AGS Technologies gets Rs 650 cr from promoter ahead of its listing on January 31

AGS Transact Technologies (AGSTTL) has informed the National Stock Exchange (NSE) regarding confirmation of redemption of non convertible debenture (NCDs) and payment of interest and principal two days before the listing of the Company on the national stock exchanges.

Post-a successful IPO, AGSTTL will list its equity shares on Monday, January 31, 2022.

The main objective of the OFS in the IPO was that AGS Transact Technologies Ltd.’s promoter Ravi B. Goyal will sell shares, but the proceeds (Rs 650 crores) will be infused into the company by buying the CCPS from company, which has been fulfilled on January 29, 2022 even before listing. The NSE link and notice has been appended here.

As a result Debt to equity ratio and debt to EBITDA ratio has now become favourable/strong as claimed by company during roadshows. It will lead to substantial savings of financial costs, thereby improving profitability and which will add substantial value to the shareholders

↯↯↯Read More On The Topic On TDPel Media ↯↯↯