AGS Transact Technologies – A payment solutions provider has finally received the market regulator the Securities and Exchange Board of India’s go-ahead signal to launch an IPO worth 1,000 crores. The company had filed the draft papers with the capital market regulator in August month seeking the clearance to launch an IPO. Finally, AGS Transact Technologies obtained its “observations” on 26th October as per the latest update with the markets watchdog.

The market regulator Sebi’s observation is inevitable for a company to float public issues like Initial public offer and follow-on public offer and other issues.

The public issues comprise a fresh issue of equity shares worth around INR 400 crore by the company and also an offer for sale worth around INR 600 Cr. by existing shareholders.  The proceeds will be utilized for the payment of loans & other general corporate purposes.

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

Image Source: AGS Transact Technologies