MUMBAI, March 26 (Reuters) - Indian payment solutions provider AGS Transact Technologies Ltd is aiming to conclude its up to 13.5 billion rupees ($215.8 million) initial public offer (IPO) by September, two bankers involved in the process told Reuters.
The expected timing comes after a term sheet seen by Reuters on Wednesday showed AGS planned to raise up to 4 billion rupees by issuing new shares, while U.S. private equity firm TPG Capital and other shareholders would raise up to 9.5 billion rupees selling existing shares.
A separate draft prospectus filed with the Indian market regulator showed the company and selling shareholders are considering placing up to 2 billion rupees worth of shares with anchor investors ahead of the IPO.
The proceeds will be used for the repayment of loans and general corporate purposes, the preliminary prospectus showed.
($1 = 62.5700 Indian rupees) (Reporting by Abhishek Vishnoi; Editing by Anand Basu)