Protean eGov Technologies IPO to Open Soon: Here’s What You Need to Know

Protean eGov Technologies Limited, formerly known as NSDL E-Governance Infrastructure Ltd, is gearing up to launch its initial public offering (IPO), and investors and market enthusiasts are eagerly awaiting the details of this upcoming opportunity. The IPO, which has received the green light from the Securities and Exchange Board of India (SEBI), promises to be a significant event in the Indian financial markets. In this blog, we will explore what we know so far about Protean eGov Technologies and its upcoming IPO.

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Key Dates and Price Band

As of now, the key dates, price band, and other specific details of the Protean eGov Technologies IPO are yet to be released. The company filed its draft documents with SEBI in December 2021, and in November 2022, SEBI issued observations, indicating the final approval for the IPO launch. Investors and market participants are eagerly awaiting further information about the offering.

Offer for Sale (OFS)

Protean eGov Technologies plans to offer 1.2 crore equity shares for sale as part of the public offering. These shares will be sold through an Offer for Sale (OFS), and the selling entities include prominent names like HDFC Bank, Axis Bank, Deutsche Bank A.G., Punjab National Bank, Union Bank of India, Administrator of the Specified Undertaking of the Unit Trust of India, NSE Investments, and IIFL Special Opportunities Funds.

Lead Managers and Registrar

The book running lead managers for the Protean eGov Technologies IPO are ICICI Securities Limited, Equirus Capital Private Limited, Iifl Securities Ltd, and Nomura Financial Advisory And Securities (India) Pvt Ltd. The issue’s registrar is Link Intime India Private Ltd, a reputable player in the industry.

Listing on NSE and BSE

Protean eGov IPO shares are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), two of India’s most prominent stock exchanges. This dual listing is expected to enhance the visibility and accessibility of the company’s shares to a wide range of investors.

Financial Performance

According to reports, Protean eGov Technologies Limited reported a net profit of ₹143.9 crore on revenue of ₹690.9 crore for the fiscal year that ended in 2022. This is an improvement from the previous year’s net profit of ₹92.1 crore on revenue of ₹603 crore. The consistent growth in both revenue and profit demonstrates the company’s financial stability and potential for investors.

Protean eGov Technologies – A Leading IT Solutions Provider

Protean eGov Technologies Limited is one of the leading providers of IT-enabled solutions in India. The company is known for its role in designing, creating, and implementing greenfield technological solutions that are essential for the country’s citizens. It has a strong presence in the e-governance and digital public infrastructure space and collaborates closely with the government to develop cutting-edge, citizen-centric e-governance solutions.

A Legacy of National Infrastructure Development

Protean eGov Technologies Limited has a rich history, having been initially established as a depository in 1995. Over the years, it has contributed to building a systemically essential national infrastructure for the development of India’s capital market. This legacy and expertise in the financial services industry position the company as a key player in India’s evolving technological landscape.

Unique Business Proposition

The Draft Red Herring Prospectus (DRHP) for Protean eGov Technologies Limited highlights that there are no listed companies in India that are directly comparable in all aspects of business and services that the company provides. This unique business proposition makes the IPO even more intriguing for investors.

In conclusion, the Protean eGov Technologies IPO is generating significant interest in the financial markets. As one of India’s leading IT solution providers, with a focus on e-governance and digital infrastructure, the company’s growth and potential for investors are compelling. The IPO’s details, including the price band and key dates, are eagerly awaited, and it promises to be an exciting opportunity for investors looking to participate in India’s dynamic technology and governance landscape. Stay tuned for further updates on this upcoming IPO.

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