AGS Transact Tech IPO : ICRA gives 3 out of 5 Grade

by khalid on 15/02/2011 · 0 comments

AGS Transact Tech IPO has got 3 out of 5 by ICRA (rating agency) and this rating/grading is ‘Average Fundamentals’ for a system integration comapny. The grade 3 indicates that the fundamentals of the IPO are ‘Average’ compared to the other listed securities in India. AGS Transact Technologies, one of the leading system integrators in the business of touch point transformation, a business that transforms the way a customer interacts with the service provider enabling efficient delivery of their products and services.

The Issue proceeds will be used for for setting up and deploying 1,541 ATMs in accordance with their contract with Axis Bank. AGS also aims to set up a 24X7 command and support center. The company plans to set up cash management branch offices in six cities.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The integrated apparel manufacturer with a capacity of two million garments per annum, Sudar Garments Ltd presently manufactures under its own brand name “Glory to Glory” and will be launching shortly two more brands namely ‘St. Paul’ and ‘Majesty’.

The Book Running Lead Manager (BRLM) to the offer are Avendus Capital Private Limited and YES Bank Limited.

Registrar of this issue is Link Intime India Pvt Limited Mumbai.

Stay tuned to BelltheBull Blog for more news on AGS Transact Tech IPO !

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