Meanwhile, shares of Protean eGov Technologies Ltd are avilable for commerce in gray market now. According to market observers, shares of Protean eGov Technologies Ltd can be found at a premium of ₹180 in gray market at the moment.

1] Protean eGov Technologies IPO GMP: Shares of Protean eGov Technologies Ltd are availagle at a premium of ₹180 in unlisted stock market, say market observers.

2] Protean eGov Technologies IPO price: The e book construct situation has been supplied at a value band of ₹752 to ₹792 per fairness share.

3] Protean eGov Technologies IPO subscription date: The public situation has opened at the moment and it’ll stay open for bidding until eighth November 2023.

4] Protean eGov Technologies IPO size: The firm goals to lift ₹490.33 crore from its public supply, which is totally supply on the market (OFS) in nature.

5] Protean eGov Technologies IPO lot measurement: A bidder will be capable of apply in heaps and one lot includes 18 firm shares.

6] Protean eGov Technologies IPO allotment date: In the wake of T+3 itemizing schedule, almost definitely date for finalisation of share allocation is ninth November 2023.

7] Protean eGov Technologies IPO registrar: Link Intime India Private Ltd has been appointed as official registrar of the general public situation.

8] Protean eGov Technologies IPO itemizing: The public supply is proposed for itemizing on BSE and NSE.

9] Protean eGov Technologies IPO itemizing date: In the wake of T+3 itemizing schedule, almost definitely date for Protean eGov Technologies IPO itemizing is thirteenth November 2023.

Protean eGov Technologies IPO: Should you apply?

10] Protean eGov Technologies IPO evaluation: Giving ‘subscribe’ tag for itemizing acquire, Arun Kejriwal, Founder at Kejriwal Research and Investment Services mentioned, “The company is the pioneer and market leader in universal, citizen-centric and population scale e-governance solutions. It has 25 years’ experience in creating digital public infrastructure. The company is tapping the capital markets with its offer for sale of 61.91 lac shares in a price band of ₹752-792. The issue would open on Monday the 6th of November and closes on Wednesday the 8th of November. The company had earned an EPS of ₹26.48 on a fully diluted basis for the year ended March 23. The PE ratio for the issue is 28.40-29.91. One of the selling shareholders is IIFL Special Opportunities Fund who had invested at a price of ₹950.10 some 6-7 years ago.

The primary market expert went on to add that the fact that this fund has not made money and is partly exiting the company at this price making a loss is comforting for investors, as it gives the signal that the company has been revalued based on its present business and performance. Looking at the pace of digitisation in India and the widespread use of the same, there is scope for appreciation. He said that one can apply for the public issue for listing gains.

Advising investors to apply for the public offer, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Even although the difficulty is totally OFS, the corporate has improved its enterprise mannequin and it has nearly monopoly enterprise in digital UPI transactions. So, the difficulty is predicted to obtain sturdy response and should checklist at good-looking premium. However, my suggestion to traders is to go deep and make investments for medium to long run time horizon.”

Swastika Investmart has also given ‘May Apply’ tag to the public issue.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

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Updated: 06 Nov 2023, 09:21 AM IST