Protean eGov Technologies IPO: Check final subscription, allotment date, allotment link here

9 Nov 2023 , 09:17 AM

Protean eGov Technologies witnessed substantial investor interest on the final day of its IPO bidding on November 8, with the subscription reaching a noteworthy 23.86 times. The response was overwhelming, as investors applied for 10.44 crore equity shares against an issue size of 43.78 lakh shares.

The major contributors to this oversubscription were the qualified institutional buyers and high net worth individuals, who bid significantly higher than their allocated shares at 46.94 times and 31.62 times, respectively. The reserved portion for employees was also fully subscribed at 1.49 times. These employees are entitled to 1.5 lakh equity shares at a discounted rate of Rs 75 per share, in relation to the final issue price.

In adherence to the T+3 timeline, the company is slated to announce the allotment results on November 10. The shares will subsequently be listed on both the NSE and BSE on November 13. Investors who applied for the Protean eGov Technologies IPO can check the allotment status on the BSE website or via the IPO registrar, Link Intime India. All applicants must provide their application number and PAN details to review their allotment status.

This public issue, which commenced on November 6, was exclusively an offer-for-sale (OFS) from several investors, including Deutsche Bank AG, 360 One Special Opportunities Fund, Union Bank of India, HDFC Bank, NSE Investments, and Axis Bank. As an OFS-only issue, the company will not receive any funds from the IPO.