Payment solutions provider AGS Transact Technologies Ltd is aiming to conclude its up to Rs 1,350 crore ($215.8 million) initial public offer (IPO) by September, two bankers involved in the process told Reuters.
The expected timing comes after a term sheet seen by Reuters on Wednesday showed AGS planned to raise up to Rs 400 crore by issuing new shares, while US private equity firm TPG Capital and other shareholders would raise up to Rs 950 crore by selling existing shares.
A separate draft prospectus filed with the Indian market regulator showed the company and selling shareholders are considering placing up to Rs 200 crore worth of shares with anchor investors ahead of the IPO.
The proceeds will be used for the repayment of loans and general corporate purposes, the preliminary prospectus showed. ($1 = 62.5700 rupees)
