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AGS Transact Tech plans for IPO

Tanay Loya
/ Categories: Trending, Markets
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AGS Transact Technologies has filed its draft red herring prospectus (DRHP) with the market regulator SEBI for an initial public offer (IPO).

The company aims to accumulate Rs. 1,000 crore through the IPO. The offer comprises a fresh issue of upto Rs. 400 crore and an offer for sale upto Rs. 600 crore by promoter and other selling shareholders.

The company plans to utilise the proceeds for repayment of certain loans and for general corporate purposes.

AGS Transact Technologies is one of the leading providers of end-to-end cash and digital payment solutions and automation technology in the country. The company provides customised products and services comprising ATM outsourcing and cash management, as well as digital payment solutions.

ICICI Securities, Axis Capital, HDFC Bank, IIFL Holdings, IndusInd Bank and Nomura Financial Advisory are the book running lead managers to the issue.

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