The shares of AGS Transact Technologies will start listing on the stock exchanges one day earlier, on January 31, tomorrow. The company suggested the listing date of February 1 as the Union Budget, the biggest event of the year, is scheduled for that day. This would be the first listing of 2022. According to the BSE notice: “From Monday 31 January 2022, the shares of AGS Transact Technologies Limited will be listed and admitted to trading on the exchange in the list of ‘B’ Group of Securities.” “Further, trading members can note that the above script will be part of the Special Pre-open Session (SPOS) on Monday, January 31, 2022,” added BSE.
AGS Transact Technologies IPO: Subscription Status
The first public offer was subscribed for 7.79 times in the course of January 19-21, with a good participation of all kinds of investors. Non-institutional investors had bid 25.61 times their reserved share, while qualified institutional and retail investors were booked 2.68 times and 3.08 times, respectively.
AGS Transact Technologies IPO: GMP Before Listing
According to market observers, shares of AGS Transact Technologies are available at a premium of Rs 5 in the gray market, reflecting the muted listing of the public offering. Since the IPO GMP of AGS Transact Technologies today is Rs 5, it means that the gray market expects AGS Transact Technologies share to quote around 180 (Rs 175 + Rs 5), which corresponds to the price range of Rs 166 to Rs. 175 per share share.
AGS Transact Technologies IPO: What Are Analysts Saying?
“AGS Transact Technologies will be the first company to be listed on the stock exchange in calendar year 2022. The IPO seemed richly priced, resulting in a lackluster response to its offer. The top and bottom line growth is missing. In addition, broader markets have undergone profound corrections, which could affect the listing. I expect the stock to debut in a flat fashion around the issue price,” Abhay Doshi, founder of UnlistedArena.com, trading pre-IPO and unlisted stocks.
“Market sentiments have turned negative and this could affect the listing,” said Jay Prakash Gupta, founder of Dhan.
Moreover: “it is for sale and the proceeds of the IPO will go to the initiators. The company had positive free cash flow, free cash flow and still the debt is on the book, which is worrying,” he adds.
AGS Transact Technologies is one of the leading market players in ATM management, with a strong pan-Indian network and a long-standing relationship with customers. It has an integrated business platform that provides a diversified product portfolio and strong internal infrastructure and technology capabilities. AGS Transact recorded a loss of Rs 18.1 crore on a turnover of Rs 753.4 crore for a period of five months ended 31 August 2021. The profit in the year FY21 at Rs 54.79 crore has decreased from Rs 83 .01 crore of profit recorded in the previous year, and sales in the same period also fell to Rs 1,758.94 crore compared to Rs 1,800.44 crore.
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