AGS Transact gets Sebi nod for Rs 1,350-crore offering
Posted on 3rd June 2015 |
.jpg) |
| Payment solutions provider AGS Transact Technologies has received the Securities and Exchange Board of India (Sebi)'s approval 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 had filed a draft red herring prospectus with Sebi through its lead merchant banker Axis Capital in March this year. Sebi issued its final observations on the draft offer documents on May 28, which is necessary for companies to launch any public offer. According to the draft papers, 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 sale of the existing shares. Besides, the ATM outsourcing and payments company, it plans to sell shares worth up to Rs 200 crore through pre-IPO placement. The proceeds of the issue would be utilised towards repayment of loans and for general corporate purposes. Currently, Goyal owns 55.2 per cent in AGS Transact, TPG holds 26 per cent stake and Oriole owns 16.44 per cent 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 go ahead with the plan. |
|
|
|
|
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
.jpg) |
Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
|
|
Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
.jpg) |
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
|
|
LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
.jpg) |
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
|
|
Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
.jpg) |
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
|
|
World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
.jpg) |
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
|
|
|
|
| Be the first person to write a business review for AGS Transact gets Sebi nod for Rs 1,350-crore offering |
|
|
|
