AGS Transact Technologies: First Mainstream IPO Listing Of 2022; Sees At Par Listing

AGS Transact IPO shares saw at par listing with shares listing at a price of Rs. 176 per share on the BSE, while the stock on the NSE settled at a price of Rs. 175 apiece on the NSE.

After the last 2 week's subdued momentum, SGX Nifty signals positive momentum for the Indian markets while majority of the Asian markets are closed today. And as the listing of AGS Transact Technologies has been lined up amid muted market sentiments ahead of the mega Budget 2022-2023 announcement.

The IPO was subscribed 7.79 times during the three days from January 19 to January 21, 2022 from all kinds of investors. As per the IPO objective the promoter had to divest stake in the company, who was to later infuse funds in the company by buying the CCPS, which has been fulfilled on January 29, 2022, even before listing.

The company's revenues over the last 3 years have been muted with decline from Rs. 1833 crore in Fy2 0 to Rs. 1797 crore in Fy22.

As against the upper level of the price band of Rs 175, the issue in the unlisted market ahead of the listing shed all of its premium with experts even expecting a discounted listing.

On the other hand, Adani Wilmar's IPO which kicked off last week is also to end for subscription today. The public issue of the company has been initiated with reservation quota for Adani Enterprises shareholders.

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