Protean eGov Tech Shares Make Muted Market Debut

During the morning trade, the company was valued at Rs 3,288.52 crore in the market. Protean eGov Technologies' Initial Public Offer (IPO) was subscribed 23.86 times on Wednesday, the last day of subscription. The IPO, which was priced between Rs 752-792 per share, had a total value of Rs 490 crore.

Press Trust of India

Updated on: 13 November 2023 12:20 pm

Shares of Protean eGov Technologies made a flat debut on Monday, listing at par with the issue price of Rs 792.

The stock made its debut at Rs 792 on the BSE. Later, it climbed 3.91 per cent to Rs 823.

The company commanded a market valuation of Rs 3,288.52 crore during the morning trade.

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The Initial Public Offer (IPO) of Protean eGov Technologies was subscribed 23.86 times on the last day of subscription on Wednesday.

The Rs 490 crore IPO had a price band of Rs 752-792 per share.

The public issue of Protean eGov Technologies (formerly known as NSDL E-Governance Infrastructure) was purely an Offer of Sale (OFS).

Protean eGov Technologies is one of the key IT-enabled solution companies in India engaged in conceptualising, developing, and executing nationally critical and population-scale greenfield technology solutions.

The company collaborated with the government and has extensive experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions.

Originally set up as a depository in 1995, it created a systemically important national infrastructure for capital market development in India.