This Small-cap Payment Solution Provider Announces Convertible Warrants on Preferential Basis to Promoters, Complete Details Inside!

The shares of the company have delivered a return of over 45 per cent to its shareholders in the past 1 year.

AGS Transact Technologies Ltd is a prominent player in India's payment solutions sector, specializing in omni-channel services. It holds the distinction of being India's second-largest company by revenue derived from ATM-managed services. Additionally, AGS Transact Technologies is the largest deployer of point-of-sale (POS) terminals across petroleum outlets in the country.

The Board is authorized to create and issue up to 2,52,36,500 convertible warrants on a preferential basis. These warrants entitle the Promoter/Promoter Group and Non-Promoters (referred to as "Proposed Allottees") to subscribe to equity shares with a face value of Rs. 10 each. The subscription price per share is set at Rs. 79.25, inclusive of a premium of Rs. 69.25 per share, or at a price not less than the minimum price specified under SEBI (ICDR) Regulations for Preferential Issues in Chapter V, whichever is higher.

The resolution authorizes the conversion of warrants into equity shares at the holder's discretion within 18 months of allotment. Each warrant, upon conversion, entitles the holder to one fully paid-up equity share of Rs. 10 face value, with at least 25% of the conversion price due upon warrant allotment. The equity shares issued upon conversion will rank equally with existing shares, including dividend entitlement. Adjustments to the warrant exercise price will reflect any bonus issues, rights offerings, or corporate actions. The issue price will be determined 30 days before the e-voting deadline or the preceding business day if it falls on a weekend or holiday. The warrants and converted equity shares are subject to lock-in periods as per SEBI regulations. The board is authorized to finalize issue terms, modify conditions as required by regulators, and manage all necessary approvals and listing procedures.

Today the company’s shares closed the day at Rs 86.48 per share on the BSE. The AGS Transact Technologies Ltd's current market capitalization stands at Rs 1049.89 crore. Additionally, the shares have generated a return of over 45 per cent in the past year.

Investors must keep this Small-Cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.