NEW DELHI: Payment solutions providerAGS Transact Technologies has received capital markets regulator Sebi's approval to raise up to Rs 1,350 crore through an initial public offering (IPO).
This is the company's second attempt to hit the capital market.
The firm had filed its draft red herring prospectus (DRHP) with Sebi through its lead merchant banker Axis Capital in March this year.
Securities and Exchange Board of India (Sebi) issued its final observations on the draft offer documents on May 28, which is necessary for companies to launch any public offer.
As per the draft papers, the firm would garner up to Rs 400 crore by issuing fresh equity shares, while private equity firm TPG Capital, Oriole Ltd and the company's promoter Ravi B Goyal would rake in up to Rs 950 crore through the sale of existing shares.
Besides, the ATM outsourcing and payments company, plans to sell shares worth up to Rs 200 crore through pre-IPO placement.