Connect with us

Hi, what are you looking for?

Finance

AGS Transact Tech gets Sebi’s go-ahead for Rs 1,000-cr IPO

MEW DELHI: Payment solutions provider AGS Transact Technolog..

MEW DELHI: Payment solutions provider AGS Transact Technologies has received capital markets regulator Sebi's go-ahead to mop up Rs 1,000 crore through an initial public offer. The company, which had filed its draft papers with Sebi in August seeking its clearance to float an initial share-sale, obtained its "observations" on October 26, latest update with the markets watchdog showed.

Sebi's observations are necessary for any company to launch public issues such as initial public offer (IPO), follow-on public offer (FPO) and rights issues.

Going by the preliminary papers, AGS' initial share-sale comprises fresh issue of equity shares aggregating up to Rs 400 crore besides an offer for sale worth up to Rs 600 crore by the existing shareholders.

Besides, the company plans a pre-IPO placement of up to 50 lakh equity shares for up to Rs 125 crore.

Funds raised through the issue will be used for payment of certain loans and other general corporate purposes.

This is the company's third attempt to hit the capital market.

Earlier, AGS had filed initial papers with Sebi in 2015 to raise up to Rs 1,350 crore through an IPO. It had secured the regulator's go-ahead too but did not go ahead with the plan.

Prior to that, the firm had filed draft papers with the markets watchdog in 2010 but did not launch the public issue.

ICICI Securities, Axis Capital, HDFC Bank, IIFL Holdings, IndusInd Bank and Nomura Financial Advisory and Securities (India) will manage the company's issue.

The equity shares of the company will be listed on BSE and NSE.

Original Article

[contf]
[contfnew]

ET Markets

[contfnewc]
[contfnewc]

Finance

In an interview with ET Now, Dabur India Director Mohit Burm..

Science

The 147th Open championship will be at Carnoustie Golf Club in Scotland. Jan Kruger/R&A Golfers ..

Tech

Enlarge Oliver Morris/Getty Images) In response to an Ars re..

Tech

Enlarge/ You wouldn't really want to use Nvidia's ..