Protean eGov Technologies IPO Listing (NSDL eGov): Stock price increased after a neutral start, Should you buy, sell, or hold?

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Protean eGov Technologies Limited is a company that has become quite interesting in the stock market. Although its stock price initially went lower than expected, it showed strength by later increasing to ₹824.75 per share, which is 4% higher than the original price of ₹752 per share. This happened on the BSE.

Government-Backed Operational Capacity

Protean eGov Technologies stands out because it has the support and resources of the government. Experts believe this gives it an advantage, and investors who are looking to invest for the medium or long term can take advantage of this opportunity to buy shares, which could lead to higher returns.

Strategic Insights from Market Experts

Prashant Tapse’s Perspective

Prashant Tapse, a high-ranking executive at Mehta Equities, explains the special features of Protean’s IPO. Even though the Rathee family is selling their entire stake and the IPO has reached its full price, there has been an incredibly positive response from different types of investors, especially Qualified Institutional Buyers (QIBs), who have shown interest 142 times more than the available shares. This shows that the market has a lot of confidence in Protean. Tapse highlights that the demand has increased because Protean is the biggest manufacturer and preferred partner for brake shoes and Advance Braking Systems (ABS). They provide these products to many automobile companies in the critical equipment segment. According to Tapse, this positions Protean as an investment opportunity for the entire automobile sector.

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ASK Automotive IPO Comparison

Tapse compares Protean to ASK Automotive, referring to their similarities in the market. He suggests that investors who were allotted shares should hold onto them for the long term, considering Protean’s important role in the auto industry and its potential for growth. For those who didn’t get shares initially, Tapse advises buying them on the day they are listed, as they have the potential for good long-term returns.

Mahesh M Ojha’s Recommendations

Mahesh M Ojha, from Hensex Securities, believes that investing in Protean shares for the long term is a good strategy. He points out that Protean has government support and is a leader in providing e-governance solutions on a large scale. Ojha also mentions Protean’s secure and scalable technology infrastructure, nationwide network, and diverse service offerings. Considering Protean’s strong financial performance, Ojha recommends including it in investment portfolios and suggests holding onto the shares for medium to long-term gains.


Protean eGov Technologies is a promising investment opportunity in the auto industry. It has government support, market leadership, and a strategic position. Experts suggest considering Protean for long-term investment due to its potential for good returns. It’s important to consult certified experts when making investment decisions in the stock market.

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