Transact Player Atm Player Debt Technologies is in conversations to sell a majority participation in its Indian Digital Payment Subsidiary Transact Services (ITSL) to the Patanjali group, the sources said, since it seems to raise funds after their qualification.
“There are advanced leg conversations between the promoter and Patanjali for selling STIS. ITSL has about ₹ 30 million debts, which Patanjali can pay the lenders with a little more premium to the promoter,” said a source.
Another source said that there have been conversations with multiple interested vidders and that a final announcement could come from Ags Transact. ITSL is dedicated to payment transactions and the merchant acquisition business. It also sacrifices a payment processing platform to enrut commercial and retail payments between buyers and vendors throughout the country through a distribution model.
Key metric
ITSL had 2.48 LKH of point of sale terminals as in H1Fy25, and the registered gross transaction value (GTV) or ₹ 7,186 million rupees in the same period. In fiscal year24, the GTV stood at ₹ 21,788 Lakh Crore. With a possible acquisition, Patanjali could expand its reach to several merchant points throughout the country. Patanjali, in 2024, had also launched a shared brand prepaid card in association with ITSL.
Separately, according to the sources coded previously, AGS is also looking to sell ‘atm switch’ vertical business to Indian payments 1. India 1 is an automatic white -label ATM operator, promised by Banktech Group Pty Ltd. & Bti Payments Singapore Pte Ltd. However, the conversations between the two parties have not yet reached an advanced stage. Ags Transact, Patanjali and India 1 Payments did not respond to Business line Consultations until the press of the press.
Qualification reduction
In February of this year, the Crisil qualification reduced the qualification of AGS Transacta ₹ 900 million rupees in the installation of bank loans to ‘d’ or garbage from ‘A’, since it delayed the payment of its loan.
“The qualification reduction reflects the delays by AGS in the service of the interest and debt obligations in term loans and the invoice discount installation in December 2024 and January 2025. The company has not yet revealed any instance of delay or breach. They have an adequate average to support the debt obligations nearby by 2024 in December 2024 in its declaration of breach presented in November 2024 “, said the chry -grades.
As for interactions with AGS’s management, Crisil said he believes that the company’s liquidity has deteriorated sharply in the last 2-3 months due to the delay in collection of collection, since AGS could not meet the service level funds. Despite a repeated follow -up with AGS for more details, the agency said it has not yet resorted to any detail about AGS’s deficiencies to fulfill its SLA. Banks, who used AGS ATM services, also transferred their commercial contracts to other players such as Hitachi and CMS.
Posted on April 11, 2025