Protean eGov Technologies Mops Up Rs 143 Crore From Anchor Investors Ahead Of IPO
The IT-enabled solutions provider allotted 18.12 lakh shares at Rs 792 apiece to 18 anchor investors.
Protean eGov Technologies Ltd. has raised Rs 143.5 crore from anchor investors ahead of its initial public offering.
The IT-enabled solutions provider allotted 18.12 lakh shares at Rs 792 apiece to 18 anchor investors.
The marquee investors include SBI Life Insurance Co., Aditya Birla Sun Life Insurance Co., Baroda BNP Paribas Fund, Unifi Capital-backed BCAD Fund, and ACM Global Fund, all of which subscribed to 14.43% each, among others.
Two domestic mutual funds have applied through a total of nine schemes, the company said in an exchange filing. They have collectively netted 21.4% of the anchor portion of Rs 30.7 crore.
About Protean eGov Technologies IPO
Protean eGov Technologies' initial public offering will open on Nov. 6, and close on Nov. 8.
The IT-enabled solutions provider is offering 61.9 lakh shares via an offer for sale only.
The selling shareholders comprise 360 One Special Opportunities Fund, HDFC Bank Ltd., Axis Bank Ltd., Deutsche Bank AG, Union Bank of India, NSE Investments and Unit Trust of India.
The company will not receive any proceeds from the offer for sale.
All the funds raised will be received by the selling shareholders, in proportion to the shares sold by them.
Protean eGov Technologies operates in the e-governance sector and has so far managed 19 projects across seven ministries, to establish public digital infrastructure.