The surprise factor in AGS Transact’s IPO and Nirmala Sitharaman’s budget feat

Two ATM & cash management firms see strong investor interest and big tax mop-up comes to FM’s aid.

Ashwin here. The surprisingly bright start to ATM management firm AGS Transact Technologies’s IPO goes against the popular belief that cash is no longer king. Its peer CMS Info has already made a successful debut in the market, and a third cash management company, Radiant Cash, is set to join them. What’s the lure for investors? Someone else has shown deft management of cash. Finance minister Nirmala Sitharaman has pulled off a feat that few of her predecessors managed. It’s a good thing leading up to the Union Budget in a fortnight. But there’s a question. Read on.

For investors, …


Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

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Ashwin Manikandan

Ashwin covered fintech and banking at The Morning Context. Previously, he was at The Economic Times, where he worked across the finance, tech and startup verticals, breaking stories related to India’s banking system, startups in the new economy, digital payments, insurance and cryptocurrencies.