Protean eGov Technologies (NSDL): Check The Subscription Status and Allotment Date

In recent news, the initial public offering (IPO) of Protean eGov Technologies Ltd, formerly NSDL e-Governance Infrastructure, made quite an impression in the investment world. The IPO, priced in a band of Rs 752-792, with a size of Rs 490 crore, was fully subscribed on the first day of its offering. The active participation of non-institutional and retail investors is the reason for this venture’s solid demand.

Issue Details: Allotment, Refund, and Listing Date

Protean eGov Technologies IPO Subscription Status

The IPO received bids for a remarkable 47.16 lakh shares, exceeding the initial offering of 43.78 lakh. This enthusiastic response resulted in a subscription rate of 1.08 times, as reported by BSE. Notably, the retail segment of the IPO demonstrated exceptional demand, boasting a subscription rate of 1.50 times.

On the other hand, the non-institutional investors (NIIs) segment also garnered substantial interest, with a subscription rate of 1.65 times. However, the employee and qualified institutional buyers (QIB) portions received a comparatively lower response, with 1% and 31% subscription rates, respectively. The IPO’s subscription period is set to conclude on November 8.

Protean eGov Technologies IPO Allotment Status

The allotment status will be available once the basis of the allotment is confirmed. However, considering that Protean plans to list on BSE, here are the steps to follow

Checking Allotment Status on BSE

Follow these steps:

• Visit the official BSE allotment page here.
• Select Equity under ‘Issue Type.’
• Under ‘Issue Name.’ choose the IPO from the drop-down option
• Enter the application number or PAN
• Click ‘I am not a Robot’ to confirm your identity, then
• Click the ‘Submit’ button.

Offering and Shareholders

The IPO comprises a total offer size of 61.91 lakh shares, with selling shareholders including Union Bank of India, 360 One Special Opportunities Fund, HDFC Bank, Axis Bank, Deutsche Bank AG, NSE Investments, and the Administrator of the Specified Undertaking of the UTI. Additionally, the company has reserved 1.5 lakh equity shares for its employees, who enjoy a Rs 75 per share discount compared to the final issue price.

It’s important to note that the issue, excluding the employees’ shares, forms the net issue. Qualified institutional buyers are allotted 50% of the net issue size, while high-net-worth individuals (non-institutional investors) secure 15%, leaving 35% for retail investors. The portion designated for NIIs was oversubscribed at 1.65 times, while that for retail investors witnessed a robust demand at 1.5 times. QIBs have yet to bid, and the employees’ quota was subscribed 0.31 times.

Anchor Investors

Before its IPO, Protean eGov Technologies allocated 18,12,300 shares to anchor investors at Rs 792 apiece, raising Rs 143.5 crore. The anchor book included prominent names like ACM Global Fund VCC, SBI Life, Baroda BNP Paribas MF, Aditya Birla Sun Life, Societe Generale, Astorne Capital VCC – Arven, GAM Multistock-Emerging Markets Equity, LC Radiance Fund VCC, and BCAD Fund.

Company Profile

Protean eGov Technologies boasts a commendable track record of over 25 years in creating digital infrastructure and governance solutions. The company has enabled 19 nationally critical e-governance projects while collaborating with seven ministries across diverse sectors.

The company’s portfolio includes modernizing the direct tax infrastructure, PAN processing, the Tax Information Network, strengthening the old-age security system (under the National Pension System-NPS), and enabling a universal social security system for all Indians (under the Atal Pension Yojana). Furthermore, it is a leading contributor to the open-source community and protocols that power the Open Network for Digital Commerce (ONDC).

Protean eGov Technologies IPO has garnered significant attention and investment interest due to its remarkable track record and potential in the digital infrastructure and e-governance sectors. With an impressive subscription rate and strong demand from retail and non-institutional investors, it’s an IPO that investors should keep a close eye on.

*Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

FAQs

Archana Chettiar

+ posts

I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.

• Archana Chettiar

  https://www.equentis.com/blog/author/archana/

  5 Essential Steps To Managing Financial Windfall Gains
• Archana Chettiar

  https://www.equentis.com/blog/author/archana/

  Greensheet: What It Means and How It Works?
• Archana Chettiar

  https://www.equentis.com/blog/author/archana/

  Financial Literacy: What It Is, and Why It Is So Important to Teach Teens
• Archana Chettiar

  https://www.equentis.com/blog/author/archana/

  Analyzing Liquidity: A Comprehensive Guide to the Quick Ratio