Protean eGov Tech raises Rs.144-Cr from 18 anchor investors

Economic Times  

Mumbai-headquartered Protean eGov Technologies (formerly NSDL E-Governance Infrastructure) has allotted 18.12 lakh equity shares to 18 funds who were the anchor investors, at INR 792 apiece, which is also the upper end of the price band, gathering INR 143.53 crore. Societe Generale, SBI General Insurance Company, SBI Life Insurance Company, Aditya Birla Sun Life Insurance Company, LIC Mutual Fund and Baroda BNP Paribas Mutual Fund are among the anchor investors. The INR 490-crore IPO is purely an offer of sale (OFS) by existing shareholders. Those offering shares in the OFS are -- IIFL Special Opportunities Funds, NSE Investments, Administrator of the Specified Undertaking of the Unit Trust of India, HDFC Bank, Axis Bank, Deutsche Bank A.G., Punjab National Bank, and Union Bank of India. At the upper end of the price band, the IPO is expected to fetch INR 490.33 crore. Protean eGov Technologies is engaged in conceptualising, developing, and executing nationally critical and population-scale greenfield technology solutions. ICICI Securities, Equirus Capital, IIFL Securities, and Nomura Financial Advisory and Securities (India) are the book-running lead managers to the issue. Shares of the company will be listed on the BSE.

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