Protean eGov Technologies share price makes a flat debut; shares list at ₹792 apiece on BSE

Protean eGov Technologies IPO listing date: Protean eGov Technologies share price made a flat debut on the BSE on Monday. On BSE, Protean eGov Technologies Limited share price was listed same as the issue price of ₹792. Following a flat debut, Protean eGov share price gained over 2%. At 10:01 IST, Protean eGov shares were trading at ₹810 per share, up 2.27%. 

Protean eGov Technologies IPO price band was set at ₹752-792 per equity share of a face value of ₹10 each, and the lot size is 18 equity shares and in multiples of 18 equity shares thereafter.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Also Read: Protean eGov Technologies Limited IPO listing date today. What GMP, experts signal 'positive' debut of shares

Protean eGov Technologies IPO saw significant interest from investors on the final day of bidding. Overall, the IPO received bids for 110,44,65,250 shares on the final day as against the 43,78,700 shares available for subscription, translating into a subscription rate of 23.86 times.

Also Read: Protean eGov Technologies IPO Day 3: Issue subscribed to 23.86 times; QIB, NII portions see huge demand

The net offer is reserved for qualified institutional buyers at 50% of the total offer size, non-institutional investors at 15%, and retail investors at 35%.

Protean eGov Technologies IPO opened for subscription on Monday, November 6, and closed on Wednesday, November 8.

Also Read: Protean eGov Technologies Limited IPO allotment declared. GMP, listing date, how to check allotment status online

Protean eGov Technologies IPO details

The total offer size of Protean eGov IPO comprises of offer for sale (OFS) up to 6,191,000 equity shares by the selling shareholders. Protean eGov Technologies IPO plans to fetch ₹490.33 crore.

The OFS comprises of up to 459,617 equity shares by 360 One Special Opportunities Fund, up to 320,177 equity shares by 360 One Special Opportunities Fund –Series 2, up to 148,197 equity shares by 360 One Special Opportunities Fund –Series 3, up to 396,843 equity shares by 360 One Special Opportunities Fund –Series 4, up to 309,225 equity shares by 360 One Special Opportunities Fund –Series 5, up to 1,783,395 equity shares by NSE Investments Limited, up to 243,175 equity shares by Administrator of the Specified Undertaking of the Unit Trust of India, up to 705,674 equity shares by HDFC Bank Limited, 712,077 equity shares by Axis Bank Limited, up to 712,077 equity shares by Deutsche Bank A.G. and 400,543 equity shares by Union Bank of India, according to RHP.

Protean eGov Technologies in its RHP has stated that the company is a professionally managed company and does not have any identifiable promoter in terms of the SEBI ICDR Regulations and the Companies Act.

The book running lead managers of the Protean eGov Technologies IPO are ICICI Securities Ltd, Equirus Capital Private Ltd, Iifl Securities Ltd, and Nomura Financial Advisory And Securities (India) Pvt Ltd. The issue's registrar is Link Intime India Private Ltd.

Also Read: Protean eGov Technologies Limited IPO listing date today. What GMP, experts signal 'positive' debut of shares

Protean eGov Technologies IPO GMP today

Protean eGov IPO GMP today or grey market premium is +48. This indicated Protean eGov Technologies share price were trading at a premium of ₹48 in the grey market on Monday, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Protean eGov Technologies share price was indicated at ₹840 apiece, which is 6.06% higher than the IPO price of ₹792.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Protean eGov Technologies IPO bidding ends today: Check GMP, subscription status and brokerage reviews

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.