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AGS Transact Technologies shares to hit secondary market

written by Bella Palmer
national-stock-exchange

As per the BSE notice, the equity shares of AGS Transact Technologies Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities on Monday

AGS Transact Technologies shares are going to hit secondary market today. Shares of payment solution provider company will list at both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

As per the BSE notice, the equity shares of AGS Transact Technologies Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities in a Special Pre-open Session (SPOS) on Monday, January 31, 2022.

According to stock market experts, the public issue is richly priced that got reflected in moderate response by bidders. They said that due to the lower than expected subscription demand, AGS Transact Technologies shares may have a muted to discounted listing today.

Speaking on AGS Transact Technologies IPO listing, Prashanth Tapse, Vice President (Research) at Mehta Equities Ltd said: Considering lower-than-expected subscription demands to its initial public offering (IPO), we expect muted or discount listing show in the volatile markets.

We believe the reason for low demand would be on investors’ concern over 100 per cent OFS offer followed by denting selloff sentiments in the recently listed IPO like PayTM, Policybazaar, Shriram Properties and Rategain, which failed to perform on the listing day, he said.

We also see a few more concerning points like losses on books incurred in the last five months of FY22 and a flat growth in topline which is not giving enough room for any listing gains. Based on financial parameters, the issue was fully priced leaving nothing on table to new investors, he said.

Echoing Prashanth Tapse's views, Abhay Doshi, Founder at UnlistedArena.com said: AGS Transact Technologies will be the first company to list in calendar year- 2022. The IPO seemed to be richly priced owing to which it got moderate response to its offer. The top and bottom line growth is lacking. On the top of it, broader markets have corrected deeply which may impact its listing. I expect the shares to debut in flattish manner around its issue price.

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