Page 2 - Ags Transact Technologies
AGS Transact Tech to use Rs 600 cr of IPO proceed to retire debt
AGS Transact Technologies, which leads the online payments space at fuel stations and is among the largest players in ATM and cash management services, will use Rs 600 crore of the Rs 800-crore-fully offer-for-sale issue to retire debt. Ravi Goyal, chairman & managing director of AGS, told PTI that the company has Rs 1,100 crore mostly long term debt, and post-IPO, it will come down to around Rs 500 crore as they will pay back Rs 600 crore and the remaining Rs 200 crore will come to the company. Currently, Goyal and his family own 95 per cent of the city-based firm, and the rest is with employees through Esops. The merchant bankers are yet to arrive at a valuation, which will decide how much the promoters will dilute their stake, he said. Goyal said debt rose after he bought out private equity firms Actis and TPG in 2018, which had invested Rs 410 crore in 2012 for 42 per cent equity. In 2018, they were bought out for Rs 450 crore. The Rs 800-crore IPO consists of Goyal selling 8
 "AGS Transact Tech to use Rs 600 cr of IPO proceed to retire debt")
AGS Transact Tech files draft papers with Sebi to raise Rs 800-cr via IPO
Payment solutions provider AGS Transact Technologies has filed preliminary papers with capital markets regulator Sebi to mop-up Rs 800 crore through an initial share-sale
 "AGS Transact Tech files draft papers with Sebi to raise Rs 800-cr via IPO")
AGS Transact Technologies gets Sebi's go-ahead for Rs 10-billion IPO
Besides, the company plans a pre-IPO placement of up to 5 million equity shares for up to Rs 1.25 billion
 "AGS Transact Technologies gets Sebi's go-ahead for Rs 10-billion IPO")
