Protean eGov Technologies IPO

Protean eGov Technologies IPO will open for subscription from 06 November 2023. The company aims for an issue size of ₹490.33 Cr through this IPO.

Company Overview

Full nameProtean eGov Technologies Limited
IndustryFinance – NBFC
Company Website

About Company

Incorporated in 1995, Protean eGov Technologies is one of the key IT-enabled solutions companies in India engaged in conceptualizing, developing, and executing nationally critical and population-scale greenfield technology solutions. The company has played a vital role in developing national infrastructure for capital market development in India. It has developed & implemented some of the most crucial technological infrastructure in India.

Since 30 June 2023, Protean eGov Technologies has implemented and managed 19 projects spread across seven ministries and autonomous bodies ushering change in the public delivery of services. Some of the projects handled by the company include PAN issuance, TIN, OLTAS, CRA for the National Pension System (NPS), and Atal Pension Yojana (APY), among others. The company has been profitable since FY 1999 and has consistently declared and paid dividends since FY 2001.

The Objectives of the Issue

  • 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 Timetable

IPO Opening date06 November 2023
IPO Closing08 November 2023
Basis of Allotment13 November 2023
Initiation Refund15 November 2023
Credit to Demat Account16 November 2023
Listing Date17 November 2023
(Cut-off time for UPI mandate confirmation – 5 PM on November 8, 2023)

Protean eGov Technologies IPO details

Issue typeBook Built Issue IPO
IPO issue size₹490.33 Cr – 6,191,000 shares
Fresh Issue₹490.33 Cr – 6,191,000 shares
Offer for saleNil
Face value₹10 per share
Price Band₹752 to ₹792 per share
Lot size18 Shares
Employee Discount₹75 per share
Shareholding pre-issue40,446,732
Shareholding post-issue40,446,732
Listing ExchangeBSE

Protean eGov Technologies IPO Lot Size

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 Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Protean eGov Technologies Financial Performance

 FY 2021FY 2022FY 2023Q1 FY 2024
Net income89.33147.56106.2127.78
Margin (%)14.8121.3814.3112.60
(Amount in ₹ Crores)

Protean eGov Technologies Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio28.4 – 29.91
RONW (%)13.8118.2712.49
ROCE (%)16.9322.9116.13
ROE (%)13.8118.2712.49
EBITDA (%)22.1729.4021.51

Company Promoters

Promoter Holding

Pre Issue Share Holding
Post Issue Share Holding

Protean eGov Technologies IPO Lead Manager(s)

  • ICICI Securities Limited
  • Equirus Capital Private Limited
  • IIFL Securities Ltd
  • Nomura Financial Advisory And Securities (India) Pvt Ltd

Protean eGov Technologies Registrar

C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Telephone: 022 4918 6200

Protean eGov Technologies Contact Details

Times Tower, 1st Floor, Kamala Mills Compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013, Maharashtra
Phone: +91 22 4090 4242

Protean eGov Technologies IPO Allotment Status

Protean eGov IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.

Final thoughts

Protean eGov Technologies IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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