Protean eGov Technologies makes quiet debut, lists at par with issue price

Protean eGov Technologies, formerly NSDL e-Governance Infrastructure, made a quiet stock market debut with its shares getting listed at par against its issue price of Rs 792 per share on the BSE on Monday.

Post listing, the stock moved higher to Rs 823, a 4 per cent premium over its issue price. At 10:06 AM, it was quoting at Rs 818, up 3 per cent against the issue price. In comparison, the S&P BSE Sensex was down 0.31 per cent at 65,056. The initial public offering (IPO) saw nearly 24 times more demand than the shares on offer. The institutional investor portion of the issue was subscribed 47 times, high networth individual portion 32 times, and retail portion close to 9 times.