Mumbai, January 15, 2022: AGS Transact Technologies Limited (“AGS” or the “Company”), plans to open its Initial Public Offering (the “Offer”) on January 19, 2022.
The Price Band of the Offer has been fixed at ₹166 to ₹175 per Equity Share of face of ₹10 each (the “Equity Shares”). Bids can be made for a minimum of 85 Equity Shares and in multiples of 85 Equity Shares thereafter.
The Offer consists Equity Shares of face value of ₹10eachofAGS Transact Technologies Limited aggregating up to ₹6,800million (the “Offer”) through an offer for sale of Equity Shares by Mr. Ravi B. Goyal (the “Promoter Selling Shareholder”) aggregating upto ₹6,775.80 million, Equity Shares aggregating up to ₹7.63 million by Mr. V.C. Gupte, Equity Shares aggregating up to ₹5.97 million by Mr.ShaileshShetty, Equity Shares aggregating up to ₹4.64 million by Mr. Rakesh Kumar, Equity Shares aggregating up to ₹2.98 million by Mr. Nikhil Patiyat and Equity Shares aggregating up to ₹2.98 million by Mr. Rajesh HarshedraiShah (collectively, the “Other Selling Shareholders”).
The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”) read with Regulation 31 of the SEBI ICDRRegulations, and in compliance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the“QIB Portion”), provided that the Company and the Promoter Selling Shareholder may, in consultation with the BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis inaccordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Fundsat or above the Anchor Investor Allocation Price. Further, 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds, and theremainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price.However, if the aggregate demand from the Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation will be added to the remaining QIB Portion for proportionateallocation to QIBs.
Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders, subject to valid Bids being received at or above the Offer Price. All potential Bidders, other than Anchor Investors, are required to mandatorily utilize the Application Supported by BlockedAmount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID (in case of Retail Individual Bidders) if applicable, in which the corresponding Bid Amounts will be blocked by the self-certifiedsyndicate banks (“SCSBs”) or under the UPI Mechanism, as applicable, to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.
The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”) post the listing.