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Protean eGov Tech IPO to open on November 6. Here are 10 things to know about the offer
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- What is the business overview of Protean eGov Technologies?
Protean eGov Technologies is a leading IT-enabled solutions company engaged in conceptualizing, developing and executing nationally critical and population scale greenfield technology solutions. The company collaborates with the government and has extensive experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions. - What is the industry overview of Protean eGov Technologies?
E-governance is the use of ICT to conduct government business and provide public services. The strategic objective of e-governance is to support and simplify governance for all parties: government, citizens and businesses. The growth will be led by technology and platform upgradation, and e-governance initiatives of the central and state governments. - What is the size of Protean eGov Technologies IPO?
The issue is completely an offer for sale of 61.9 lakh shares. - Who are the selling shareholders under OFS in Protean eGov Technologies IPO?
Under the OFS, 360 One Special Opportunities Fund, NSE Investments, HDFC Bank, Axis Bank, Deutsche Bank among others will offload their partial stakes. - What is the price band for Protean eGov Technologies IPO?
The company fixed a price band of Rs 752-792 per share, and at the upper end, it plans to raise Rs 490 crore. - What is the structure of Protean eGov Technologies IPO?
About 50% of the issue size has been reserved for qualified institutional investors, 35% for retail investors, and the remaining 15% for non-institutional investors. Also, the offer includes a reservation of 1.5 lakh equity shares for the company's employees at a discount of Rs 75 per share to the final offer price. - How is the financial
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