AGS Transact plans up to Rs 1350 cr India IPO

Payment specialist AGS Transact Technologies Ltd., earlier known as AGS InfoTech Pvt Ltd., founded in 1992 in Mumbai, India, is planning an up to Rs 1350 crore (USD 216.6 million) initial public offering,

AGS Transact Technologies is partly owned by US private equity firm TPG Capital.

The company plans to raise up to Rs 400 crore by issuing new shares, while TPG and other shareholders would raise up to Rs 950 crore selling existing shares in AGS, which offers payment solutions and technology products to banks and retailers.