AGSTRA

** AGS Transact Technologies AGST.NS falls exchange-allowed maximum of 5% to 13.21 rupees, a record low

** Digital and cash-based solutions provider says it has migrated half of its ATMs back to banks and merchant service providers to minimize disruption

** Stock set to fall for 28th consecutive session, of which it has fallen exchange-allowed maximum in last 25 straight sessions

** Earlier this month, AGST and its units defaulted in paying 385.9 mln rupees ($4.4 mln) in dues to creditors

** Co faced insolvency proceedings from Maxwel Aircon India, one of its creditors, over alleged unpaid dues

** AGST loses ~80% in 2025

(Reporting by Vijay Malkar)

(([email protected];))

March 11 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• AGS TRANSACT TECHNOLOGIES LTD - UNIT ACTIVELY WORKING WITH BANKING CUSTOMERS TO SUPPORT OPERATIONS ACROSS ATM NETWORK

• AGS TRANSACT TECHNOLOGIES - MIGRATED AROUND 50% ATMS IN NETWORK TO BANKS, MSPS NETWORKS TO ENSURE MINIMIZE DISRUPTION

• AGS TRANSACT TECH - COMMITTED TO GRADUALLY RESUME OPERATIONS ACROSS NETWORK

• AGS TRANSACT TECH - WILL CONTINUE TO CONSIDER MIGRATING ATMS WHEREVER NECESSARY

Source text: [ID:]

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** Shares of AGS Transact Technologies AGST.NS fall 5% to maximum-allowed limit of 15.4 rupees, marking a new record low

** Stock eyes 26th straight session of falls

** Payment solutions operator and its units defaulted in paying obligations worth 385.9 mln rupees ($4.4 mln) to creditors

** Stock has hit lower circuit everyday since February 4, after CRISIL Ratings downgraded co's rating to CRISIL D from CRISIL A/Stable

** Stock down 75% so far this year, eyes worst year since trading debut in 2022

($1 = 87.1630 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

Corrects Crisil's and India Ratings' downgrades in second bullet

MUMBAI, March 3 (Reuters) - Indian payments services firm AGS Transact Technologies AGST.NS said on Saturday that a creditor plans to initiate insolvency proceedings against the company for non-payment of dues.

Maxwel Aircon India Private Limited, an operational creditor of the company, has alleged default in repayments and sought an initiation of corporate insolvency in the National Company Law Tribunal, AGS Transact said in an exchange filing. Maxwel Aircon did not immediately respond to Reuters' request for comment.

"The company is seeking appropriate legal advice and will take all appropriate steps to protect its interest in the aforesaid matter," AGS Transact said.

AGS Transact provides digital and cash-based solutions to banks and corporate clients, including ATM services.

The troubled firm defaulted on its dues in the last few months, leading to at least two credit rating downgrades and an exodus of all four of its independent directors, who cited personal reasons.

The company, along with a unit involved in replenishing ATM machines with cash, had defaulted on dues, including loans, totalling 7.26 billion rupees ($83.1 million), according to exchange filings.

Credit rating agency Crisil flagged the default and lowered the rating for the company's debt on February 4, and India Ratings downgraded its credit rating for the company on February 5, indicating it could potentially default on its debt payments. The company disclosed the default a week after Crisil's downgrade.

The agencies cited a delay in receivables as the company was not able to meet the service-level agreements with its customers, which led to a sharp deterioration in liquidity, causing the company to miss interest payments on term loans in December and January.

AGS Transact's shares were last down 5%, extending their streak of hitting the exchange-allowed maximum limit, which started on February 4. The stock has slumped 62.4% to a record low of 18.97 rupees during the period.

The delay also led AGS Transact to report a loss in the December quarter, with its auditor raising doubts over the company's ability to continue as a going concern.

IndusInd Bank, Investec Bank, Aditya Birla Finance, IDFC First Bank, SBM Bank (India), State Bank of India, Bandhan Bank, HDFC Bank, Dhanlaxmi Bank, SBI Global Factors, Bajaj Finance, and Federal Bank are its lenders. The lenders could not immediately be reached for comments.

($1 = 87.3375 Indian rupees)

(Reporting by Siddhi Nayak and Kashish Tandon; Editing by Varun H K)

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** AGS Transact Technologies AGST.NS falls exchange-allowed max of 5% to a record low of 28.6 rupees

** Stock set for 14th straight session of declines, its longest losing streak since listing in January 2022

** Payment solutions operator among India's largest players in cash management space, with 15% market share

** Lenders expected to classify AGST as non-performing asset, which will open it up to the threat of insolvency, MoneyControl reports

** Co's Q3 consol net loss widens to 1.94 bln rupees ($22.3 mln) vs year-ago loss of 153.8 mln rupees; rev from ops down 44% y/y

** Says co faced liquidity challenges in nine months ended Dec. 31, 2024; adds lower rev impacted liquidity, operations

** AGST drops 56% so far this year

($1 = 86.9425 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

Dec 16 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• AGS TRANSACT TECHNOLOGIES LTD - TO EVALUATE 20% STAKE SALE IN SECUREVALUE INDIA

• AGS TRANSACT TECHNOLOGIES - TO EVALUATE 26% STAKE SALE IN INDIA TRANSACT SERVICES

Source text: ID:nBSE1JwjVl

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** Shares of AGS Transact Technologies AGST.NS rise 2.3% to 81.05 rupees

** The payment solutions provider will start pilot of instant national common mobility card solution 'Ongo Ride' in Mumbai

** Ongo is a digital payments platform, which can be used on Mumbai's national common mobility card enabled buses and metro rail network

** Trading vols at 548,751, about 1.2x 30-day average

** AGST stock down ~12%, YTD

(Reporting by Vijay Malkar)

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Dec 2 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• AGS TRANSACT TECHNOLOGIES - WILL COMMENCE PILOT OF 'ONGO RIDE' IN MUMBAI

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Nov 22 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• AGS TRANSACT - SECURES APPROVAL TO EXTEND NCMC ACROSS ALL CHENNAI METRO STATIONS

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Oct 31 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• SEPT-QUARTER CONSOL NET PROFIT 151.7 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 3.52 BILLION RUPEES

Source text: ID:nNSE9fcY1K

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Oct 23 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• AGS TRANSACT TECHNOLOGIES - ENABLES UPIQR-BASED CASH WITHDRAWALS ON ATMS OF A PUBLIC SECTOR BANK

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** Shares of payment solutions provider AGS Transact Technologies AGST.NS rise 5.4% to 98.11 rupees

** Co says it got contract extension from Indian Bank INBA.NS for reconciliation of card and non-card transactions

** Says projected revenue from contract is 500 mln rupees ($6 mln) over three years

** Stock up 4.2% YTD

($1 = 83.9360 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

July 9 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• RENEWAL OF COMMERCIAL WITH LEADING PRIVATE SECTOR BANK IN INDIA

• COMMERCIALS PROJECTED TO GENERATE ABOUT 300 MILLION RUPEES IN ANNUAL REVENUE

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June 17 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• AGS TRANSACT TECHNOLOGIES - APPROVED ISSUANCE OF UPTO 2,52,36,500 CONVERTIBLE WARRANTS

Source text for Eikon: ID:nBSE3FBkgt

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June 12 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• AGS TRANSACT TECHNOLOGIES - COMMENCED DEPLOYMENT OF 1,350 ATMS, ORDER WON FROM STATE BANK OF INDIA IN FY24

• AGS TRANSACT TECHNOLOGIES - CO IS EXPECTED TO COMPLETE DEPLOYMENT BY H1FY25

• AGS TRANSACT TECHNOLOGIES LTD - COMPANY IS EXPECTED TO COMPLETE DEPLOYMENT BY H1FY25

Source text for Eikon: ID:nBSE51ZSyS

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May 29 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• RE-APPOINTS RAVI B. GOYAL AS MD

• APPROVED VARIOUS MODES AND OPTIONS FOR FUND RAISING UPTO 2 BILLION RUPEES

Source text for Eikon: ID:nBSEbmTqd0

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Jan 11 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• TO COMMENCE PILOT-TESTING OF OPEN-LOOP CONTACTLESS FUEL PAYMENT SOLUTION ON ONGO APP

• TO COMMENCE PILOT-TESTING OF OPEN-LOOP CONTACTLESS FUEL PAYMENT SOLUTION AT SELECT FUEL RETAIL OUTLETS IN MUMBAI

Source text for Eikon: ID:nBSE82WjDd

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** Shares of AGS Transact Technologies AGST.NS up 2.6% to 98.4 rupees

** Omni-channel payment solutions provider's unit announced completion of Dedicated Cash Vans deployment of order value ~2.5 billion rupees ($30.00 million)

** Stock above 50-. 100-, and 200- day moving averages for the 14th straight session

** More than 2.6 mln shares traded, 1.4x the 30-day avg

** Including session's gains, stock up 54% so far this year

($1 = 83.3275 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of AGS Transact Technologies AGST.NS rise as much as 10.6% to 86.65 rupees, highest since Oct. 27, 2022

** Co won 11 bln rupees ($132.1 mln) order from State Bank of India SBI.NS to deploy over 2,500 ATMs over seven years

** Stock on track to rise for fifth straight session, if trend holds

** Nearly 5.8 mln shares change hands as of 11:28 a.m. IST, 6.4X the 30-day moving average

** Stock last up 9.4%, taking YTD gain to ~35%

($1 = 83.2675 Indian rupees)

(Reporting by Varun Vyas)

(([email protected]))

Nov 3 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• APPROVED INVESTMENT IN FORM OF EQUITY IN UNIT INDIA TRANSACT SERVICES

• APPROVED INVESTMENT IN UNIT INDIA TRANSACT SERVICES UPTO 100 MILLION RUPEES

Source text for Eikon: ID:nBSE5dkjKS

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July 31 (Reuters) - AGS Transact Technologies Ltd AGST.NS:

• APPROVED PROVIDING OF CORPORATE GUARANTEE IN FAVOUR OF TATA CAPITAL FINANCIAL SERVICES

• CORPORATE GUARANTEE FOR SECURING WORKING CAPITAL TERM LOAN FACILITY OF UPTO 200 MILLION RUPEES AVAILED BY CO'S UNIT

Source text for Eikon: ID:nBSE8JW9rK

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