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  • Venus Pipes IPO absolutely subscribed inside hours of opening: Here’s the whole lot you should know

    Venus Pipes IPO: The preliminary public providing (IPO) of Venus Pipes and Tubes opened for subscription on Wednesday, May 11, 2022. The provide bought absolutely subscribed inside just a few hours of the opening and by the top of the primary day of bidding, it was subscribed 2.37 instances.

    It obtained whole bids for 84,13,860 shares throughout each the inventory exchanges towards 35,51,914 shares on provide, information from National Stock Exchange (NSE) confirmed.

    The Rs 165.41 crore Venus Pipes IPO can be out there for subscription until Friday, May 13, 2022, and the value band of the corporate has been fastened at Rs 310-326 per share.

    The IPO of the Gujarat-based chrome steel pipes and tubes firm is totally a contemporary subject comprising a sale of fifty.74 lakh (50,74,100) fairness shares and there’s no offer-for-sale (OFS) portion. The complete proceeds from the problem can be used for financing the venture price in the direction of capability enlargement and backward integration for manufacturing of hole pipes, meet working capital necessities and for common company functions, in keeping with the main points given within the pink herring prospectus (RHP).

    Venus Pipes and Tubes is a Gujarat-based chrome steel pipes and tubes producer and exporter having about six years of expertise within the manufacturing of chrome steel tubular merchandise in two broad classes – seamless tubes/pipes and welded tubes/pipes. Under the model identify Venus, it provides its merchandise for purposes in various sectors together with chemical substances, engineering, fertilizers, prescribed drugs, energy, meals processing, paper and oil and fuel.

    Investors who want to subscribe to Venus Pipes IPO can bid in numerous 46 fairness shares and multiples thereafter. At the higher value band, they are going to be shelling out Rs 14,996 to get a single lot of Venus Pipes and Tubes. The shares can be listed on each BSE in addition to the National Stock Exchange (NSE).

    The candidates additionally should observe that the cut-off time for UPI mandate affirmation is Tuesday, May 17, 2022, upto 12:00 pm. If they fail to take action then their utility will not be thought-about.

    SMC Capitals is the e book operating lead supervisor to the provide whereas Kfin Technologies is the registrar of the problem.

    Before heading into the IPO, Venus Pipes and Tubes on Tuesday raised over Rs 49 crore (Rs 49,62,32,636) from three anchor buyers in lieu of 15,22,186 fairness shares at Rs 326 every, information from the inventory exchanges confirmed.

    The anchor buyers comprise of Nippon India Small Cap Fund, Kotak Mahindra Life Insurance Company and India SME Investments – Fund I.

    The analysis crew at Anand Rathi Share and Stock Brokers in its IPO observe gave an “Avoid” suggestion to the provide.

    Anand Rathi Research in its report famous, “The company is available at the upper end of the IPO price band at 21x its FY22 annualized earnings attributable to post issue equity demanding a market cap of Rs 6,617 million. At the upper end of the IPO price band, the issue is priced at a P/BV of 10.7x based on its NAV of Rs 30.5 as of March 31, 2021. The Company has delivered good growth in Sales over past few years along with increasing margin profile. However, Venus faces competition from its peers who hold substantial market share in the SS pipes and tubes market. When compared to its listed peers, Venus seems to be richly priced. We recommend an “Avoid” ranking to this IPO.”

    The share allotment is prone to happen on Thursday, May 19, 2022, and the shares are anticipated to be listed on Tuesday, May 24, 2022, in keeping with the timeline given within the RHP.

  • Delhivery IPO opens at the moment: Here’s the whole lot you must know

    Delhivery IPO: The preliminary public providing (IPO) of provide chain agency Delhivery will open for subscription at the moment, May 11, 2022. The Rs 5,235 crore Delhivery IPO can be accessible for public subscription until Friday, May 13, 2022, and the value band of the corporate has been mounted at Rs 462-487 per share with a face worth of Re 1 per share.

    The IPO dimension of Delhivery has been lowered from Rs 7,460 crore to Rs 5,235 crore. The firm had filed its draft prospectus in November final 12 months.

    Delhivery is a Gurugram-based firm that gives a full vary of logistics companies together with specific parcel supply, heavy items supply, warehousing, provide chain options, cross-border specific and freight companies and provide chain software program, together with worth added companies similar to e-commerce return companies, fee assortment and processing, set up and meeting companies. It operates a pan-India community and in line with the knowledge given within the crimson herring prospectus (RHP), it gives companies in 17,488 PIN codes within the nation as of the quarter ended December 2021.

    The Delhivery IPO contains a contemporary situation of fairness shares value Rs 4,000 crore and an offer-for-sale (OFS) of Rs 1,235 crore by the prevailing shareholders.

    Under the OFS, traders Carlyle Group and SoftBank in addition to the corporate’s co-founders will divest their shareholding.
    CA Swift Investments, an entity of Carlyle Group, will promote shares amounting as much as Rs 454 crore, SVF Doorbell (Cayman) Ltd, an arm of Softbank Group, will offload shares value Rs 365 crore, Deli CMF Pte Ltd, an entirely owned subsidiary of personal fairness fund China Momentum Fund, will promote shares value Rs 200 crore and Times Internet will promote shares value Rs 165 crore.

    Apart from the traders, the corporate’s co-founders – Kapil Bharati, Mohit Tandon and Suraj Saharan – can be promoting their shares amounting as much as Rs 5 crore, Rs 40 crore and Rs 6 crore respectively.

    The proceeds from the contemporary situation can be used for funding natural progress initiatives – constructing scale in present enterprise strains and creating new adjoining enterprise strains, increasing community infrastructure, upgrading and bettering its proprietary logistics working system. Apart from this, the proceeds may even be used for funding inorganic progress by way of acquisitions and different strategic initiatives and for common company functions, in line with the RHP.

    In the provide, 75 per cent has been reserved for certified institutional traders, 15 per cent for non-institutional traders and the remaining 10 per cent is accessible for the retail traders. Additionally, Delhivery has put aside shares value Rs 20 crore for its workers, who will get a reduction of Rs 25 per share throughout the public providing.

    Investors who want to subscribe to Delhivery IPO can bid in lots of 30 fairness shares and multiples thereafter. At the higher value band, they are going to be shelling out Rs 14,610 to get a single lot of Delhivery. The shares can be listed on each BSE in addition to the National Stock Exchange (NSE).

    The candidates additionally should be aware that the cut-off time for UPI mandate affirmation is Tuesday, May 17, 2022, upto 12:00 pm. If they fail to take action then their software is probably not thought of.

    Morgan Stanley India, Kotak Mahindra Capital, BofA Securities India and Citigroup Global Markets India are the guide working lead managers to the provide whereas Link Intime India is the registrar of the problem.

    Before heading into the IPO, Delhivery on Tuesday raised almost Rs 2,347 crore (Rs 23,46,74,87,820) from 64 anchor traders in lieu of 4,81,87,860 fairness shares at Rs 487 every, knowledge from the inventory exchanges confirmed.

    The anchor traders embody the likes of AIA Singapore, Amansa Holdings, Aberdeen New India Investment Trust Plc, Goldman Sachs, The Master Trust Bank of Japan, Government of Singapore, Monetary Authority of Singapore, Fidelity, Tiger Global Investments Fund, Steadview Capital Master Fund, Morgan Stanley Asia (Singapore) Pte, Societe Generale and Segantii India Mauritius amongst others.

    Speaking concerning the Delhivery IPO, Ravi Singh, Vice President and Head of Research at Share India Securities informed indianexpress.com, “Delhivery has posted continuous losses and its IPO is priced with a negative P/E. Even if we consider its improving adjusted EBITDA margins, Delhivery will take time to turn the corner. The IPO is also priced very aggressively and we recommend investors to stay away from this IPO.”

    Amit Pamnani, Chief Investment Officer at Swastika Investmart stated, “We at Swastika Investmart provide moderate rating of 3-star to Delhivery IPO, since listing gain may not be much, investors’ amount is also blocked in LIC IPO and overall market sentiments are feeble. Hence, high risk bearing investors can bet for long term.”

    He defined that the brokerage gives a star-based ranking on a scale of 1-5 (the place 1 being poor and 5 means glorious). So a 3-star ranking means a median IPO. “Company’s business prospects looks bright however due to non-profitability and asset light model there are high risk factors.”

    Speaking on what a brand new investor ought to do, Pamnani stated “A newbie or common retail investors can avoid for now, they can follow wait and watch strategy until one month of listing.” He additional famous that solely well-informed and high-risk urge for food traders ought to guess for a long-term perspective.

    The share allotment is prone to happen on Thursday, May 19, 2022, and the shares are anticipated to be listed on Tuesday, May 24, 2022, in line with the timeline given within the RHP.

  • Foreign buyers shun LIC IPO over market dangers

    Foreign institutional buyers have on the entire steered away from India’s greatest share sale, deeming it too costly given forex dangers and the worldwide market backdrop.

    With simply hours to go till the tip of the subscription interval for the $2.7 billion preliminary public providing of Life Insurance Corporation of India, international institutional funds have put in orders for merely 8% of the shares put aside for all institutional consumers.

    While the anchor portion of the IPO drew in sovereign funds from Norway and Singapore, many of the shares went to home mutual funds.

    “Foreign institutional investors have been pulling out heavily in the secondary market since October. The Fed rate hike and the recent slide in the rupee against the dollar further enhances risks of currency depreciation that can erode their asset price gains in India,” mentioned Vidya Bala, head of analysis and co-founder at Chennai-based Primeinvestor.in.

    “So there is little reason for them to participate in an IPO, large as it may be.”

    Source: Bloomberg

    Dubbed India’s “Aramco moment” in reference to Gulf oil large Saudi Arabian Oil Co.’s $29.4 billion itemizing in 2019 — the world’s largest — the float of LIC has ended up resembling the Aramco IPO not simply in scale however in its reliance on home buyers after international consumers deemed the float too costly.

    LIC has been in search of to drum up curiosity with newspaper ads because the begin of the 12 months, in search of to reap the benefits of a retail funding growth in India.

    India’s authorities had lower the fundraising of the IPO by about 60% because the battle in Ukraine roiled markets, denting danger urge for food, whereas rising U.S. rates of interest are placing international buyers off rising market shares. It additionally lower the valuation it’s in search of for the nation’s oldest insurer, which might be price 6 trillion rupees ($78 billion) on the prime of the worth vary.

    Locals Pile In

    While international buyers have shunned the deal, retail consumers have been piling in. Policyholders positioned bids for over 5 occasions the shares reserved for them, whereas the worker portion obtained orders for 4 occasions the quantity accessible, inventory alternate information confirmed. Retail buyers and policyholders obtain reductions on the supply worth.

    Overall, the IPO has obtained orders for double the shares on supply, whereas the tranche for institutional buyers is now totally offered.

    The muted worldwide investor curiosity stands in sharp distinction to a few of final 12 months’s Indian IPOs. One97 Communications Ltd., which operates digital funds agency Paytm, drew within the likes of BlackRock Inc., Canada Pension Plan Investment Board and Teacher Retirement System of Texas, amongst many others, for its 183 billion rupee share sale final 12 months. Food supply platform Zomato Ltd. was equally widespread amongst international buyers.

    However these consumers have been left nursing losses as enthusiasm over India’s tech growth waned after some flops. Paytm sank 27% on its debut and is now buying and selling 74% beneath its supply worth. Zomato had a powerful debut final summer season however has since misplaced 20% in worth.

    Investors have additionally had issues about LIC’s means to maintain market share as personal insurers like HDFC Life Insurance Co. Ltd. and SBI Life Insurance Co. Ltd. develop. The personal sector has been on an aggressive growth spree in the course of the pandemic, rising new particular person coverage premiums whereas LIC struggles.

    “Foreign institutional investors generally, have never been big on state-run companies as it is very difficult to make money off them,” mentioned Abhay Agarwal, fund supervisor Piper Serica Advisors Ltd. “For LIC too the government was unable to convincingly communicate to global investors that the insurer will prioritize the interest of shareholders and won’t function merely as a government entity.”

  • LIC IPO Live Updates: Action resumes on Day 3; complete subject subscribed 1.06 instances

    The LIC subject was subscribed 1.06 instances, NSE information at 10:15 am confirmed. The policyholders section was subscribed 3.21 instances whereas the staff portion was subscribed 2.29 instances, the info confirmed. Apart from these, the certified institutional consumers (QIBs) was subscribed 0.40 instances, the non institutional traders was subscribed 0.48 instances and the retail section was subscribed 0.97 instances, the info confirmed.

    The LIC IPO might be accessible for public subscription until Monday, May 9, 2022. The value band of LIC IPO is mounted at Rs 902-949 per share and the corporate is providing a reduction of Rs 60 per share for its policyholders and Rs 45 apiece for retail traders and LIC staff.

  • LIC IPO: Day 1, 67% booked, workers and policyholders oversubscribe quota

    The mega preliminary public providing (IPO) of Life Insurance Corporation (LIC) acquired a powerful response from traders with 67 per cent of the shares getting offered out on Wednesday, the primary day of bidding, regardless of the inventory market plunging 2.29 per cent after the Reserve Bank of India hiked rates of interest.

    LIC policyholders led the subscription checklist, with their quota subscribed 1.99 occasions (199 per cent). The portion for workers was subscribed 117 per cent. The retail traders portion, in the meantime, was subscribed 60 per cent, in accordance with inventory change information.

    While 2.21 crore shares had been allotted for policyholders, there have been bids for 4.40 crore shares. Employees bid for 18.53 lakh shares towards their quota of 15.81 lakh shares.

    The first day’s response from traders for the IPO has been sturdy regardless of the RBI’s price hike which got here after the market opened. The 1,307-point Sensex fall didn’t have an effect on the IPO a lot, analysts stated.

    Non-institutional traders subscribed 27 per cent of their portion whereas certified institutional patrons (QIBs) purchased 33 per cent of their allotted quota of three.95 crore shares. QIBs usually put of their bids on the final day of the IPO, funding bankers stated.

    Overall, there have been bids for 10.86 crore shares as towards the overall IPO measurement of 16.20 crore shares on the primary day, exchanges stated. The concern will shut on May 9.

    The company has priced the IPO within the vary of Rs 902-949 per share. It has supplied a reduction of Rs 60 for policyholders and Rs 45 for retail traders and workers. The measurement of the IPO was lower from Rs 65,000 crore to Rs 21,000 crore because the Russian invasion of Ukraine and sustained promoting by overseas traders despatched the inventory markets right into a tailspin.

    Domestic mutual funds invested Rs 4,002.27 crore, accounting for 71.12 per cent of the overall anchor ebook portion of the IPO. SBI Mutual Fund invested Rs 1,006.89 crore, turning into the biggest investor within the anchor ebook quota.

    LIC mobilised Rs 5,627 crore from anchor traders on Monday. Four fairness schemes of SBI MF invested the quantity, with SBI Equity Hybrid Fund alone placing in Rs 518.99 crore, in accordance with information obtainable with exchanges.

    Seven schemes of ICICI Prudential Mutual Fund invested Rs 725 crore within the LIC IPO. HDFC Mutual Fund was allotted shares value Rs 525 crore. Aditya Birla Sun Life MF, Axis Mutual Fund, Kotak MF, L&T MF and Nippon India MF, amongst others, additionally invested within the anchor portion.

    Among overseas funds, BNP Investments LLC was allotted shares value Rs 449.99 crore. Govt Pension Fund Global of Norway invested Rs 224.99 crore. The authorities of Singapore invested Rs 151.67 crore and the Monetary Authority of Singapore put in Rs 38.32 crore.

  • LIC IPO: Day 1, 67% booked, workers and policyholders oversubscribe quota

    The mega preliminary public providing (IPO) of Life Insurance Corporation (LIC) acquired a robust response from traders with 67 per cent of the shares getting bought out on Wednesday, the primary day of bidding, regardless of the inventory market plunging 2.29 per cent after the Reserve Bank of India hiked rates of interest.

    LIC policyholders led the subscription checklist, with their quota subscribed 1.99 instances (199 per cent). The portion for workers was subscribed 117 per cent. The retail traders portion, in the meantime, was subscribed 60 per cent, in accordance with inventory trade knowledge.

    While 2.21 crore shares had been allotted for policyholders, there have been bids for 4.40 crore shares. Employees bid for 18.53 lakh shares towards their quota of 15.81 lakh shares.

    The first day’s response from traders for the IPO has been sturdy regardless of the RBI’s charge hike which got here after the market opened. The 1,307-point Sensex fall didn’t have an effect on the IPO a lot, analysts mentioned.

    Non-institutional traders subscribed 27 per cent of their portion whereas certified institutional patrons (QIBs) purchased 33 per cent of their allotted quota of three.95 crore shares. QIBs usually put of their bids on the final day of the IPO, funding bankers mentioned.

    Overall, there have been bids for 10.86 crore shares as towards the entire IPO dimension of 16.20 crore shares on the primary day, exchanges mentioned. The challenge will shut on May 9.

    The company has priced the IPO within the vary of Rs 902-949 per share. It has supplied a reduction of Rs 60 for policyholders and Rs 45 for retail traders and workers. The dimension of the IPO was lower from Rs 65,000 crore to Rs 21,000 crore because the Russian invasion of Ukraine and sustained promoting by overseas traders despatched the inventory markets right into a tailspin.

    Domestic mutual funds invested Rs 4,002.27 crore, accounting for 71.12 per cent of the entire anchor ebook portion of the IPO. SBI Mutual Fund invested Rs 1,006.89 crore, changing into the most important investor within the anchor ebook quota.

    LIC mobilised Rs 5,627 crore from anchor traders on Monday. Four fairness schemes of SBI MF invested the quantity, with SBI Equity Hybrid Fund alone placing in Rs 518.99 crore, in accordance with knowledge out there with exchanges.

    Seven schemes of ICICI Prudential Mutual Fund invested Rs 725 crore within the LIC IPO. HDFC Mutual Fund was allotted shares value Rs 525 crore. Aditya Birla Sun Life MF, Axis Mutual Fund, Kotak MF, L&T MF and Nippon India MF, amongst others, additionally invested within the anchor portion.

    Among overseas funds, BNP Investments LLC was allotted shares value Rs 449.99 crore. Govt Pension Fund Global of Norway invested Rs 224.99 crore. The authorities of Singapore invested Rs 151.67 crore and the Monetary Authority of Singapore put in Rs 38.32 crore.

  • LIC IPO Highlights: Total subject subscribed 1.03 occasions by finish of Day 2 led by policyholders and workers quota

    LIC IPO: Since the IPO is totally an OFS, all the web proceeds will probably be paid to the President of India (central authorities) and the life insurer won’t obtain any proceeds of the supply, in accordance with the data within the pink herring prospectus (RHP) of LIC. The shares will probably be listed on each BSE and NSE.

    LIC is the nation’s oldest and largest life insurance coverage agency. It was shaped by merging and nationalising 245 non-public life insurance coverage corporations on September 1, 1956, with an preliminary capital of Rs 5 crore. LIC now manages round Rs 40 lakh crore property and is the fifth-largest life insurer globally and the most important asset supervisor within the nation.

    At the top of the primary day of subscription, the difficulty was subscribed round 67 per cent (0.67 occasions). The section for policyholders and workers received oversubscribed 1.99 occasions and 1.17 occasions respectively. Apart from these two segments, Qualified institutional patrons (QIBs) quota was subscribed 0.33 occasions, non institutional buyers section was subscribed 0.27 occasions and the retail portion was subscribed 0.60 occasions.

  • Campus Activewear IPO opens on April 26: Here’s what it’s worthwhile to know

    Campus Activewear IPO: The preliminary public providing (IPO) of sports activities and athleisure footwear firm Campus Activewear will open on Tuesday, April 26, 2022. The provide comes with a value band of Rs 278-292 per share and shall be obtainable for subscription until Thursday, April 28, 2022.

    The public subject by the Delhi-based footwear maker is solely a proposal on the market (OFS) of 4.79 crore (4,79,50,000) fairness shares by promoters and present shareholders.

    Those promoting shares within the OFS embody promoters Hari Krishan Agarwal and Nikhil Aggarwal and different traders – TPG Growth III SF Pte Ltd, QRG Enterprises Ltd, Rajiv Goel and Rajesh Kumar Gupta.

    JM Financial, BofA Securities India, CLSA India and Kotak Mahindra Capital Company are the ebook operating lead managers to the provide whereas Link Intime India is the registrar of the difficulty.

    Before heading into the IPO, the bidding for anchor traders will open on Monday, April 25, 2022, as per the data supplied within the pink herring prospectus (RHP).

    The share allotment is prone to happen on Wednesday, May 4, 2022, and the shares are anticipated to be listed on Monday, May 9, 2022, in response to the timeline given within the RHP.

    Currently, the promoters personal over 23.8 crore (23,80,09,004) fairness shares which represents a 78.21 per cent stake of the footwear firm whereas TPG Growth and QRG Enterprises have 17.19 per cent and three.86 per cent stake respectively, the RHP information confirmed.

    The remaining 0.74 per cent stake is held by particular person shareholders and present workers.

    On itemizing, Campus Activewear will be a part of different listed footwear friends resembling Bata India, Relaxo Footwears, Khadim India, Liberty Shoes, Metro Brands and Mirza International.

    Campus Activewear in its RHP stated {that a} substantial rise in India’s working age inhabitants from 36 per cent in FY 2000 to 50 per cent in FY 2019 is predicted to proceed sustaining the expansion momentum of the Indian financial system and result in rising revenue ranges within the long-term.

    “The younger segment of the population is naturally pre-disposed to adopting new trends given their exposure to media and technology, which presents an opportunity for branded products and organized retail,” it famous.

  • Adani Wilmar IPO opens Jan 27: Here’s worth band, lot measurement and extra

    Adani Wilmar IPO: The Rs 3,600 crore preliminary public providing (IPO) of edible oil producer Adani Wilmar will open on Thursday, January 27, 2022, and will probably be obtainable for subscription until Monday, January 31, 2022. The worth band of the IPO has been mounted at Rs 218-230 per share of the face worth of Re 1 every.
    Adani Wilmar sells numerous cooking oils and different edible merchandise corresponding to wheat flour, soya merchandise, basmati rice and so forth. underneath the Fortune model, has minimize its IPO measurement to Rs 3,600 crore from Rs 4,500 crore deliberate earlier. It is a 50:50 three way partnership firm between Gautam Adani-led Adani group and Singapore’s Wilmar group.
    The IPO solely contains recent subject of fairness shares and there won’t be any secondary providing. The proceeds from the provide will probably be used for capital expenditure, reimbursement/prepayment of debt, funding strategic acquisitions and investments and basic company functions.
    Adani Wilmar is among the many main meals fast-moving shopper items (FMCG) firms within the nation with revenues of Rs 37,196 crore in monetary yr 2020-21 (FY21). It intends to develop its geographical presence within the edible oil sector and broaden the meals staples enterprise, FMCG and in addition worth added meals merchandise.

    “we may pursue acquisitions in the edible oil and food industry to strengthen our presence in the southern regions where regional companies are strong. We intend to consolidate market share through acquisitions of regional players,” the corporate wrote in its purple herring prospectus (RHP).
    Investors who want to subscribe to Adani Wilmar’s IPO can bid within the lot of 65 fairness shares and multiples thereof. At the higher worth band, they must shell out Rs 14,950 to get a single lot of Adani Wilmar. The shares will probably be listed on each BSE and the National Stock Exchange (NSE).
    Half of the problem measurement has been reserved for certified institutional consumers (QIBs), 35 per cent for the retail buyers and the remaining 15 per cent is for non-institutional buyers.
    Ahead of the general public provide, the anchor buyers’ portion will probably be obtainable on Tuesday, January 25, 2021.
    Upon its itemizing, Adani Wilmar will turn out to be the seventh Adani group firm to debut on the inventory market. Currently, six Adani group firms are listed on the home exchanges – Adani Enterprises, Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone.

    Kotak Mahindra Capital Company, J.P. Morgan India, BofA Securities India, Credit Suisse Securities (India), ICICI Securities, HDFC Bank and BNP Paribas are the guide operating lead managers to the IPO whereas Link Intime India is the registrar of the problem.
    Apart from this, the share allotment is more likely to happen on February 3, 2022, and the shares are anticipated to be listed on February 8, 2022, in line with the timeline given within the RHP.

  • AGS Transact Technologies IPO to open Wednesday: Here’s value band, lot dimension and extra

    AGS Transact Technologies IPO: The Rs 680 crore preliminary public providing (IPO) of fee options supplier AGS Transact Technologies will open on Wednesday, January 19, 2022, and will likely be obtainable for subscription until Friday, January 21, 2022. The value band of the IPO has been mounted at Rs 166-175 per share of the face worth of Rs 10 every.
    AGS Transact Technologies is an built-in omnichannel fee options supplier and gives digital and cash-based options to banks and corporates. It gives customised services and products comprising ATM and Cash Recycler Machines (CRM) outsourcing, money administration and digital fee options together with service provider options, transaction processing providers and cell wallets.
    The IPO is fully a proposal on the market (OFS) by a promoter and different promoting shareholders. The firm’s promoter Ravi B Goyal will promote shares value as much as Rs 677.58 crore.
    As of March 31, 2021, AGS is the second largest firm in India when it comes to income from ATM managed providers beneath the outsourcing mannequin, and income from money administration and variety of ATMs replenished, based on the main points offered within the pink herring prospectus (RHP).

    Upon its itemizing, it’ll be part of CMS Info Systems which simply acquired listed final month.
    AGS Transact Technologies has tried a number of instances to go public. Prior to this, in 2018, it had filed its draft papers with market regulator Sebi for elevating Rs 1,000 crore via IPO and though it had secured the regulator’s nod it didn’t go forward with the plan. Before that, it had filed draft papers with the regulator in 2015 to lift as much as Rs 1,350 crore via an IPO and previous to that, the agency had filed preliminary papers with Sebi in 2010 to drift an IPO.
    Investors who want to subscribe to AGS Transact Tech’s IPO can bid within the lot of 85 fairness shares and multiples thereof. At the higher value band, they must shell out Rs 14,875 to get a single lot of AGS. The shares will likely be listed on each BSE and the National Stock Exchange (NSE).
    Half of the difficulty dimension has been reserved for certified institutional patrons (QIBs), 35 per cent for the retail buyers and the remaining 15 per cent is for non-institutional buyers.
    Ahead of the general public provide, the anchor buyers’ portion will likely be obtainable on Tuesday, January 18, 2021.
    The firm expects to grasp the advantages of itemizing of the fairness shares on the inventory exchanges, enhancement of its model identify and creation of a public marketplace for the fairness shares in India, as per the data within the RHP.

    ICICI Securities, HDFC Bank and JM Financial are the e book operating lead managers to the IPO whereas Link Intime India is the registrar of the difficulty.
    Apart from this, the share allotment is prone to happen on Thursday, January 27, 2022, and the shares are anticipated to be listed on Tuesday, February 1, 2022, based on the timeline given within the RHP.
    -with PTI inputs