Government Technology / e-Governance - Listed on 13 November 2023
Protean eGov Technologies (Government Technology / e-Governance) closed its IPO window in 2023 and listed on NSE and BSE on 13 November 2023 at an upper band issue price of Rs 792, opening at Rs 792 for a listing gain of 0.0% and closing day one at Rs 883 (+11.5% on closing basis). The IPO was subscribed 23.86x overall - QIB 46.94x, HNI/NII 31.62x, Retail 8.92x. The total issue size was Rs 489.95 Cr (Fresh Issue Rs 0 Cr, OFS Rs 489.95 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Government Technology / e-Governance
Protean eGov Technologies operates in the Government Technology / e-Governance space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Protean eGov Technologies issue was offered at an upper price of Rs 792 and raised approximately Rs 489.95 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 110 | +13.89% |
| Day 2 | Rs 110 | +13.89% |
| Day 3 | Rs 150 | +18.94% |
| Day 4 | Rs 110 | +13.89% |
| Day 5 | Rs 100 | +12.63% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Protean eGov Technologies IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Protean eGov Technologies IPO listed at 0.0% versus the upper issue price of Rs 792 on 13 November 2023.
Protean eGov Technologies IPO was subscribed 23.86x overall. QIB portion was subscribed 46.94x, HNI / NII 31.62x and Retail 8.92x.
IPO GMP started at Rs 110 on Day 1 and moved to Rs 100 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.