Know particulars about Protean eGov Technologies IPO.
The Protean eGov Technologies IPO allotment will open for public subscription on November 6, and can conclude on November 8
Protean eGov Technologies IPO: The preliminary public providing of Protean eGov Technologies (previously often known as NSDL E-Governance Infrastructure) goes to open for public subscription on November 6, and can conclude on November 8. The value band of the Rs 490-crore IPO has been fastened at Rs 752-792 per share.
The anchor e-book of the provide shall be opened for a day on November 3. The IPO allotment will happen on November 13, whereas the share itemizing is prone to happen on November 17.
Protean eGov Technologies IPO GMP Today
According to market observers, Protean eGov Technologies is presently buying and selling Rs 111 increased within the gray market. The Rs 111 gray market premium or GMP is about 14.02 per cent increased than its higher challenge value of Rs 792 per share. This means the gray market is anticipating a 14.02 per cent itemizing acquire from the general public challenge.
‘Grey market premium’ signifies buyers’ readiness to pay greater than the problem value.
About Protean eGov Technologies IPO
The Protean eGov Technologies IPO is only a proposal-for-sale (OFS) by current shareholders. The OFS dimension has been lowered to 61.91 lakh fairness shares from 1.28 crore fairness shares deliberate earlier. Also, the provide features a reservation of 1.5 lakh fairness shares for the corporate’s staff at a reduction of Rs 75 per share to the ultimate provide value.
Those providing shares within the OFS are — IIFL Special Opportunities Funds, NSE Investments, Administrator of the Specified Undertaking of the Unit Trust of India, HDFC Bank, Axis Bank, Deutsche Bank AG, Punjab National Bank, and Union Bank of India. At the higher finish of the worth band, the IPO is anticipated to fetch Rs 490.33 crore.
Since the IPO is totally an OFS, the complete proceeds will go to the promoting shareholders and the corporate is not going to obtain any funds from the problem. Half of the problem dimension has been reserved for certified institutional buyers, 35 per cent for retail buyers, and the remaining 15 per cent for non-institutional buyers.
Further, buyers can bid for at least 18 fairness shares and in a a number of of 18 fairness shares thereafter. Protean eGov Technologies is among the key IT-enabled answer firms in India engaged in conceptualizing, creating, and executing nationally important and inhabitants-scale greenfield know-how options.
The firm collaborated with the federal government and has intensive expertise in creating digital public infrastructure and creating revolutionary citizen-centric e-governance options. Originally arrange as a depository in 1995, it created a systemically vital nationwide infrastructure for capital market growth in India.
For the three months ended June 30, 2023, the corporate posted a revenue after tax (PAT) of Rs 32.21 crore and a income from operation of Rs 220.4 crore. ICICI Securities, Equirus Capital, IIFL Securities, and Nomura Financial Advisory and Securities (India) are the e-book-operating lead managers to the problem.
Shares of the corporate shall be listed on the BSE.
