India: AGS promoters to buy back 42% stake held by TPG, Actis as IPO plans fail

AGS Transact Technologies Ltd’s promoters will buy back shares from private equity investors TPG Growth and Actis as the payments solution provider’s initial public offering (IPO) plans continue to be on the backburner, two people aware of the development said.

AGS promoters will buy back a 42% stake in the company from TPG Growth and Actis in a deal worth Rs650-850 crore, one of the two people cited above said on condition of anonymity.

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