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Protean eGov Tech IPO receives full subscription on Day 1 of offer
The Initial Public Offering (IPO) of Protean eGov Technologies received full subscription on the first day of share sale on Monday.
The initial share sale received bids for 46,91,250 shares against 43,78,700 shares on offer, translating into 1.07 times subscription, as per NSE data.
The portion for Retail Individual Investors (RIIs) was subscribed 1.49 times while non institutional investors quota got subscribed 1.65 times. The category for Qualified Institutional Buyers (QIBs) received 1 per cent subscription
Protean eGov Technologies (formerly known as NSDL E-Governance Infrastructure) on Friday said it has mobilized a little over Rs 143 crore from anchor investors.
The public issue is purely an offer of sale (OFS) by existing shareholders. The OFS size has been reduced to 61.91 lakh equity shares from 1.28 crore equity shares planned earlier.
Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders and the company will not receive any funds fr