Protean eGov Technologies, earlier known as NSDL E-Governance Infrastructure, is set to launch its public issue on November 6, and the same will close for subscription on November 8. The digital technology solutions provider fixed a price band of Rs 752–Rs 792 per share on Wednesday for its maiden Rs 490 crore initial public offering. 

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For the anchor investors, the issue will open for a day on November 3, the company announced.

The issue is entirely an offer for sale (OFS) of 61.9 lakh shares. As part of the OFS, IIFL Special Opportunities Funds, NSE Investments, Administrator of the Specified Undertaking of the Unit Trust of India, HDFC Bank, Axis Bank, Deutsche Bank AG, Punjab National Bank, and Union Bank of India will dilute their stake.

Earlier, the OFS size was pegged at 1.28 crore shares, which was subsequently slashed.

Additionally, the offer includes a reservation of 1.5 lakh equity shares for the company's employees at a discount of Rs 75 per share to the final offer price.

Furthermore, half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors. Further, investors can bid for a minimum of 18 equity shares and in the multiple of 18 equity shares thereafter.

Established as a depository in 1995, Protean eGov Technologies created a systemically important national infrastructure for capital market development in India.

Protean eGov 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 has extensive experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions.

ICICI Securities, Equirus Capital, IIFL Securities, and Nomura Financial Advisory and Securities (India) are the book-running lead managers for the issue. Shares of the company will be listed on both the BSE and the NSE.

(with agency inputs)