₹792. It rose as much as 12.5% during the day, before trimming some of the gains to close at ₹883. “Seven of the company’s 15 investors sold a small portion of their stakes to help achieve the listing status, but all existing shareholders are invested and believe in the company’s growth story," Protean eGov Technologies Ltd’s managing director and chief executive, Suresh Sethi told Mint. “The price band was set after taking inputs from shareholders and investors.
The book running lead manager recommended the pricing," he added. The firm secured ₹490.33 crore through the offer for sale and NSE Investments, NSE’s investment arm, logged the biggest profit of at least ₹131.4 crore among selling shareholders .Protean eGov issued shares at just ₹55 to NSE Investments. HDFC Bank and Axis Bank, which acquired the shares for ₹49.50 and ₹112, made profits of ₹52 crore and ₹48 crore, respectively.
The only selling shareholder to have made a loss of ₹26 crore is 360 One Special Opportunities Funds (formerly known as IIFL Special Opportunities Funds) which had acquired Protean eGov shares at a much higher price of ₹950.10 per share. Protean eGov Technologies Limited is a Indian IT company that provides digital e-governance solutions to government agencies. It was founded in 1995 as the National Securities Depository Limited (NSDL), and was rebranded as Protean eGov in 2020.
On Monday, the company had a total traded quantity of 5.93 million shares. The deliverable quantity (gross across client level) was 2.25 million shares, which is 37.94% of the traded quantity. Protean eGov Technologies Ltd raised ₹ 143.5 crore from anchor investors ahead of its initial public offering.
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