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 name | Protean eGov Technologies Limited |
| Sector | Finance |
| Industry | Finance – NBFC |
| Company Website | https://www.proteantech.in/ |
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 date | 06 November 2023 |
| IPO Closing | 08 November 2023 |
| Basis of Allotment | 13 November 2023 |
| Initiation Refund | 15 November 2023 |
| Credit to Demat Account | 16 November 2023 |
| Listing Date | 17 November 2023 |
Protean eGov Technologies IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹490.33 Cr – 6,191,000 shares |
| Fresh Issue | ₹490.33 Cr – 6,191,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹752 to ₹792 per share |
| Lot size | 18 Shares |
| Employee Discount | ₹75 per share |
| Shareholding pre-issue | 40,446,732 |
| Shareholding post-issue | 40,446,732 |
| Listing Exchange | BSE |
Protean eGov Technologies IPO Lot Size
| 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 |
Protean eGov Technologies IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Protean eGov Technologies Financial Performance
| FY 2021 | FY 2022 | FY 2023 | Q1 FY 2024 | |
| Revenue | 603.13 | 690.91 | 742.21 | 220.40 |
| Expenses | 536.03 | 584.55 | 643.45 | 191.44 |
| Net income | 89.33 | 147.56 | 106.21 | 27.78 |
| Margin (%) | 14.81 | 21.38 | 14.31 | 12.60 |
Protean eGov Technologies Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 23.00 | 35.75 | 26.48 |
| PE ratio | – | – | 28.4 – 29.91 |
| RONW (%) | 13.81 | 18.27 | 12.49 |
| NAV | 166.29 | 195.13 | 212.0 |
| ROCE (%) | 16.93 | 22.91 | 16.13 |
| ROE (%) | 13.81 | 18.27 | 12.49 |
| EBITDA (%) | 22.17 | 29.40 | 21.51 |
Company Promoters
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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
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Telephone: 022 4918 6200
Email: protean.ipo@linkintime.co.in
Website: www.linkintime.co.in
Protean eGov Technologies Contact Details
PROTEAN eGOV TECHNOLOGIES LIMITED
Times Tower, 1st Floor, Kamala Mills Compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013, Maharashtra
Phone: +91 22 4090 4242
E-mail: cs@nsdl.co.in
Website: www.proteantech.in
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
