AGS Transact Technologies Limited Announces Fund Raise of Rs. 2,000 Mn; Promoter Group Commits Rs. 1,500 Mn to The Raise

AGS Transact Technologies Limited Announces Fund Raise of Rs. 2,000 Mn; Promoter Group Commits Rs. 1,500 Mn to The Raise

AGS Transact Technologies

Bengaluru,20th June 2024– The Board of Directors of AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA) approved Fundraise by way of preferential warrants to Promoter and Promoter Group along with Non-Promoters for Rs. 79.25 / – each or at a price being not lower than the minimum price determined by the Regulations for Preferential Issue contained in Chapter V of the SEBI ICDR Regulations, whichever is higher, subject to the approval of regulatory/ statutory authorities and the shareholders of the Company. The Company will raise Rs. 2,000 mn via the proposed fund raise plan. The Promoter group will infuse Rs. 1,500 mn while the balance will be infused by other investors.

Commenting on the fundraise plan, Mr. Ravi B. Goyal, Chairman and Managing Director said, “AGS Transact remains at the forefront of various opportunities in the payment solutions space and digital business in India. This fund raise is in alignment with the company’s long-term growth objective to capitalize on this changing landscape. With this, the company is strategically placed to drive growth in the coming years while strengthening its balance sheet.”

Rabindra

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