Sunday, December 10, 2023

Protean eGov Technologies IPO share allotment to be finalised tomorrow. Here’s how you can check status

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The share allotment of Protean eGov Technologies IPO is expected to be finalised on Friday. Investors received shares on a lottery basis and the whole process was supervised by the registrar.On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar’s website. Here’s how you can check the status on BSE.

Step 1: Visit the BSE WebsiteStep 2: Please select the issue name, that is the company’s name in the drop-down.

Step 3: Enter the application number or PAN number to check the allotment status.

The company’s shares are expected to get listed on the exchanges on November 13. According to market sources, Protean eGov Technologies is commanding a premium of Rs 94 in the unlisted market.

Considering the upper price band of Rs 792, the stock is likely to debut with a premium of 12%.The IPO of Protean eGov Technologies received a strong response from investors with nearly 24 times subscription at close.

Protean eGOV Technologies is a leading IT-enabled solutions company engaged in conceptualizing, developing and executing nationally critical and population-scale greenfield technology solutions. It has over 25 years of experience in creating digital infrastructure and governance solutions.

The company has enabled 19 nationally critical e-governance stacks while working with 7 ministries across diverse sectors.

For the three months ended June 2023, the company’s revenue from operations rose 40% to Rs 220 crore, while profit jumped 52% to Rs 32.2 crore.

The selling shareholders will be entitled to receive the entire proceeds of the offer as there is no fresh issue component.

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