Protean eGov Technologies IPO.
Protean eGov Technologies IPO Listing: Shares witness a flat itemizing on the BSE at 792 per share as in contrast with the problem value of Rs 792 per share
Protean eGov Technologies IPO, which was opened for public subscription between November 6 and November 8, on Monday witnessed a flat itemizing on the BSE at 792 per share as in contrast with the problem value of Rs 792 per share. The shares, nonetheless, later rose and have been buying and selling up by Rs 25.55 or 3.23 per cent larger at Rs 817.55 on the BSE at 10.23 am.
The Rs 490-crore IPO acquired a whopping 23.86 occasions subscription on the ultimate day of subscription, receiving bids for 10,44,64,116 shares in opposition to 43,78,700 shares on supply. The class for retail particular person buyers (RIIs) acquired subscribed 8.93 occasions. The IPO of Protean eGov Technologies had obtained full subscription on the primary day of the share sale on Monday.
Ahead of the IPO, Protean eGov Technologies (previously generally known as NSDL E-Governance Infrastructure) mobilised somewhat over Rs 143 crore from anchor buyers.
The public difficulty was purely an Offer of Sale (OFS) by current shareholders. The OFS measurement was lowered to 61.91 lakh fairness shares from 1.28 crore fairness shares deliberate earlier.
Since the IPO was utterly an OFS, your entire proceeds will go to the promoting shareholders and the corporate won’t obtain any funds from the problem. The IPO had a value band of Rs 752-792 per share.
Protean eGov Technologies is among the key IT-enabled answer firms in India engaged in conceptualising, growing, and executing nationally essential and inhabitants-scale greenfield know-how options. The firm collaborated with the federal government and has in depth expertise in creating digital public infrastructure and growing modern 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. ICICI Securities, Equirus Capital, IIFL Securities and Nomura Financial Advisory and Securities (India) have been the managers to the supply.
Shares of the corporate might be listed on the BSE.
