Payment solutions provider AGS Transact Technologies has filed papers with capital markets regulator Sebi to raise up to Rs 1,350 crore through an initial public offering (IPO). This is the company's second attempt to hit the capital market.
The firm would garner up to Rs 400 crore by issuing fresh equity shares, while private equity firm TPG Capital, Oriole Ltd and the company's promoter Ravi B Goyal would rake in up to Rs 950 crore through the sale of existing shares, according to draft documents filed with Securities and Exchange Board of India (Sebi).
Besides, the ATM outsourcing and payments company, plans to sell shares worth up to Rs 200 crore through pre-IPO placement.
The proceed of the issue would be utilised towards repayment of loans and general corporate purposes. Currently, Goyal owns 55.2 percent in AGS Transact, TPG holds 26 percent stake and Oriole owns 16.44 percent holding in the company.
The issue is being managed by Axis Capital, Citigroup Global Markets India, HDFC Bank, ICICI Securities and Kotak Mahindra Capital Company. Earlier, AGS had filed initial papers with Sebi in 2010 to float an IPO. However, the company did not not go-ahead with plan.
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