The first IPO of the year 2022 will open for subscription tomorrow, preparing to raise Rs 680 crore from the market

Upcoming IPO / The first IPO of the year 2022 will open for subscription tomorrow, preparing to raise Rs 680 crore from the market
Upcoming IPO - The first IPO of the year 2022 will open for subscription tomorrow, preparing to raise Rs 680 crore from the market
Last year 2021 saw the beginning of IPO and this year also many big IPOs are ready to knock. In this sequence, the IPO of payment related services provider AGS Transact Technologies will open for subscription from tomorrow. This will be the first IPO of the year.

Investment opportunity till January 21

The Initial Public Offer (IPO) of AGS Transactions will open for subscription on January 19 and close on January 21. The company has fixed the price band of this IPO at Rs 166 to Rs 175 per share. Anchor investors will be able to bid today on January 18. The first issue to be listed on the new year i.e. 2022 is the Offer for Sale (OFS) made solely for the sale of shares by the promoter and other shareholders. Earlier, the firm had reduced the size of its IPO from Rs 800 crore to Rs 680 crore.

Listing likely on February 1

It is worth noting that before this, the company AGS Transact Technologies had applied for IPO thrice. Now finally, the company's IPO is going to open for subscription. According to experts, AGS shares are trading at a premium (GMP) of Rs 18 in the gray market. The shares of the company are expected to be listed on BSE and NSE on February 1, 2022.

Provides services to banks-corporate

AGS Transact Tech is the integrated omni-channel payment solutions provider in the country providing digital and cash linked services to banks and corporates. It provides customized products and services such as ATM and Cash Recycler Machine (CRM) outsourcing and cash management. Apart from this, it also provides digital payment solutions like merchant solutions, transaction processing services and mobile wallets. As of March 2021, the company has installed 2,07,335 payment terminals in the country.

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