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Company Overview

After emerging as India’s second-largest company in ATM and cash management services, AGS Transact has built the largest integrated omni-channel payment solutions company for banks and corporate clients.  Founded in 2002 by Mr Ravi Goyal, the company started out as an Indian distributor of leading ATM manufacturer, Diebold Nixdorf. By 2009, AGS Transact also entered into the ATM outsourcing and managed services. 

As of 31-March, 2021, AGS Transact Technologies has deployed 207,335 payment terminals, and rolled out integrated payment solutions at more than 16,000 petrol pumps with more than 28,986 terminals in India. During the financial year 2021, the company derived 95% of revenues from India while AGS Transact has now expanded in other Asian countries of Sri Lanka, Singapore, Cambodia, Philippines and Indonesia.

Important subsidiaries of AGS Transact Technologies:
  1. Securevalue India Ltd. is engaged in the business of, inter-alia, providing cash management services, including cash in transit, cash in vault, note sorting and processing and cash pick-up services.
  2. India Transact Services Ltd. provides end-to-end merchant solutions for the merchant acquiring business through supply, installation and maintenance of POS terminals to various banks in India. It also provides integrated solutions to corporate clients for transaction processing. 
  3. Novus Technologies Pte. Ltd. is engaged in the business of designing and supplying computer software solutions to its corporate customers.

In August 2021, AGS Transact filed DRHP with SEBI to raise around ₹ 800 crores through IPO. The issue will be 100% ‘offer-for-sale’ by the promoters and existing investors.  The promoter, Mr. Ravi Goyal, plans to invest the share sale proceeds of ₹ 650 crores into AGS by buying the preference shares of group company Vineha Enterprises through an escrow mechanism.

Business Model

AGS Transact Technologies operates in the following business segments: 

  1. Payment Solutions [77% of total revenues]
  2. Banking Automation Solutions [9% of total revenues]
  3. Other Automation Solutions [14% of total revenues]

Payment Solutions Services include ATM and CRM outsourcing and managed services, cash management services, transaction switching services,digital payment services including toll and transit solutions (Fastlane), services through POS machines and agency banking.  The biggest customers are ICICI Bank, Axis Bank, HDFC Bank and Federal Bank. During FY 2020-21, payment solutions contributed 77% of the total revenues. 

Banking Automation Solutions division looks after sale of ATMs and CRMs, currency technology products and related services to banking clients like ICICI Bank, HDFC Bank and Axis Bank. During FY 2020-21, banking automation solutions contributed 9% of the total revenues.

Also, AGS Transact sells cash automation machines like POS machines, cash billing terminals, colour dispensing machines and related services to companies in retail, petroleum and colour segment including More Retail, HPCL, BPCL, IOCL, Kansai Nerolac Paints and Berger Paints. During FY 2020-21, other automation business solutions contributed 14% of the total revenues.

Brands

Fastlane is a cashless payment app which uses RFID technology.  Fastlane enables fleet operators and retail consumers to ensure that fuel is filled of the right grade and quantity, and track their fuel consumption on a real-time basis.

Ongo platform allows AGS consumers to use only a single payment system (Ongo) to make all their payments at POS terminals through various modes like ATM and credit cards, RFID, Bharat QR, UPI. Both the merchants and consumers benefit immensely from the convenience of using ‘Ongo’ for other services, with no need to switch to another platform.

Registered Office

The registered office of AGS Transact Technologies Limited is located at Kamala Mill Compound, Senapati Bapat Marg, Lower Parel, Mumbai.

SymbolAGS Transact Technologies Ltd
Face Value (₹):10
ISIN:INE583L01014
Demat Status:NSDL & CDSL
Lot Size:30 Shares

Board of Directors:

NameDesignationProfile
Mr. Ravi GoyalChairman & MDlinkedin
Mr. Sudip BandyopadhayaIndependent Directorlinkedin
Mr. Vijay ChughIndependent Directorlinkedin
Mr. Rahul BhagatIndependent DirectorNA Final 1

Key Business Highlights

  • India’s largest integrated Omni-channel payment solutions provider.
  • Market leader in ATM managed services segment, having long-term contracts (8-10 years) with leading Indian private and public sector banks. 
  • Growing digital payment solutions business through a network of 172,181 merchant clients using 207,335 installed merchant POS terminals and 46,000 cash billing machines. AGS is pivoting towards ‘Payments-as-convenience’ through its ‘Ongo’ Card ecosystem. 
  • Expanding international business in East-Asian countries of Sri Lanka, Singapore, Indonesia, Cambodia and Philippines.

Financial Highlights

Particulars2020-212019-202018-192017-18
Total Income (₹ Crores)1,797.001,833.001,823.001,495.37
PAT (₹ Crores)54.7983.0066.193.78
Diluted EPS (₹)4.556.905.530.32
Book Value per Share (₹)46.4441.4835.3233.42
Equity (₹ Crores)558.66498.95424.93402.10

Financial Charts

Historical Chart

 

Shareholding Pattern

Peer Comparison

AGS Transact Technologies operates in multiple business segments- sale of ATM and merchant PoS machines, ATM cash management services and digital payment business. While there is no single comparable company having a similar business model to AGS Transact, we list the identifiable competitors in those segments where AGS operates.

Sales of ATM machines Hitachi, NCR Corporation, 

ATM Cash Management Services CMS Info system, SIS Prosegur, Brink’s Arya, Writer Safeguard, Login cash and Radiant Cash.

Digital Payment ServicesPaytm, Pine Labs, Ezee Pay, Ezetap, PayUMoney 

 

Media Updates

“AGS Transact Tech to use Rs 600 Cr. of IPO proceed to retire debt”

AGS Transact Technologies Chairman & Managing Director Ravi Goyal said the company has Rs 1,100 crore mostly long term debt.

AGS Transact Technologies, which leads the online payments space at fuel stations and is among the largest players in ATM and cash management services, will use Rs 600 crore of the Rs 800-crore-fully offer-for-sale issue to retire debt.

Read more: https://www.business-standard.com/article/companies/ags-transact-tech-to-use-rs-600-cr-of-ipo-proceed-to-retire-debt-121111701227_1.html

AGS TECHNOLOGIES MAKES 3RD ATTEMPT IN ROWTO RAISE RS. 1000 CRS VIA IPO

Payments solutions provider AGS Transact Technologies Ltd has restarted work on its initial public offering (IPO), its third attempt to go public as per market talks.

In March 2015, AGS Transact had filed papers with markets regulator Securities and Exchange Board of India (Sebi) to raise up to Rs1,350 crore through an initial share sale, which did not materialize.

The company has kick started work on its IPO very recently. Investment banks ICICI Securities and Axis Capital are working on the IPO this time. The company is expected to raise under Rs1,000 crore through the share sale. Funds raised through the issue will be used for payment of certain loans and other general corporate purposes.

Frequently Asked Questions (FAQs) on AGS Transact Technologies Unlisted Shares

The buying and selling of unlisted shares and pre-IPO shares is fully legal and valid.

The procedure to buy the AGS Transact Technologies Ltd shares is fairly simple. Once you have settled on the price and quantity of the transaction, you would have to transfer the funds into the bank account of the seller. Once the funds are transferred and transaction details are shared with the seller, your demat account will be credited with the shares either on the same day of the fund transfer or before the end of the next working. day.offerings/national-stock-exchnage-of-india-limited/

In the secondary market, the transactions related to unlisted shares take place with the existing owners of the shares who are generally the employees or existing investors in the company. The company itself is not directly involved.

The AGS Transact unlisted shares will get credited either the same day or before the end of the next working day when you transfer the funds into our bank account.

The minimum lot size varies on the basis of market conditions and demand and supply factors. To know the current lot size for AGS Transact Technologies, please visit the stock page on our website: www.delistedstocks.in/current-offerings/current-offerings/ags-transact-technologies/ 

There are many factors which influence the pricing of unlisted shares. Apart from the supply and demand factors, the latest transactions happened on the same stock, last funding round of the company, and valuation level of companies of the similar size affect the pricing of the unlisted shares.

Before IPO, there is no restriction on sale and transfer of your AGS Transact unlisted shares. But once the shares are listed on the stock exchange, for retail investors, there is a minimum lock-in period 6 months after listing on the stock exchange.

Once the selling price and quantity of shares is agreed with us, we will provide you with an UTR (Unique Transaction Reference) number to transfer the shares. Once you have transferred the shares into our company’s demat account, funds are released into your bank account within 24 hours or before the end of the next working day of the transfer of the shares.

If your holding period is less than 2 years, then such income is treated as business income and liable to get taxed as per tax slab of the investor. If your holding period is more than 2 years, then your profits would be subject to long-term capital gains tax. The current short-term capital gain tax rate is 20% after indexation.

The trading in unlisted shares is governed by Securities & Contract (Regulation) Act, which comes under the preview of SEBI.  The SEBI regulations become applicable when the stocks of the company get listed on the stock exchange. There is a minimum lock-in period of 6 months for pre-IPO investors.

The major risk associated with investing in unlisted stocks is the liquidity risk. The possible exit route for investors is either to sell to another investor or wait till the company gets listed on the stock exchange.

Yes, NRI’s can also buy and sell AGS Transact Ltd unlisted shares just like domestic investors. But their investment is on a non-repatriable basis.

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