Public Market

IPO

AGS Transact Tech to raise Rs.800-Cr via IPO

Economic Times  

Payment solutions provider AGS Transact Technologies has filed preliminary papers with SEBI to raise Rs 800 crore through an initial share sale. The initial public offering (IPO) is purely an offer-for-sale of equity shares by the promoters and other selling shareholders. Promoter Ravi B Goyal will sell shares worth up to Rs 792 crore through the offer-for-sale and other selling shareholders will offload shares to the tune of Rs 8 crore. AGS Transact Tech is an integrated omni-channel payment solutions provider in India in terms of providing digital and cash-based solutions to banks and corporate. ICICI Securities, HDFC Bank and JM Financial are the lead managers to the issue.

From the Venture Intelligence PE-VC Deal Database: AGS had raised USD 42 million from TPG Growth in June 2011 and USD 40 million from Actis in Aug 2012. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)