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Protean eGov Tech IPO subscribed 3.21 times on second day of offer
The initial public offer (IPO) of Protean eGov Technologies was subscribed 3.21 times on Day 2 of subscription on Tuesday.
The IPO received bids for 1,40,49,126 shares against 43,78,700 shares on offer, according to NSE data.
The category for non-institutional investors was subscribed 6.23 times while the quota for Retail Individual Investors (RIIs) received 3.88 times subscription. The portion for Qualified Institutional Buyers (QIBs) was subscribed 7 per cent.
The IPO of Protean eGov Technologies received a full subscription on the first day of the share sale on Monday.
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 se