AGS Transact Technologies Limited — Others, 12-11-2024: Monitoring Agency Report

AGS Transact Technologies Limited's Monitoring Agency Report for the quarter ended September 30, 2024, issued by CRISIL Ratings, indicates that the company successfully raised ₹159.36 crore through a preferential issue of convertible warrants. The total proceeds were reduced from the anticipated ₹199.99 crore due to undersubscription, with only 25% of the issue price received to date. Funds are earmarked primarily for working capital, repayment of loans, and corporate purposes. The report confirms that utilization aligns with the approved objectives, offering a positive outlook. However, the remaining ₹119.52 crore must be collected within eighteen months, presenting a potential risk if targets are not met.