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AGS Transact IPO may open on January 19; Stocks rise 68% in unlisted market

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New Delhi: AGS Transactions Technologies is set to become the first mainboard IPO of 2022 as the company looks to start its initial stake sale next week.

According to sources, the IPO of AGS Transact Technologies may hit the primary market on Wednesday, January 19. However, could not confirm this.

Dinesh Gupta, co-founder of UnlistedZone, said the company is trading around Rs 170-175 in the pre-IPO market. He expects the IPO price to be in the range of Rs 175-200 per share.

AGS Transact, an active counter in the unlisted region, has been in hibernation ever since it recovered sharply from its Rs 550 peak.

Sunil Chandak, Equity Strategist, GenNext Invested, said, “AGS Transact shares have suffered heavy losses following the poor performance of recently listed fintech companies including Paytm, Fino Payments Bank, CMS Info Systems.”

The company is one of the leading omni-channel payment solutions providers in India. It primarily operates in three business segments, which include payment solutions, banking automation solutions, and other automation solutions. It is the second largest company in India in terms of revenue from ATM managed services and is also the largest employer of POS terminals at petroleum outlets in India.

Over the counter dealers in the listed market have mixed opinions. Some of them are suggesting investors to keep it away while others believe that the stock is a good value at current levels.

Gupta said, “Due to its weak financial position, the counter has received a sluggish response. Instead of buying locked-in shares from an unlisted position, investors should look for other opportunities.”

On the contrary, Chandak believes that the company has a very strong business model and the current prices are a good entry point for buyers. “One has to look at the leverage of the company,” he said.

AGS Transact has a network of 207,335 merchant POS, 16,700 petroleum outlets, 72,000 ATMs and CRMs that provide cash management services, 46,000 cash billing terminals, and installed 85,700 color dispensing machines at the end of FY15.

The business serves customers in 2200 cities and towns through 420,000 machines or customer touchpoints. It reported a net profit of Rs 54.79 crore and revenue of Rs 1,797.15 crore for the financial year ended March 31, 2021.



Hassaan Minhas

Hassaan is a journalist at and he deals with Latest News, India News, and Tech News. Hassaan is a very professional and authentic news journalist.

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