Protean eGov Technologies IPO to open on November 6; Check 10 key things to know
Protean eGov Technologies IPO: Protean eGov Technologies, previously known as NSDL e-Governance Infrastructure, will launch its initial public offering (IPO) on Monday, November 6.
The company, which provides e-governance solutions, plans to raise ₹490.33 crore from its maiden public offer.
Ahead of the opening of the bidding process, here are 10 key things to know about Protean eGov Technologies IPO.
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Protean eGov Technologies IPO: Key things to know
Protean eGov Technologies IPO Dates: Protean eGov Technologies IPO opens for public subscription on Monday, November 6, and will close on Wednesday, November 8.
Protean eGov Technologies IPO Price Band: The IPO price band has been set at ₹752 to ₹792 per share.
Protean eGov Technologies IPO Details: At the upper end of the price band, the Protean eGov Technologies IPO is expected to fetch ₹490.33 crore. The maiden public issue is purely an offer of sale (OFS) of 61.91 lakh equity shares by the existing shareholders.
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Protean IPO Lot Size: The IPO lot size is 18 equity shares and the minimum investment amount required by retail investors is ₹14,256.
Protean eGov Technologies IPO Anchor Investors: Protean eGov Technologies Ltd has already allotted 18.12 lakh equity shares to 18 anchor investors and raised ₹143.53 crore ahead of the proposed IPO. The company has issued shares at the upper price band of ₹792 per equity share.
Societe Generale, SBI General Insurance Company, SBI Life Insurance Company, Aditya Birla Sun Life Insurance Company, LIC Mutual Fund and Baroda BNP Paribas Mutual Fund are among the Protean eGov Technologies IPO anchor investors.
Read here: Protean eGov Technologies IPO: Firm mobilises ₹143.5 crore from anchor investors ahead of issue
Protean eGov Technologies IPO Listing: Protean eGov Technologies shares will be listed on BSE with a tentative listing date fixed on November 17.
Protean IPO Reservation: In the IPO, the company has reserved up to 50% of the net issue for Qualified Institutional Buyers (QIB), up to 35% for Retail Investors and 15% for Non-Institutional Investors (NII). The offer also includes a reservation of 1.5 lakh equity shares for the company’s employees who are offered a discount of ₹75 per share to the final offer price.
Protean IPO Objectives: Since the IPO is completely an OFS, the company will not receive any proceeds from the offer and the entire proceeds will go to the selling shareholders of the company.
Also Read: Protean eGov Technologies IPO: From price band to issue size, here’s what you need to know
Protean eGov Technologies IPO Lead Manager, Registrar: ICICI Securities, Equirus Capital Private, IIFL Securities and Nomura Financial Advisory And Securities (India) Pvt Ltd are the book running lead managers of the Protean eGov Technologies IPO, while Link Intime India Private Ltd is the IPO registrar.
Protean eGov Technologies IPO GMP Today:
Protean eGov Technologies IPO GMP today, or grey market premium today, is ₹130 per share, as per market observers. This indicates that the equity shares of Protean eGov Technologies Ltd are trading higher by ₹130 apiece than their issue price in the grey market.
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Updated: 04 Nov 2023, 04:34 PM IST
