IPO Protein: The listing date of the initial public offering (IPO) of Protean eGov Technologies Limited has been fixed on 13 November 2023 ie today. According to the information available on the BSE website, “… with effect from Monday, November 13, 2023, the equity shares of Protean eGov Technologies Limited will be listed and admitted to dealings on the Exchange in the Securities Group ‘B’ list ‘. .” The IS BSE notice further adding that shares of Protean eGov Technologies Limited will list on BSE and NSE in special pre-opening session during Monday’s markets.
According to the experts in the stock market, retail investors did not understand the business model and sustainability of the company’s business income. This was shown in response to the retail investors. However, market experts insisted that Protean IPO will have a positive listing and that Protean IPO listing would be held around ₹30 to ₹40 per premium share.
Protean IPO listing price prediction
Speaking on the IPO listing of Protean eGov Technologies Limited, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “Except for QIB and NII category, the public question received a response, which was below expectations. Indeed, investors retail able to understand the company’s business model and revenue generation mechanism. And this is expected to continue in the post-listing scenario as well. But, some investors have shown faith in the stock so I expect fair listing of the shares.”
When asked about the Prean IPO subscription gain that one can expect, Prashanth Tapse, Senior Vice President — Research at Mehta Equities said, “With the healthy subscription demand and optimistic market mood in considering that a reasonable 10% subscription gain can be taken against the issue price. ₹792 per share.”
On triggers that could help Protean eGov Technologies Limited IPO listing, Mehta Equities expert said, “We like Protean’s unique business model with a niche product portfolio focusing on e-Government business. Although upside looks limited based on valuation parsing as the question was its full price in a discount Because the company is a pioneer and market leader in its universal e-Government focusing on new sectors such as health, education and skills, agriculture and the expansion plans to reach neighboring countries for eGovernment, there can be some form of first picker advantage, but the listing position looks limited so we recommend that allotment investors look for booking profits on the day of listing.”
Meanwhile, a falling gray market also suggests that Pretean IPO will have a positive listing. According to market observers, shares of Protean eGov Technologies Limited are available at a premium ₹80 in the gray market today. This means that there is a gray market expecting the Protean IPO listing price to be around ₹872 per share levels.
Disclaimer: The above opinions and recommendations are the opinions and recommendations of individual analysts or brokerage firms, and are not the opinions of Mint. We encourage investors to check with certified experts before making any investment decision.
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Updated: 13 November 2023, 06:54 AM IST
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