The initial public offering (IPO) of AGS Transact Technologies will open for subscription on Wednesday. The price band of the three-day initial share-sale has been fixed at Rs 166-175 a share, which will conclude on Friday, January 21.

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This IPO follows a month's lull in the primary market.

Here are key things to know before subscribing to the offer:

Offer details

AGS Transact Technologies has cut the size of its public issue to Rs 680 crore, from Rs 800 crore planned earlier. The public issue is purely an offer-for-sale (OFS) of equity shares by a promoter and other selling shareholders.

As a part of the OFS, promoter Ravi B Goyal will sell shares worth up to Rs 677.58 crore. Earlier, he was looking to offload shares to the tune of Rs 792 crore. Half of the issue size has been reserved for qualified institutional buyers, 35 percent for retail investors and the remaining 15 percent for non-institutional investors.

Among others, VC Gupte, Shailesh Shetty, Rakesh Kumar, Nikhil Patiyat and Rajesh Harshedrai Shah will sell the remaining Rs 2.42 crore worth of shares.

Lot size

Investors can bid for a minimum of 85 equity shares and in multiples thereof.

Listing

The company's shares are expected to list on stock exchanges BSE and NSE on February 1, 2022.

Lead managers

ICICI Securities, HDFC Bank and JM Financial are the lead managers to the issue.

About the company

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 corporates.

It provides customised products and services comprising ATM and Cash Recycler Machines (CRM) outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets.

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