Protean eGov Technologies IPO is a book built issue of Rs 490.33 crores. The issue is entirely an offer for sale of 0.62 crore shares.
Protean eGov Technologies IPO opens for subscription on November 6, 2023 and closes on November 8, 2023. The allotment for the Protean eGov Technologies IPO is expected to be finalized on Monday, November 13, 2023. Protean eGov Technologies IPO will list on BSE with tentative listing date fixed as Friday, November 17, 2023.
Protean eGov Technologies IPO price band is set at ₹752 to ₹792 per share. The minimum lot size for an application is 18 Shares. The minimum amount of investment required by retail investors is ₹14,256. The minimum lot size investment for sNII is 15 lots (270 shares), amounting to ₹213,840, and for bNII, it is 71 lots (1,278 shares), amounting to ₹1,012,176.
The issue includes a reservation of up to 150,000 shares for employees offered at a discount of Rs 75 to the issue price.
ICICI Securities Limited, Equirus Capital Private Limited, Iifl Securities Ltd and Nomura Financial Advisory And Securities (India) Pvt Ltd are the book running lead managers of the Protean eGov Technologies IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Protean eGov Technologies IPO RHP for detailed information.
Protean eGov Technologies IPO Details
| IPO Date | November 6, 2023 to November 8, 2023 |
| Listing Date | [17 NOVEMBER 2023.] |
| Face Value | ₹10 per share |
| Price Band | ₹752 to ₹792 per share |
| Lot Size | 18 Shares |
| Total Issue Size | 6,191,000 shares (aggregating up to ₹490.33 Cr) |
| Offer for Sale | 6,191,000 shares of ₹10 (aggregating up to ₹490.33 Cr) |
| Employee Discount | Rs 75 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE |
| Share holding pre issue | 40,446,732 |
| Share holding post issue | 40,446,732 |
Protean eGov Technologies IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Protean eGov Technologies IPO Timeline (Tentative Schedule)
Protean eGov Technologies IPO opens on November 6, 2023, and closes on November 8, 2023.
| IPO Open Date | Monday, November 6, 2023 |
| IPO Close Date | Wednesday, November 8, 2023 |
| Basis of Allotment | Monday, November 13, 2023 |
| Initiation of Refunds | Wednesday, November 15, 2023 |
| Credit of Shares to Demat | Thursday, November 16, 2023 |
| Listing Date | Friday, November 17, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 8, 2023 |
Protean eGov Technologies IPO Lot Size
Investors can bid for a minimum of 18 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 |
| Lot Size Calculator |
About Protean eGov Technologies Limited
Incorporated in December 1995, Protean eGov Technologies Limited was previously known as NSDL e-Governance Infrastructure Limited. The company is engaged in the business of developing citizen-centric and population-scale e-governance solutions for more than 2 decades.
Protean eGov Technologies has played a vital role in developing national infrastructure for capital market development in India. The company has developed & implemented some of the most crucial technological infrastructure in India.
Since December 2022, the company has implemented and managed 19 projects spread across several ministries.
The company’s vital role in developing digital infrastructural solutions has led to the achievement of multiple milestones. Key amongst them are
- Mordernizing direct tax infrastructure through the introduction of projects like PAN issuance.
- The company has enabled the universal social security system for all Indians, in particular for workers in the unorganized sector, by creating technology infrastructure as a CRA for the Atal Pension Yojana.
- The company has also been instrumental in improving accessibility to education and skill financing through the development of efficient digital marketplaces. This has led to the discovery of financial resources through platforms such as Vidya Lakshmi and Vidyasaarathi.
- The company has contributed to and supported open digital building blocks such as Open Network for Digital Commerce (ONDC) for use-cases across sectors like e-commerce, mobility, healthcare, agriculture, and education. It is worth mentioning that Protean eGov Technologies Limited is one of the key and early contributors to the open-source community and protocols that power ONDC.
Protean eGov Technologies Limited Financial Information (Restated Consolidated)
Protean eGov Technologies Limited’s revenue increased by 1.78% and profit after tax (PAT) dropped by -25.63% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,133.86 | 1,104.10 | 988.14 | 862.39 |
| Revenue | 233.17 | 783.87 | 770.18 | 652.03 |
| Profit After Tax | 32.21 | 107.04 | 143.94 | 92.19 |
| Net Worth | 888.10 | 856.94 | 788.00 | 667.46 |
| Reserves and Surplus | 847.48 | 816.33 | 747.43 | 627.14 |
| Total Borrowing | ||||
| Amount in ₹ Crore |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 29.91 |
| ROE | 12.49% |
| ROCE | 16.13% |
| EPS (Rs) | 26.48 |
| RoNW | 12.49% |
Check Protean eGov Technologies IPO Peer Comparison here.
Objects of the Issue (Protean eGov Technologies IPO Objectives)
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 Limited Contact Details
Protean eGov Technologies Limited
Times Tower, 1st Floor,
Kamala Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai 400 013,
Phone: +91 22 4090 4242
Email: cs@proteantech.in
Website: https://www.proteantech.in/
Protean eGov Technologies IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: protean.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html