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

livemint.com:

Protean IPO: Listing date of the initial public offering (IPO) of Protean eGov Technologies Limited has been fixed on 13th November 2023 i.e. today.

As per the information available on BSE website, "...effective from Monday, November 13, 2023, the equity shares of Protean eGov Technologies Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities." The BSE notice went on to add that shares of Protean eGov Technologies Limited will list on BSE and NSE in special pre-open session during Monday deals. According to stock market experts, retail investors couldn't understand the business model and sustainability of the business revenue of Protean eGov Technologies Limited.

This got reflected in response of the retail investors. However, market experts maintained that Protean IPO will have a positive listing and Protean IPO listing would take place at around ₹30 to ₹40 per share premium.

Speaking on Protean eGov Technologies Limited IPO listing, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, "Except QIB and NII category, the public issue received response, which was below below expectations. In fact, retail investors are unable to understand the business model and revenue generation mechanism of the company.

And this is expected to continue in post-listing scenario as well. But, a section of investors have shown faith in the stock and hence I am expecting flat listing of shares." Asked about Prean IPO listing gain that an allottee can expect, Prashanth Tapse, Senior VP — Research at Mehta Equities said, "Considering the healthy subscription demand and optimistic market mood a decent 10% listing gain can be assumed against the issue price of ₹792 per