Protean eGov Technologies IPO | Investors pick Rs 143.5 crore shares in anchor book

Protean eGov Technologies IPO opens on November 6

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26 Aug, 2025 12:21

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Protean eGov Technologies, the citizen-centric & population scale e-governance solutions developer, raised Rs 143.5 crore from several anchor investors on November 3, ahead of the public issue opening.

Prominent names like SBI Life Insurance, Baroda BNP Paribas Mutual Fund, Aditya Birla Sun Life Insurance Company, LIC Mutual Fund, and Societe Generale invested in the company via anchor book.

Among others, Astorne Capital VCC - Arven, GAM Multistock-Emerging Markets Equity, LC Radiance Fund VCC, ACM Global Fund VCC, and BCAD Fund also bought shares in Protean.

"... has finalised allocation of 18,12,300 equity shares to anchor investors, at a price of Rs 792 per equity share," the Mumbai-based professionally managed company in its BSE filing.

Two domestic mutual funds have applied through a total of nine schemes, it added.

Protean eGov Technologies will open its Rs 490-crore maiden public issue for subscription on November 6, with a price band of Rs 752-792 per share.

Also read: Protean eGov Technologies IPO | Top 10 key things to know before buying the issue

The last day for bidding on the offer will be November 8.

The public issue of 61.91 lakh equity shares comprises only an offer-for-sale (OFS) by the investors, and there is no fresh issue component.

This means the entire issue proceeds will go to the investors who are selling shares in the OFS including 360 One Special Opportunities Fund, HDFC Bank, Axis Bank, Deutsche Bank A G, Union Bank of India, and NSE Investments.

Also read: ESAF Small Finance Bank IPO subscribed 1.74 times on debut

The IT-enabled e-governance service provider has developed 19 projects across seven ministries in India and continued to be a market leader in the provision of e-governance services such as management of the TIN (e Tax Information Network), PAN (Permanent Account Number) processing, NPS (National Pension System) and Atal Pension Yojana.