Protean eGov Technologies Limited IPO listing date today, Should You Buy It?

Protean IPO: The initial public offering (IPO) of Protean eGov Technologies Limited has been set for November 13, 2023, which is today. According to the information posted on the BSE website, “…effective from Monday, November 13, 2023, Protean eGov Technologies Limited’s equity shares will be listed and permitted to trading on the Exchange in the ‘B’ Group of Securities.” According to the BSE notification, Protean eGov Technologies Limited shares will be launched on the NSE and BSE in a special pre-open session on Monday.

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Retail investors, according to stock market professionals, were unable to appreciate the business strategy and sustainability of Protean eGov Technologies Limited’s income. This was reflected in the reactions of regular investors. However, market analysts maintained that the Protean IPO would have a favorable listing and that the Protean IPO would be listed at a premium of roughly $30 to $40 per share.

Read More: Why India Adopting Electric Vehicle (EV) Very Fast?

Protean IPO listing price forecast

Arun Kejriwal, Founder of Kejriwal Research and Investment Services, commented on the Protean eGov Technologies Limited IPO listing, saying, “Except for QIB and NII categories, the public issue received a response that was below expectations.” Individual investors, on the other hand, are unable to appreciate the company’s business plan and revenue generation strategy.  This is projected to continue in the post-listing situation. However, a number of investors have shown confidence in the stock, so I anticipate a flat listing of shares.”

When asked about the listing gain that an allottee might expect from the Prean IPO, Prashanth Tapse, Senior VP — Research at Mehta Equities, stated, “Considering the healthy subscription demand and optimistic market mood, a decent 10% listing gain can be assumed against the issue price of 792 per share.”

“We like Protean’s unique business model with a niche product portfolio that concentrates on eGovernance business,” stated Mehta Equities analyst on triggers that may boost Protean eGov Technologies Limited IPO listing. While the problem was completely priced in, discounting all near-term triggers, the upside appears to be restricted. Given that the company is the pioneer and market leader in its universal of eGovernance, focusing on new sectors such as health, education and skills, and agriculture, and with plans to expand into neighboring countries for eGovernance, there may be some kind of first mover advantage, but upside appears limited post listing, so we advise allotted investors to look for booking profits on listing day.”

Arun Kejriwal stated on the predicted Protean IPO listing price, “The issue may list at a premium of 30 to 40 per equity share.” This implies that the Protean IPO listing price would be between $822 and $832 per share.”

GMP Protean IPO today

Meanwhile, the grey market is hinting that the Pretean IPO may be successful. According to market experts, shares of Protean eGov Technologies Limited are now offered in the grey market for an 80 premium. This suggests that the gray market anticipates a Protean IPO listing price of roughly $872 per share.

Disclaimer: The opinions and recommendations shown above are those of individual analysts or brokerage firms, not Axpert Media. Before making any financial choice, we recommend that investors consult with competent specialists.

Axpert Media News Desk
Axpert Media News Deskhttps://axpertmedia.in
Axpert Media News Desk is an Internet media Website and our goal is to reach out People all over world with News, Informations & Entertainment. Ect, founder & ceo Krishnaanand

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