Protean eGov Technologies Limited IPO (Protean eGov Technologies IPO) Detail

November 6, 2023 - November 8, 2023

Protean eGov Technologies IPO is a book built issue of Rs 490.33 crores. The issue is entirely an offer for sale of 0.62 crore shares.

Protean eGov Technologies IPO bidding started from November 6, 2023 and ended on November 8, 2023. The allotment for Protean eGov Technologies IPO was finalized on Monday, November 13, 2023. The shares got listed on BSE on November 13, 2023.

Protean eGov Technologies IPO price band is set at ₹752 to ₹792 per share. The minimum lot size for an application is 18 Shares. The minimum amount of investment required by retail investors is ₹14,256. The minimum lot size investment for sNII is 15 lots (270 shares), amounting to ₹213,840, and for bNII, it is 71 lots (1,278 shares), amounting to ₹1,012,176.

The issue includes a reservation of up to 150,000 shares for employees offered at a discount of Rs 75 to the issue price.

ICICI Securities Limited, Equirus Capital Private Limited, Iifl Securities Ltd and Nomura Financial Advisory And Securities (India) Pvt Ltd are the book running lead managers of the Protean eGov Technologies IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Protean eGov Technologies IPO RHP for detailed information.

Protean eGov Technologies IPO Details

IPO Date	November 6, 2023 to November 8, 2023
Listing Date	November 13, 2023
Face Value	₹10 per share
Price Band	₹752 to ₹792 per share
Lot Size	18 Shares
Total Issue Size	6,191,000 shares (aggregating up to ₹490.33 Cr)
Offer for Sale	6,191,000 shares of ₹10 (aggregating up to ₹490.33 Cr)
Employee Discount	Rs 75 per share
Issue Type	Book Built Issue IPO
Listing At	BSE
Share holding pre issue	40,446,732
Share holding post issue	40,446,732

Protean eGov Technologies IPO Reservation

Protean eGov Technologies IPO offers 6,191,000 shares. 1,208,200 (19.52%) to QIB, 906,150 (14.64%) to NII, 2,114,350 (34.15%) to RII, 150,000 (2.42%) to employees and 1,812,300 (29.27%) to Anchor investors. 117,463 RIIs will receive minimum 18 shares and 1,118 (sNII) and 2,237 (bNII) will receive minimum 270 shares. (in case of oversubscription)

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	1,812,300 (29.27%)	NA
QIB Shares Offered	1,208,200 (19.52%)	NA
NII (HNI) Shares Offered	906,150 (14.64%)
bNII > ₹10L	604,100 (9.76%)	2,237
sNII < ₹10L	302,050 (4.88%)	1,118
Retail Shares Offered	2,114,350 (34.15%)	117,463
Employee Shares Offered	150,000 (2.42%)	NA
Total Shares Offered	6,191,000 (100%)

Protean eGov Technologies IPO Anchor Investors Details

Protean eGov Technologies IPO raises Rs 143.53 crore from anchor investors. Protean eGov Technologies IPO Anchor bid date is November 3, 2023. Protean eGov Technologies IPO Anchor Investors list

Bid Date	November 3, 2023
Shares Offered	1,812,300
Anchor Portion Size (In Cr.)	143.53
Anchor lock-in period end date for 50% shares (30 Days)	December 13, 2023
Anchor lock-in period end date for remaining shares (90 Days)	February 11, 2024

Protean eGov Technologies IPO Timeline (Tentative Schedule)

Protean eGov Technologies IPO opens on November 6, 2023, and closes on November 8, 2023.

IPO Open Date	Monday, November 6, 2023
IPO Close Date	Wednesday, November 8, 2023
Basis of Allotment	Monday, November 13, 2023
Initiation of Refunds	Wednesday, November 15, 2023
Credit of Shares to Demat	Thursday, November 16, 2023
Listing Date	Monday, November 13, 2023
Cut-off time for UPI mandate confirmation	5 PM on November 8, 2023

Protean eGov Technologies IPO Lot Size

Investors can bid for a minimum of 18 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	18	₹14,256
Retail (Max)	14	252	₹199,584
S-HNI (Min)	15	270	₹213,840
S-HNI (Max)	70	1,260	₹997,920
B-HNI (Min)	71	1,278	₹1,012,176
Lot Size Calculator

About Protean eGov Technologies Limited

Incorporated in December 1995, Protean eGov Technologies Limited provides IT services. The Company offers citizen services, e-governance solutions, system integration, business process re-engineering, data centre co-location, and IT consulting services for citizens, corporations and the Government.

The key projects that Protean eGov Technologies Limited has executed or is involved in are Tax Information Network (TIN), PAN services, Central Recordkeeping Agency (CRA) - National Pension System (NPS), Atal Pension Yojana (APY), Unique Identification (UID/Aadhaar) - Registrar, Goods and Services Tax( GST), Aadhaar Authentication & e-KYC Services, and more.

Since December 2022, the company has implemented and managed 19 projects spread across several ministries. The company have a pan-India physical network of over 167,000 centres, which includes over 79,000 PAN and TIN facilitation centres and over 88,000 points of presence, as of June 30, 2023.

The company's vital role in developing digital infrastructural solutions has led to the achievement of multiple milestones. Among them is Modernizing direct tax infrastructure by introducing projects like PAN issuance. The company has enabled the universal social security system for all Indians, particularly for unorganised workers, by creating technology infrastructure as a CRA for the Atal Pension Yojana. The company has also been instrumental in improving accessibility to education and skill financing by developing efficient digital marketplaces. This has led to the discovery of financial resources through platforms such as Vidya Lakshmi and Vidyasaarathi.

The company has contributed to and supported open digital building blocks such as Open Network for Digital Commerce (ONDC) for use cases across sectors like e-commerce, mobility, healthcare, agriculture, and education. It is worth mentioning that Protean eGov Technologies Limited is one of the key and early contributors to the open-source community and protocols that power ONDC.

Protean eGov Technologies Limited Financial Information (Restated Consolidated)

Protean eGov Technologies Limited's revenue increased by 1.78% and profit after tax (PAT) dropped by -25.63% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Jun 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	1,133.86	1,104.10	988.14	862.39
Revenue	233.17	783.87	770.18	652.03
Profit After Tax	32.21	107.04	143.94	92.19
Net Worth	888.10	856.94	788.00	667.46
Reserves and Surplus	847.48	816.33	747.43	627.14
Total Borrowing
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Protean eGov Technologies IPO is Rs 3203.38 Cr.

KPI	Values
ROE	12.49%
ROCE	16.13%
RoNW	12.49%

Check Protean eGov Technologies IPO Peer Comparison here.

	Pre IPO	Post IPO
EPS (Rs)	26.48
P/E (x)	29.91	24.86

Objects of the Issue (Protean eGov Technologies IPO Objectives)

The company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.

Protean eGov Technologies IPO Review (Apply)

[Dilip Davda] PETL has established itself as a niche player in e-Governance projects and expanding its reach to neighboring countries. Based on FY24 annualized earnings, the issue appears fully priced. With the rising importance of eGovernance globally, this company is set for bright prospects ahead. Investors may park fund for the medium to long-term rewards in this dividend paying company. Read detail review...

Protean eGov Technologies IPO Subscription Status (Bidding Detail)

The Protean eGov Technologies IPO is subscribed 23.86 times on November 8, 2023 7:02:00 PM. The public issue subscribed 8.93 times in the retail category, 46.94 times in the QIB category, and 31.62 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category	Subscription (times)
QIB	46.94
NII	31.62
bNII (bids above ₹10L)	33.14
sNII (bids below ₹10L)	28.58
Retail	8.93
Employee	1.49
Total	23.86

Total Application : 890,571 (7.58 times)

Protean eGov Technologies IPO Prospectus

› Protean eGov Technologies IPO DRHP
› Protean eGov Technologies IPO addendum to DRHP
› Protean eGov Technologies IPO RHP
› Anchor Investors in Protean eGov Technologies IPO

Protean eGov Technologies IPO Rating

4.7

Rating:

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Protean eGov Technologies IPO Listing Details

Listing Date	November 13, 2023
BSE Script Code	544021
NSE Symbol
ISIN	INE004A01022
Final Issue Price	₹792 per share

Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade

BSE
₹792.00
₹792.00
₹775.00
₹890.90
₹883.00

Check IPO Performance…

Protean eGov Technologies Limited Contact Details

Protean eGov Technologies Limited
Times Tower, 1st Floor,
Kamala Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai 400 013,
Phone: +91 22 4090 4242
Email: cs@proteantech.in
Website: https://www.proteantech.in/

Protean eGov Technologies IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: protean.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

Protean eGov Technologies IPO - Buy or Not

Protean eGov Technologies IPO Recommendation Summary

Review By	Subscribe	Neutral	Avoid
Brokers	7	0	0
Members	0	0	0

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Protean eGov Technologies IPO Lead Manager(s)

Lead Manager Reports

Protean eGov Technologies IPO FAQs

Protean eGov Technologies IPO is a main-board IPO of 6,191,000 equity shares of the face value of ₹10 aggregating up to ₹490.33 Crores. The issue is priced at ₹752 to ₹792 per share. The minimum order quantity is 18 Shares.

The IPO opens on November 6, 2023, and closes on November 8, 2023.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE.

Zerodha customers can apply online in Protean eGov Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Protean eGov Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Protean eGov Technologies IPO through Zerodha

Visit the Zerodha website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the 'Protean eGov Technologies IPO' row and click the 'Bid' button.
Enter your UPI ID, Quantity, and Price.
‘Submit’ IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Protean eGov Technologies IPO opens on November 6, 2023 and closes on November 8, 2023.

Protean eGov Technologies IPO lot size is 18 Shares, and the minimum amount required is ₹14,256.

You can apply in Protean eGov Technologies IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Protean eGov Technologies IPO will be done on Monday, November 13, 2023, and the allotted shares will be credited to your demat account by Thursday, November 16, 2023. Check the Protean eGov Technologies IPO allotment status.

The Protean eGov Technologies IPO listing date is on November 13, 2023.

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Protean eGov Technologies IPO Message Board

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1094 Comments

Stock Discussion

372. TGunasekar | Link | Bookmark |December 1, 2023 7:25:35 AM

Experts please comment on strategy based on yesterday's Q2/H1 results.

371. MuStrFc | Link | Bookmark |November 22, 2023 3:36:46 PM

IPO Mentor (1200+ Posts, 600+ Likes)

Sold all holdings of Protean today, will add as and when it may seem feasible

370. Sankalp Suvardhan | Link | Bookmark |November 17, 2023 4:13:51 PM

Sold today 1 lot @ day high.

Will keep 1 lot for price movement.

369. harit | Link | Bookmark |November 17, 2023 9:04:26 AM

Exit full in protean@1168(18) today

369.1. BhaveshP | Link | Bookmark |November 17, 2023 9:12:53 AM

I also exit in 1180 today. Sold Cello, MVGJL, Ask, Blue jet and Protean all this week with heavy heart. Wish to buy them all after some correction.

368. Suraj Sumel | Link | Bookmark |November 16, 2023 10:54:09 AM

Is it wise to buy shares now? I'm pretty new to stock market. Thanks in advance

Load more comments (11 replies)

368.1. colcol | Link | Bookmark |November 16, 2023 11:07:44 AM

If you are new to the stock market, you are better off investing in low cost index funds rather than asking strangers for advice on a specific stock. No one can give you appropriate advice without knowing your financial goals, risk tolerance, time horizon etc and most people who provide "tips" have some ulterior motive.

As for Protean, it operates in a niche segment that, in my opinion, should grow faster than the general economy. It has the potential to be multi-bagger in the long run. Though the backward looking valuation is not cheap. I intend to hold my IPO allotment, which is a small part of a diversified portfolio, for the long-term with a stop loss. Your investment objectives may be completely different from mine, so what I am doing may not be appropriate for you.

368.2. Suraj Sumel | Link | Bookmark |November 16, 2023 12:42:20 PM

Thank you colcol for the detailed reply. Yes, I will develop my own strategies and will dig deeper to get more knowledge about the different investment methods.

368.3. ~~DSR~~ | Link | Bookmark |November 16, 2023 12:46:05 PM

When stock gives 50% return in 3 days.. that's the time to maybe sell.. definitely not a buy.

368.4. colcol | Link | Bookmark |November 16, 2023 1:34:46 PM

@DSR It is impossible to time the market perfectly and sometimes it is better to buy a stock that is on an upward trend rather than try to catch a falling knife. Many people got spooked after Protean's flat listing and sold over the past three sessions because they thought a 10%/20%/30%/40%/50% gain meant it was time to sell. Those who bought at the session highs of the previous sessions are currently better off than those who sold. The last mainboard IPO I was alloted, Plaza Cables , kept hitting UC for several days.

368.5. ~~DSR~~ | Link | Bookmark |November 16, 2023 2:07:02 PM

@colcol I disagree with your points. It is a wrong comparison.

Plaza was a 234 cr mcap company launched at 21 PE and in a hot sector - cables and wires. PLus purely fresh issue.

Protean - 3200+ cr mcap and launched at 30+ PE. purely OFS. and Govt owned company.

Any sane mind would start looking to book profit in Protean at current level..after 50% plus return in 3 days.

Also.. imagine if somebody bought in those several days of UC in Plaza.. Plaza is in continuous lower circuit since several days.. even today when almost all shares are up ..it is 5% down in LC.

I have learnt over the year to sell in strength and buy in weakness. .. Buying Protean at current level is too risky.

368.6. colcol | Link | Bookmark |November 16, 2023 3:12:32 PM

@DSR Plaza Wire has not been in continuous LC for the last several days. Even today, it traded above LC most of the time. I had gotten out of my position a few days back even though I generally like to hold my investments for at least an year, because it seemed to be over-valued after being a triple bagger, especially in light of mediocre results not supporting valuations and operators seemingly in control of the stock. My point was just that the market is unpredictable and share prices of individual stocks are not mean-reverting.

Everyone has a different investing style. Some people like to bank quick 20/30/50 percent gains. Some like to get 2/3/5x returns. The latter requires more patience and research. I have several stocks in my portfolio bought over the last few months from both primary and secondary market that are up over 100%. I also have some losers. If I have big winners and small losers , I can afford to be wrong more often than I am right and yet come out ahead.

I am not advising anyone to buy Protean. It gives me exposure to the theme of growing e-governance that I want. I realise that the historical P/E is not cheap but share prices are forward looking and I think the future TAM is still large. I don't have a short term view on its price action and it may very well crash in price, but I am willing to hold it longer for a potential multibagger return, while realizing that it could also fall substantially. My portfolio is diversified enough that neither outcome is going to have a meaningful impact on me. I understand that some people prefer booking smaller profits and turning over their portfolio more often, and it may work for them.

Wish you all the best in your investments.

368.7. ~~DSR~~ | Link | Bookmark |November 16, 2023 3:40:10 PM

@colcol Look at the chart..if this is not continuous LC then what is?

Also, don't count it as a 3 bagger.. that was from IPO price. Post listing ..it is now sitting at a mere 30% absolute return. .. you are getting more than that in 3 days in Protean.

Question was from a new investor..who is asking whether it should be bought now.. I guess instead of showing dreams of multibagger at such an early stage..we could share reasonable expectations. How many shares have become multibaggers by buying at 40-50 PE..and in what timeframe?

You are right everyone has different investment style. I was just sharing mine.. I see no sense of buying a stock when it has run up in by 50% in 3 days.. I would let the price stablize or correct.. if not..there are several good opportunities in the market where we know the company history....their performance etc. to make a better decision.

368.8. colcol | Link | Bookmark |November 16, 2023 3:58:28 PM

@DSR The first thing I told the OP was not to listen to the advice of strangers on the internet, including myself. I also made it absolutely clear that I am not recommending buying this stock. I did not show anyone any dreams of multi-baggers, just pointed out different approaches to investing. I also said my approach may not work for other people. So, I don't understand the motivation for your personal attacks on me.

Continuous LC, to me, means a situation where the stock trades only at the lower circuit price and most people who put in sell orders at the LC price are trapped and unable to sell for several days at any price. That is not true for Plaza Wires today or the last few days. In fact , there have been days where it has hit both LC and UC.

I am a busy person and do not have time for negativity in my life. I come to this forum mostly to learn and shared my perspective only because I thought it might be helpful to the person who asked the question. If you don't find my posts useful, I would request you to please ignore them. If you think they are offensive, you can report them to the admins. I do not have the time to engage with you any further.

All the best to you.

368.9. ~~DSR~~ | Link | Bookmark |November 16, 2023 5:28:17 PM

@colcol Anyone can see the interaction and understand who is getting personal.

I was merely pointing out why it might not be a wise decision to buy this stock after this run up. You instead started talking about multibagger returns and gave example of plaza..which has also turned out to be a trap for many..

You yourself booked out recently.. but won't realise that if you had sold the stock in the strength you would have been sitting on a much better profit... My line of discussion - have reasonable returns expectation ..and good entry and exit point..

You bought stock with multibagger expectation and sold out after seeing series of lower circuit-- that's not even an investment approach..that's merely playing satta..and crying for poor cards being dealt .

Look at other forum members comments also..many are commenting that it seemed manipulated and many are booking profit.No body can predict the price but one should not misguide anyone.

And just so you know.. absolutely no incentive for me to continue discussion with you when you can't have a healthy discussion without being a crybaby.

Good luck.

Stopped tracking this now.

368.10. colcol | Link | Bookmark |November 16, 2023 6:06:54 PM

@DSR I didn't want to respond to you but since you completely mischaracterized what I said, I am responding for the benefit of others who might read this. I didn't buy Plaza from the market and didn't cry about losing money on itm I was alloted a HNI lot and held it through all the UCs. I finally exited at about 2.5x return. This, despite the stock listing at only a 40% premium and me having to hold it for a couple of days where it only traded at the LC price. If I had sold it for a quick 40% or 50% or even 100% profit, I would have done worse than I did. Even those who bought at the 40% listing or the first few UCs would have done quite well even if they had held through the down days. The example was only meant to demonstrate that sometimes taking what seems like a juicy profit leaves a lot on the table and sometimes patience gets rewarded.

I have tried to be polite so far but your statement that any person who is not looking to exit Protean after a 50% gain is not sane just demonstrates profound ignorance about investment objectives of people other than yourself and deep intolerance of opinions that don't agree with yours. Not everyone has the same investment objective and time horizon as you. For every seller at the all time high is a buyer and he has his own reasons, which may be as good or better than yours.

I hope this post would be useful to those who read it. I am not going to check this thread again.

368.11. Rakcyt | Link | Bookmark |November 16, 2023 8:41:51 PM

IPO Mentor (800+ Posts, 800+ Likes)

Highly impressed with the discussions point raised by both of you DSR as well as Colcol.........you both are right in your own ways.....infact what you are. Pointing out is for new comers to whom you want to convey your intentions which may be misinterpreted and it's obvious ......for an experienced person like me after spending 35 years it is easy to read but for new comers it may create confusion. It's better to give disclaimers while posting any claim and let people know that your intentions are good to help them ....I had very positive opinion from day one but have come out today ........will definitely buy at # 1000 once market correct ..... Long term good but short term good to sell

368.12. Ou Ai | Link | Bookmark |November 18, 2023 3:36:08 PM

Top Contributor (300+ Posts, 300+ Likes)

This board and its members are mostly into listing gains and ones who become long term investors, if the price goes much below the issue price. Those who say long term perhaps mean around one to two years. Wealth gets created in ten to twenty years and it is hard for short term investors even to visualize this.

Members on this board also follow blindly few experts who get that tag when few of their predictions turn right. No one believes this could be due to their being lucky on a chance outcome. Because, when it goes wrong, members attribute it to the market saying anything can happen in market and not blame the expert!

Large percentage of members get influenced by others who are more vocal, and it is necessary to moderate whenever we express our opinion and not simply say, " Read everything and take your own decision". Your posting on this specific point is very apt to say there are both long term and short-term investors in this market as for every seller there is a buyer who finds value.

368.13. CoolAsh | Link | Bookmark |November 27, 2023 6:59:16 PM

Top Contributor (500+ Posts, 100+ Likes)

There is no substitute for your own analysis and this takes time and comes with experience. From my experience start with IPOs and totally avoid secondary market for the start. Start slow and understand your own self, your own blind spots. Greed can easily wipe out large capital fairly quickly. All the best

367. ~~DSR~~ | Link | Bookmark |November 16, 2023 1:38:51 PM

Loaded Cello..:)

Ab karo Khela!

Load more comments (1 replies)

367.2. whiteFox | Link | Bookmark |November 30, 2023 3:00:50 PM

Top Contributor (600+ Posts, 200+ Likes)

Sir cello not moving much...exit or hold..

367.3. ~~DSR~~ | Link | Bookmark |December 3, 2023 1:04:15 AM

I trimmed position.. result were ordinary

366. diwan kapoor | Link | Bookmark |November 16, 2023 9:59:14 AM

IPO Mentor (900+ Posts, 600+ Likes)

Sold my retail allotment today @1195.. Protection of profit is must... Whenever opportunities comes.. don't care about further price rice now..share is in operators control now.. as per my observation..

366.1. Tejas Pandya | Link | Bookmark |November 16, 2023 10:19:12 AM

IPO Guru (2300+ Posts, 1900+ Likes)

@diwan kapoor Congratulations sir..good move..

366.2. diwan kapoor | Link | Bookmark |November 16, 2023 10:24:44 AM

IPO Mentor (900+ Posts, 600+ Likes)

Thank you @Tejas bhai.. Wish you good luck for all future ipo's 🎄

365. AmateurInvestor | Link | Bookmark |November 16, 2023 9:21:29 AM

1 retail. Took out capital today @ 1179 for next ipo. Happy with the yield. Don't want to stretch my luck. Hope my decision was correct. Experts your opinion please.

364. dtrader | Link | Bookmark |November 16, 2023 8:26:17 AM (200+ Posts)

1500 quantity now changed to 1190

For those who following 1500 quantity guy..

I'm having no position.. Just observing..

How long this manipulation will go. What are your thoughts @Nothing New Sir?

Load more comments (2 replies)

364.3. dtrader | Link | Bookmark |November 16, 2023 9:01:05 AM (200+ Posts)

@colcol That's what I just mentioned.. those who are following 1500 guy... not for remaining..

They are not only buying.. selling too.. multiple orders of buying and selling with difference of just few paisa..

If this script having so much hype, It would have given some Listing gains.. here Listing gains 0 after that ran 50% in just 2/3 days.. what came in between? No block or bulk deals too..

I'm new to markets and not sure what's happening here. This is what I understood..

@UjwalG Yes sir. Generally for how long this will continue sir? If you have past observation of operator/Algo driven stocks..

364.4. colcol | Link | Bookmark |November 16, 2023 9:06:38 AM

Large institutional buyers will often use some market makers for executing their orders. They will recycle shares intraday. Ultimately, there has to be an end buyer if price is going up on value. The number of shares bought has to be exactly equal to the number of shares sold, so there must have been some buyer for all the shares that were sold intraday.

363. IPO Chacha | Link | Bookmark |November 16, 2023 8:37:35 AM

Ye to bhage hi ja raha hai. 50% up🤔😳😳. Who is pouring money? Any big MF?

363.1. colcol | Link | Bookmark |November 16, 2023 8:48:41 AM

If there are bulk deals they will show up. But sometimes larger buyers want to stay annonymous so that the price does not run up too fast. They may be buying multiple small lots during the day.

362. Heathslayer | Link | Bookmark |November 15, 2023 10:16:37 PM (200+ Posts)

got to keep an eye on Ask auto, cello world and other recent listings. I remember few years ago operators were on a targetting spree of newly listed IPOs and they all ran like hell.

361. Heathslayer | Link | Bookmark |November 15, 2023 10:02:55 PM (200+ Posts)

posted two days before listing this might go 1000 plus in a month or so. Seems operators had different plans. lack of IPOs for a week worked for this I guess or did some MFs entered?

360. Yogendran | Link | Bookmark |November 15, 2023 9:18:57 PM

Sold One Lot Rs.1050/- Per Share.

359. CASuraj | Link | Bookmark |November 15, 2023 10:18:13 AM (200+ Posts)

Before listing and while listing, people made fund of Protean by calling Protein, Vitamin, Calcium etc etc. Operators got angry and showed retailers the power of real PROTEAN.

Regret selling it at lower price despite having some conviction but market is supreme, so many things to learn. No one can ever buy at lowest level, no one can ever sell at highest level.

Load more comments (3 replies)

359.4. CASuraj | Link | Bookmark |November 15, 2023 7:13:10 PM (200+ Posts)

One of the most interesting moves by operators, no one could predict it. 10-12% was obvious, but UC of 20% on 2nd day of listing, I don't remember when was the last time it happened.

359.5. DHARMENDRA SHARMA | Link | Bookmark |November 15, 2023 7:55:16 PM

Top Contributor (500+ Posts, 100+ Likes)

@CA suraj,
Esaf small finance operator game kar diya, continue downtrend,

358. Ou Ai | Link | Bookmark |November 15, 2023 2:30:40 PM

Top Contributor (300+ Posts, 300+ Likes)

Protean was priced fairly and offered. It is an institutional share. FII DII Mutual funds and HNI s like to buy and hold it. As expected, it has now hit upper circuit and crossed 1000!

Often many experts on the board fail to see the bigger picture. Those who are holding, continue to hold.

Happy Investing!

357. Justalearner | Link | Bookmark |November 15, 2023 11:42:06 AM

IPO Mentor (600+ Posts, 400+ Likes)

UC.... Holding on to my allotment...as it is never intended to sell.... Will hold on for some more time regardless of the volatility.
Orders indicate some sort of AI algorithm being used to place buy n sell orders of 1500 shares to extract money without actually owning the shares (intraday ofcourse).... SEBI should look at such operator hacks to manipulate price movements...
It is a good company but price should hv stayed in 3 figure mark at least till next quarter... Nevertheless those holding it till now it's time to enjoy the ride...

356. DHARMESHPARMAR | Link | Bookmark |November 15, 2023 11:35:11 AM

Upper circuit
Any news ?
Holding 1 retail lot
Senior members please guide what to do ?

355. Samraheja | Link | Bookmark |November 15, 2023 11:07:41 AM

Protean one lot sold 1031

354. Allan Mast | Link | Bookmark |November 15, 2023 9:37:37 AM

Very close to UC today..👌

353. G profit | Link | Bookmark |November 15, 2023 9:32:31 AM

IPO Mentor (1000+ Posts, 200+ Likes)

Protean is flaring . Full of protein today

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