The difficulty can be totally a suggestion on the market by the promoters and different shareholders. Promoter Ravi Goyal will infuse the share sale proceeds of ₹650 crore into AGS by shopping for the compulsorily convertible desire shares of group entity Vineha Enterprises from the corporate by way of an escrow mechanism.
The cash that AGS receives can be used to cut back current money owed, in keeping with the draft pink herring prospectus. AGS is planning to file the pink herring prospectus (RHP) with the Registrar of Firms (ROC) this week, in keeping with bankers.
The corporate had almost 221,000 Level of Sale (POS) terminals deployed as of August 31, 2021, of which about 180,000 terminals had been positioned at retail and company shops, and over 37,000 had been positioned at petrol pumps.
AGS posted income of ₹1,759 crore for the yr ended March 31, 2021, which was 2% decrease than FY20. Its internet earnings declined 34% in FY21 to ₹54.79 crore in comparison with ₹83 crore in FY20.