Protean eGov Tech was listed at a flat level in the market, later the share rose by about 4%
The IPO of Proteus eGov Technologies was listed today. The company's IPO was listed in the stock market at a flat level i.e. its IPO price of Rs 792. However, by the time the news was written on BSE, the company's shares had risen by about 3.91 percent to Rs 823. The company had raised Rs 143.5 crore from anchor investors before the IPO.
The IPO of IT solutions company Protean eGov Technologies was listed in the stock market today. Before listing, experts had estimated that the company's shares could command a premium of Rs 30 to Rs 40.
However, proving this estimate wrong, the company's shares got listed at its IPO price of Rs 792 with a flat start.
The stock rose 3.91 percent to Rs 823 in its debut trade after listing on BSE. The market valuation of the company during morning trade was Rs 3,288.52 crore. Let us tell you that the IPO of Protein eGov Technologies was subscribed 23.86 times.
The company was open from 6 November to 8 November. The issue size of the offer was Rs 490.33 crore. The price band of this IPO was Rs 752 to Rs 792 per share.
Let us tell you that this IPO of the company was completely Offer for Sale (OFS). Proteus eGov Technologies is an IT solutions company engaged in the development of nationally significant and population-level greenfield technology solutions in the country.
Giving information, the company said that it had raised Rs 143.5 crore from anchor investors before the IPO.
Let us tell you that ICICI Securities, Equirus Capital, IIFL Securities, and Nomura Financial Advisory and Securities (India) are the book-running lead managers of this IPO.
