How was the response to the IPO of AGS Transact Technologies that closed for subscription on Friday 21st January?

At the close of subscription on 21-January 2022, the Rs.680 crore IPO of AGS Transact Technologies got subscribed by a total of 7.79 times overall. There was robust demand coming from the HNI segment followed by Retail and QIB response. Out of the 286.75 lakh shares on offer in the IPO, the IPO got bids for 2,234.74 lakh shares, implying 7.79 times subscription. NII bids and QIB bids build up substantial momentum on the last day.

Let me first brief you about the QIB portion that saw a successful anchor placement a day ahead of the IPO opening. AGS Transact had placed 1,16,57,141 shares at the upper end of the price band of Rs.175 to 17 anchor investors. The net QIB allocation excluding the anchor portion had a quota of 81.93 lakh shares of which it got bids for 219.43 lakh shares as of the close of Day-3 of the IPO. This implies QIB oversubscription of 2.68 times.

Let us now turn to the High Net Worth and non-institutional investors segment. This segment of HNI/NII got subscribed a total of 25.61 times. The HNI / NII portion got bids for 1,573.83 lakh shares against the available quota of 61.45 lakh shares for the HNI / NII segment. There was a good deal of interest from high net worth individuals and of corporates too. Bulk of the funded applications and corporate applications, come in on the last day of the IPO only.

Finally, I come to the retail portion. This segment has been showing strong appetite from Day-1. Retail allocation is 35% in this IPO. For retail investors; out of 143.37 lakh shares on offer in the retail quota, valid bids were received for 441.49 lakh shares. This included bids of 329.83 lakh shares at the cut-off price. This translates into retail portion subscription to the tune of 3.08 times.