Protean eGov Tech shares settle with over 11 pc premium in debut trade

New Delhi: Shares of Protean eGov Technologies made a flat debut earlier in the day on Monday, listing at par with the issue price of Rs 792 and later ended with a premium of over 11 per cent. The stock made its debut at Rs 792 on the BSE. During the day, it jumped 12.48 per cent to Rs 890.90. Shares of the company ended at Rs 883 apiece, up 11.48 per cent. The company commanded a market valuation of Rs 3,571.45 crore.

On the BSE, 59.36 lakh shares of the company were traded during the day. The Initial Public Offer (IPO) of Protean eGov Technologies was subscribed 23.86 times on the last day of subscription on Wednesday. The Rs 490 crore IPO had a price band of Rs 752-792 per share. The public issue of Protean eGov Technologies (formerly known as NSDL E-Governance Infrastructure) was purely an Offer of Sale (OFS). Protean eGov Technologies is one of the key IT-enabled solution companies in India engaged in conceptualising, developing, and executing nationally critical and population-scale greenfield technology solutions.

The company collaborated with the government and has extensive experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions. Originally set up as a depository in 1995, it created a systemically important national infrastructure for capital market development in India.