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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Offer for sale by selling shareholder
The entire issue was an offer for sale by an existing shareholder; the company did not receive any proceeds from the offer, beyond achieving the benefits of a stock exchange listing.
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(₹ in Crore)
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AGS Transact Technologies Limited is an omni-channel payment solutions provider in India, offering ATM and cash recycler machine (CRM) outsourcing, cash management services, and digital payment solutions including merchant point-of-sale (POS) solutions, transaction processing services and mobile wallets. At the time of its listing the company was the second largest player in India by revenue from ATM managed services and the largest deployer of POS terminals at petroleum outlets in the country. The company operated a large physical and digital network, including around 72,000 ATMs and cash recyclers, over 200,000 merchant POS terminals and services to more than 16,000 petroleum outlets across roughly 2,200 Indian cities. It also owns proprietary payment technology brands, including Fastlane, an RFID-based payment platform, and Ongo, a multi-mode digital payment system, and had operations extending beyond India into markets such as Sri Lanka, Cambodia, Singapore, Indonesia and the Philippines. The company's initial public offer was structured entirely as an offer for sale by an existing shareholder, so the company itself did not raise fresh capital through the listing.
Promoter Name is not available
Ahead of the offer, the company placed shares with anchor investors including BNP Paribas Arbitrage, Ashoka India Equity Investment Trust, HDFC Balanced Advantage Fund and Nippon India Small Cap Fund, mobilising a reported amount in the region of Rs 200 crore.
Source: RHP • Analysis provided for informational purposes
Last Updated: 19 July 2026, 7:23 PM
Leading position in petroleum-outlet POS deployment
The company was one of the largest deployers of point-of-sale terminals at petroleum outlets in India, with a very large installed base of machines across thousands of cities.
Proprietary payment technology
In-house platforms, including an RFID-based payment product and a multi-mode digital payment system, differentiate the company's offering from pure hardware-outsourcing competitors.
International presence
The company had extended its operations beyond India into several overseas markets, providing some geographic diversification.
Scale in ATM and cash management services
The company ranked as the second largest player in India by revenue from ATM managed services, reflecting a large, established customer base among banks and corporates.
Client concentration in banking sector
A significant share of revenue depends on contracts with banks and financial institutions for ATM and cash management outsourcing, exposing the company to contract renewal and pricing risk.
Technology and cash-logistics operational risk
The business depends on the continuous operation of cash logistics and machine networks, which carries operational and security risk.
No proceeds to the company
As the offer was entirely a sale by an existing shareholder, the company itself received no capital from the issue to fund its own balance sheet.
AGS Transact Technologies Limited
Company contact details are not available.
MUFG Intime India Private Limited
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