Protean eGov Technologies IPO Day 3: Issue subscribed to 23.86 times; QIB, NII portions see huge demand
₹490 crore from the capital markets, which is a complete offer for sale (OFS). Also Read: ASK IPO day 2: Issue subscribed 1.34 times, retail, NII portion fully booked On the final day of subscription (November 08), the robust demand from the retail segment continued, with the subscription rate reaching 8.93 times.
The non-institutional investors (NIIs) also showed strong interest, as the subscription in the segment reached 31.62 times, while the QIB segment subscription stood at 46.94 times. The employee portion was booked 1.49 times.
Also Read: ESAF IPO allotment to be out soon; here's how to check allotment status Overall, the IPO received bids for 10,44,64,116 shares on the final day as against the 43,78,700 shares available for subscription, translating into a subscription rate of 23.86 times. The price band for the offer has been fixed at ₹752–792 per equity share, with a face value of ₹10 each.
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%. Also Read: Kalyani Cast Tech IPO: Issue fully subscribed on first day; check latest GMP, other key things to know Protean eGov Technologies is engaged in conceptualising, developing, and executing nationally critical and population-scale greenfield technology solutions.
It collaborates with the government and has extensive experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions. Also Read: Stellar Debut: SAR Televenture share price lists at 90% premium at ₹105 on NSE SME The company was originally set up as a depository in 1995 and created a systemically important national infrastructure for capital market
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