Shares of Protean eGov Technologies will be listed today. The issue, which came out with a price band of Rs 752-792, was subscribed 23.9 times.

The entire issue is an offer-for-sale from selling shareholders, including 360 One Special Opportunities Fund and 360 One Special Opportunities Fund, HDFC Bank, Axis Bank, Deutsche Bank AG, Union Bank of India, NSE Investments and Administrator of the specified undertaking of the Unit Trust of India will also offload shares via OFS. The company has reserved 1.5 lakh equity shares for its employees, who get a discount of Rs 75 a share to the final issue price.

The portion reserved for NIIs was subscribed 31.62 times and that for retail investors by 8.93 times. The QIB portion saw the biggest draw of 46.94 times, while the employees quota was subscribed 1.49 times.

As part of the IPO, it raised Rs 143.53 crore from 18 anchor investors in the upper price band of Rs 792 a share. The key anchor investors include LIC Mutual Fund, Baroda BNP Paribas Mutual Fund, Aditya Birla Sun Life Insurance, SBI Life Insurance, SBI General Insurance and Societe Generale.

Protean eGov Technologies is an IT-enabled solutions company that collaborates with the government and creates digital public infrastructure and citizen-centric e-governance solutions.

It has developed and implemented 19 projects across seven ministries across India, including modernising the direct tax infrastructure (through projects such as Permanent Account Number (PAN) issuance, the Tax Information Network, strengthening the old age security system (under the National Pension System-NPS), and enabling a universal social security system for all Indians (under the Atal Pension Yojana).

Protean eGov Technologies IPO: Key things you should know about its business and prospects before you subscribe

In fact, it continues to be a market leader in provision of e-governance services such as management of the Tax Information Network, PAN processing, NPS and Atal Pension Yojana. It is one of the key contributors to the open source community and protocols that are power the Open Network for Digital Commerce (ONDC).