Protean eGov Shares Close Higher in Market Debut After Strong Investor Demand in IPO
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Protean eGov Technologies shares debuted flat at Rs 792 on BSE but ended 11.49% higher at Rs 883 vs IPO price of Rs 792
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IPO was oversubscribed by 23.86 times overall; institutional investors bid 46.94 times while retail bid 8.93 times
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Company allotted 18.12 lakh shares at Rs 792 to 18 anchor investors, including SBI Life and Aditya Birla Sun Life
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Protean operates in e-governance sector, has managed 19 projects across 7 ministries to establish public digital infrastructure
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Company has diversified into new sectors like digital commerce, mobility, healthcare aligned with digital India vision