Protean IPO : Protean eGov Technologies Limited IPO Details

Protean eGov Technologies Limited is all set to make its mark in the Indian stock market with its upcoming Initial Public Offering (IPO). Incorporated in December 1995, Protean eGov Technologies Limited, formerly known as NSDL e-Governance Infrastructure Limited, has been at the forefront of the e-Governance revolution in India. With over two decades of experience, the company has played a pivotal role in developing digital infrastructural solutions for a wide range of sectors, including finance, social security, education, and more. In this blog, we will delve into the details of the Protean eGov Technologies IPO, the company’s financial performance, and its significant contributions to the nation’s e-Governance landscape.

Also See: Protean IPO GMP

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Protean eGov Technologies IPO Details

The Protean eGov Technologies IPO is scheduled to open for subscription on November 6, 2023, and will close on November 8, 2023. The basis of allotment is expected to be finalized on Monday, November 13, 2023. The company will list its shares on the Bombay Stock Exchange (BSE) with a tentative listing date set for Friday, November 17, 2023. Below are the key details of the IPO:

ParameterDetails
IPO NameProtean eGov Technologies
IPO DateNovember 6, 2023, to November 8, 2023
Basis of AllotmentMonday, November 13, 2023
Listing DateNovember 17, 2023
Face Value₹10 per share
Price₹752 to ₹792 per share
Total Issue Size6,191,000 shares
(aggregating up to ₹490.33 Cr)
Offer for Sale6,191,000 shares of ₹10
(aggregating up to ₹490.33 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE
Share Holding Pre-Issue40,446,732
Share Holding Post-Issue40,446,732

Protean eGov Technologies IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)118₹14,256
Retail (Max)14252₹199,584
S-HNI (Min)15270₹213,840
S-HNI (Max)701,260₹997,920
B-HNI (Min)711,278₹1,012,176

Protean eGov Technologies IPO Reservation

The Protean eGov Technologies IPO offers shares to various investor categories:

  • Qualified Institutional Buyers (QIBs): Not more than 50% of the Net Issue.
  • Retail Investors: Not less than 35% of the Net Issue.
  • Non-Institutional Investors (HNIs): Not less than 15% of the Net Issue.

Financial Performance

Protean eGov Technologies Limited’s financial performance is a key factor for potential investors to consider. The company’s revenue increased by 1.78% between the financial years ending on March 31, 2022, and March 31, 2023. However, the profit after tax (PAT) experienced a decrease of -25.63% during the same period. Investors should carefully analyze these financial figures before making an investment decision.

Period Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,133.861,104.10988.14862.39
Revenue233.17783.87770.18652.03
Profit After Tax32.21107.04143.9492.19
Net Worth888.10856.94788.00667.46
Reserves and Surplus847.48816.33747.43627.14
Amount in ₹ Crore
Line Graphs

Protean IPO Objectives

It’s important to note that Protean eGov Technologies Limited will not receive any proceeds from the IPO. 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: Transforming India’s e-Governance

Protean eGov Technologies Limited, with its rich history dating back to 1995, has been instrumental in developing citizen-centric and population-scale e-Governance solutions. The company has been at the forefront of transforming India’s digital landscape, contributing to several critical initiatives and achieving significant milestones.

Some of the key achievements and contributions by Protean eGov Technologies Limited include:

  1. Modernizing Direct Tax Infrastructure: The company played a crucial role in the introduction of projects like PAN issuance, simplifying and enhancing the efficiency of the tax system for Indian citizens.
  2. Universal Social Security System: Protean eGov Technologies contributed to the creation of technology infrastructure as a Central Recordkeeping Agency (CRA) for the Atal Pension Yojana, making social security accessible to workers in the unorganized sector.
  3. Enhancing Education and Skill Financing: The company developed efficient digital marketplaces, such as Vidya Lakshmi and Vidyasaarathi, which have improved accessibility to education and skill financing, empowering individuals to pursue their educational goals.
  4. Open Network for Digital Commerce (ONDC): Protean eGov Technologies Limited has actively supported open digital building blocks like ONDC. This open-source initiative has far-reaching applications across sectors such as e-commerce, mobility, healthcare, agriculture, and education, enabling seamless digital transactions and fostering economic growth.

Protean eGov Technologies IPO Registrar

Link Intime India Private Ltd is the registrar for the Protean eGov Technologies IPO. For any queries or assistance regarding the IPO, you can reach out to them through the following contact details:

Protean eGov Technologies IPO Lead Managers

The Protean eGov Technologies IPO is being managed by some reputed financial institutions:

  1. ICICI Securities Limited
  2. Equirus Capital Private Limited
  3. IIFL Securities Ltd
  4. Nomura Financial Advisory and Securities (India) Pvt Ltd

Protean eGov Technologies IPO Timeline

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

IPO Open DateMonday, November 6, 2023
IPO Close DateWednesday, November 8, 2023
Basis of AllotmentMonday, November 13, 2023
Initiation of RefundsWednesday, November 15, 2023
Credit of Shares to DematThursday, November 16, 2023
Listing DateFriday, November 17, 2023
Cut-off time for UPI mandate confirmation5 PM on November 8, 2023
(Tentative Schedule)

Conclusion

Protean eGov Technologies Limited’s IPO is a significant milestone in the company’s journey of contributing to India’s e-Governance ecosystem. With a history of innovation and a commitment to enhancing the lives of Indian citizens through digital solutions, Protean eGov Technologies holds promise for investors looking to be a part of this transformative journey. However, potential investors should conduct thorough due diligence and consider the company’s financial performance and market conditions before participating in the IPO. As the IPO subscription period approaches, keep an eye on developments and market sentiment to make informed investment decisions.

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