AGS Transact Technologies, an Omni-channel payment solutions provider has filed draft red herring prospectus with the capital markets regulator Securities and Exchange Board of India (Sebi) to commence an initial public offering.
The company intends to garner Rs.800 crore through its public offer, which is entirely an offer for sale by existing selling shareholders.
Promoter Ravi B Goyal is likely to sell up to Rs.792 crore through offer for sale, while other shareholders selling their stake will offload shares worth up to Rs.8 crore.
AGS Transact Technologies offers customised products and services comprising ATM and CRM outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets.
In March 2021, it stood as second largest company in India in terms of (i) revenue from ATM managed services under the outsourcing model, and (ii) revenue from cash management and number of ATMs replenished. As of March 2021, it deployed more than 2.07 lakh payment terminals and was one of the largest deployers of POS (point of sale) terminals at petroleum outlets in India, having rolled out IPS at more than 16,000 petroleum outlets with 28,986 terminals in India.
For the financial year 2021, the company made 95.6 percent of revenue from operations in India.
Promoters of the company are Ravi B Goyal and Vineha Enterprises - together they hold 97.61 percent stake in the company. AGSTTL Employees Welfare Trust has 1.51 percent shareholding.
ICICI Securities, HDFC Bank and JM Financial are named as the book running lead managers to the issue. The equity shares would be listed on BSE and NSE.