#ipo proceeds

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c to use Rs 600 cr of IPO proceed to retire debt

c to use Rs 600 cr of IPO proceed to retire debt

Mumbai: AGS Transact Technologies, which leads the online payments space at fuel stations and is among the largest players in ATM and cash management services, will use Rs 600 crore of the Rs 800-crore-fully offer-for-sale issue to retire debt. Ravi Goyal, chairman & managing director of AGS, told PTI that the company has Rs 1,100 crore mostly long term debt, and post-IPO, it will come down to…

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Sebi proposes tightening rules for IPO proceeds utilisation

Sebi proposes tightening rules for IPO proceeds utilisation

Mumbai: The Securities and Exchange Board of India (Sebi) proposed a limit on the money raised from initial public offerings (IPOs) that startups can use for mergers and acquisitions (M&As), unless takeover targets are explicitly identified beforehand. “Raising funds for unidentified acquisitions leads to some amount of ambiguity in the IPO objects,” Sebi said in a discussion paper on Tuesday.…

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