Payment solutions provider AGS Transact Technologies Limited received the regulatory approval to float an IPO (initial public offering) up Rs 1,000 crore. The company had filed its Draft red herring prospects or DRHP with the market regulator in mid-August.
As per DRHP, AGS Transact’s initial share-sale comprises fresh issue of equity shares aggregating up to Rs 400 crore. In addition, offer for sale (OFS) worth up to Rs 600 crore by the existing shareholders.
The IPO comprises fresh shares worth Rs 400 crore apart from equity of promoter Ravi Goyal and other individual share-holders worth Rs 600 crore.
Equity shares of the company will be listed on the National Stock Exchange (NSE) and Bombay stock Exchange (BSE)