cambodia, Philippines and Indonesia. Some of its key customers include; ICICI Bank, Axis Bank, HDFC Bank, HPCL, Indian Oil, Patanjali Ayurved, Asian Paints, Berger Paints.

Who are the Promoters of the Company?

Mr. Ravi B. Goyal and Vineha Enterprises Private Limited

Positives about the Company

  • 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
  • Experienced Board of Directors and Senior Management

Who are its key competitors?

There are no listed peers in India

Why is the Company going public?

The Offer is a 100% Offer for Sale issue. The Company will not receive any proceeds from the Offer for Sale and all proceeds from the Offer will go to the Selling Shareholders.

IPO Details

IPO Size ₹ 680 Crore
Offer Mix 100% Offer For Sale
Price Band ₹ 166 - ₹ 175
Lot Size 85 Shares (& in multiples thereof)
Face Value ₹ 10
Application Amount Min. ₹ 14,875 (1 lot) | Max. ₹ 1,93,375 (13 lots) [at upper price band]
Listing on NSE & BSE
Registrar Link Intime India Private Limited
Cut-off time for UPI Mandate Confirmation 24-Jan-2022 (up to 12:00 PM)

Category Wise Availability

QIB ₹ 340 Crore
(50% of Issue Size)
NIB ₹ 102 Crore
(15% of Issue Size)
Retail ₹ 238 Crore
(35% of Issue Size)

Indicative Issue Timeline

Activity Date
IPO Opens January 19, 2022
IPO Closes January 21, 2022
Finalization of the basis of allotment January 27, 2022
Unblocking of funds / Initiation of refunds January 28, 2022
Credit of equity shares to Demat accounts January 31, 2022
Listing of equity shares February 01, 2022
Source: Company RHP
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