Omni-channel payment solutions provider AGS Transact Technologies Ltd on Friday filed draft red herring prospectus with the capital markets regulator Securities and Exchange Board of India (Sebi) to launch an initial public offering.
The company plans to garner Rs 800 crore through its public offer, which is entirely an offer for sale by existing selling shareholders.
AGS Transact Technologies 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 31 March, AGS 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, the company said in its draft IPO papers. As of 31 March, it has deployed 207,335 payment terminals.
The company reported revenue from operations Rs 1,758.9 crore, Rs 1,800.4 crore, and Rs 1,805.7 crore for the financial years 2021, 2020, and 2019, respectively.
Promoters of the company are Ravi B Goyal and Vineha Enterprises – together they hold 97.61 per cent stake in the company. AGSTTL Employees Welfare Trust has 1.51 per cent shareholding.
ICICI Securities, HDFC Bank and JM Financial are appointed as the book running lead managers to the issue. The equity shares will be listed on BSE and NSE.
