Protean eGov Technologies IPO Details ( Protean eGov Technologies Limited IPO Review )
(6 Nov 2023 – 8 Nov 2023)
Protean eGov Technologies Limited, originally known as NSDL e-Governance Infrastructure Limited, was founded in December 1995. For over 20 years, the company has been dedicated to creating user-friendly e-governance solutions.
Protean eGov Technologies has played a crucial role in developing India’s capital market infrastructure. They have designed and implemented important technological systems in the country.
Starting in December 2022, the company has overseen 19 projects across various government ministries.
Their work in digital infrastructure has led to several achievements, including:
- Modernizing the direct tax system with initiatives like PAN issuance.
- Establishing a universal social security system, especially for workers in the unorganized sector, by creating technology infrastructure for the Atal Pension Yojana.
- Improving access to education and skill financing through efficient digital platforms, such as Vidya Lakshmi and Vidyasaarathi.
- Contributing to open digital building blocks like the Open Network for Digital Commerce (ONDC) for sectors like e-commerce, mobility, healthcare, agriculture, and education. It’s worth noting that Protean eGov Technologies Limited has been a key early contributor to the open-source community and protocols that power ONDC.
Protean eGov Technologies Limited Company Product
- Tax Modernization
- Tax Information Network
- PAN Services
- Online PAN Verification
- Central Recordkeeping Agency – National Pension System
- Atal Pension Yojana (“APY”)
- National Identification
- Aadhaar
- Aadhaar Authentication / e-KYC Services
- e‐Sign Services
- Education and Skill Financing Solutions
- Other Projects
- Sunset Project – Vidya Kaushal
- National Judicial Reference System (“NJRS”)
- Workflow Approval Management System for Central Board of Film Certification (“CBFC”)
- GST Pilot Implementation
- GST Application Service Provider (“ASP”) and GST Suvidha Provider (“GSP”) services
- Revenue Management System (“RMS”)
Protean eGov Technologies Limited IPO Competitive Strength
- Pioneer and market leader in universal, citizen centric and population scale e-governance solutions
- Secure, scalable and advanced technology infrastructure
- Large physical infrastructure with pan-India network and scale resulting in inclusion
- Diversified, granular and annuity based service offerings
- Track record of healthy financial performance
- Experienced senior management team backed by strong corporate governance standards and supported by marquee investors
Protean eGov Technologies IPO Financials Performance ( Results )
Protean eGov Technologies Limited Financial Information (Restated Consolidated)
All Amount in ₹ Crores
| Period Ended | Total Assets | Total Revenue | PAT | EPS (₹) | Net Worth | Reserves | Borrowing |
| 31-Mar-21 | 862.39 | 652.03 | 92.19 | 23.00 | 667.46 | 627.14 | |
| 31-Mar-22 | 988.14 | 770.18 | 143.94 | 35.75 | 788.00 | 747.43 | |
| 31-Mar-23 | 1,104.10 | 783.87 | 107.04 | 26.48 | 856.94 | 816.33 | |
| 30-Jun-23 | 1,133.86 | 233.17 | 32.21 | 7.96 | 888.10 | 847.48 |
Objective of Protean eGov IPO 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 Basic Details
| IPO Date | Nov 6, 2023 to Nov 8, 2023 |
| Listing Date | Friday, November 17, 2023 |
| Face Value | ₹10 per share |
| Price | ₹752 to ₹792 per share |
| Lot Size | 18 Shares |
| Issue Size | 6,191,000 shares of ₹10 (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 | NSE, BSE |
| Share holding pre issue | 40,446,732 |
| Share holding post issue | 40,446,732 |
| Company Promoters | No Promoters Holding |
Protean eGov Technologies IPO Reservation
| QIB Shares Offered | 50% of the Net Issue |
| NII (HNI) Shares Offered | 15% of the Net Issue |
| Retail Shares Offered | 35% of the Net Issue |
Protean eGov IPO Timetable
Protean eGov IPO will open on November 6, 2023 and close on November 8, 2023. You can join Protean eGov IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 6 November 2023 (Monday) |
| Closing Date | 8 November 2023 (Wednesday) |
| Basis of Allotment | 13 November 2023 (Monday) |
| Initiation of Refunds | 15 November 2023 (Wednesday) |
| Credit of Shares to Demat | 16 November 2023 (Thursday) |
| Listing Date | 17 November 2023 (Friday) |
| Deadline for UPI mandate confirmation | 5 PM on 8 November 2023 |
Protean eGov Technologies IPO Lot Size
For retail investors in Protean eGov Technologies IPO, 18 shares will come in 1 lot or the minimum investment will be ₹14,256. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹199,584.
| 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 Promoter Holding
| Pre Issue Share Holding | 00.00% |
| Post Issue Share Holding | 00.00% |
Protean eGov Technologies Ltd IPO Key Performance Indicator ( Valuation )
In the table given below, all the figures have been told according to the latest financial year.
| KPI | Values |
| Market Cap (₹ Cr.) | 3203.38 |
| Earning Per Share (EPS) | ₹26.48 per Equity Share |
| Net Asset Value (NAV) | ₹212.00 per Equity Share |
| P/E Ratio (P/E) (x) | 29.91 |
| Post P/E Ratio (P/E) (x) | 24.86 |
| Return on Net Worth (RoNW) (%) | 12.49 |
| Return on equity (ROE) (%) | 12.49 |
| Return on Capital Employed (ROCE) (%) | 16.13 |
| Debt/Equity Ratio | Coming Soon |
Protean eGov Technologies Ltd Peer Comparison
There are no listed companies in India that are comparable in all aspects of business and services that the Company provides. Hence, it is not possible to provide an industry comparison in relation to the Company.
Protean eGov Technologies IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| 4 November 2023 | ₹180 | – | – |
| 3 November 2023 | ₹180 | – | – |
| 2 November 2023 | ₹160 | – | – |
| 1 November 2023 | ₹150 | – | – |
Protean eGov Technologies IPO Detail Video:
Protean eGov Technologies IPO Subscription Status (Bidding Detail)
The Protean eGov Technologies IPO on November 8, 2023 at 7:00:00 PM was subscribed 23.86 times, with the retail category being subscribed 8.93 times, the NII (Non-Institutional Investor) category being subscribed 31.62 times, QIB (Qualified-Institutional Buyers) category being subscribed 46.94 times and the Employee category being subscribed 1.49 times.
| Category | Subscription |
| QIB | 46.94x |
| NII | 31.62x |
| Retail | 8.93x |
| Employee | 1.49x |
| Total | 23.86x |
Protean eGov Technologies IPO Prospectus
| Protean eGov Technologies IPO DRHP | Download |
| Protean eGov Technologies IPO RHP | Download |
| Protean eGov Technologies IPO Anchor Investors Details PDF | Download |
Protean eGov Technologies IPO Rating
| Our Rating | 3.5/5.0 |
Protean eGov Technologies Company Contact Information
Protean eGov Technologies Limited
Registered and Corporate Office: Times Tower, 1st Floor, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai 400 013, Maharashtra
Telephone: +91 22 4090 4242
Contact Person: Maulesh Kantharia, Company Secretary and Compliance Officer
E-mail: cs@proteantech.in
Website: www.proteantech.in
Corporate Identity Number: U72900MH1995PLC095642
Our Company is a Professionally Managed Company and Does Not Have an Identifiable Promoter
Protean eGov Technologies IPO Registrar
Link Intime India Private Limited
Registered Office: C-101, 1st Floor, 247 Park L.B.S. Marg Vikhroli (West)
Mumbai 400 083, Maharashtra, India
Tel: +91 22 49 18 6200
E-mail: protean.ipo@linkintime.co.in
Website: www.linkintime.co.in
Investor grievance Id: protean.ipo@linkintime.co.in
Contact person: Shanti Gopalkrishnan
SEBI registration no.: INR000004058
Protean eGov Technologies IPO Lead Manager
ICICI Securities Limited
Registered Office: ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi,
Mumbai 400 025, Maharashtra, India
Tel: +91 22 6807 7100
E-mail: protean.ipo@icicisecurities.com
Investor grievance Id: customercare@icicisecurities.com
Website: www.icicisecurities.com
Contact person: Rupesh Khant/ Ashik Joisar
SEBI registration no.: INM000011179
Equirus Capital Private Limited
Registered Office: 12th Floor, C Wing, Marathon Futurex, N M Joshi Marg,
Lower Parel, Mumbai – 400 013, Maharashtra, India
Tel: +91 22 4332 0700
E-mail: protean.ipo@equirus.com
Investor grievance Id: investorsgrievance@equirus.com
Website: www.equirus.com
Contact person: Ankesh Jain
SEBI registration no.: INM000011286
IIFL Securities Limited
Registered Office: 24th Floor, One Lodha Place Senapati Bapat Marg, Lower Parel
(West), Mumbai – 400 013, Maharashtra, India
Tel: +91 22 4646 4600
E-mail: protean.ipo@iiflcap.com
Investor grievance Id: ig.ib@iiflcap.com
Website: www.iiflcap.com
Contact person: Pinkesh Soni/ Dhruv Bhagwat
SEBI registration no.: INM000010940
Nomura Financial Advisory and Securities (India) Private Limited
Registered Office: Ceejay House, Level 11, Plot F, Shivsagar Estate,
Dr. Annie Besant Road, Worli, Mumbai 400 018, Maharashtra, India
Tel: +91 22 4037 4037
E-mail: proteanipo@nomura.com
Investor grievance Id: investorgrievances-in@nomura.com
Website: www.nomuraholdings.com/company/group/asia/india/index.html
Contact person: Vishal Kanjani
SEBI registration no.: INM000011419
Protean eGov Technologies IPO FAQs
What is the lot size of Protean eGov Technologies IPO?
The total size of Protean eGov Technologies IPO is ₹490.33 crores and this is a complete offer for sale (OFS) Issue.
When will Protean eGov Technologies IPO start?
Protean eGov Technologies IPO will open from 6 November 2023 and IPO will close on 8 November 2023.
What is the open date of Protean eGov Technologies IPO?
Protean eGov Technologies IPO will open date from 6 November 2023.
What is the last date ( close date ) of Protean eGov Technologies IPO?
Protean eGov Technologies IPO will close from 8 November 2023.
What is the price band of Protean eGov Technologies IPO?
Protean eGov Technologies IPO price band is ₹752 to ₹792. ( Upper Price Band: ₹792, Lower Price Band: ₹752 )
What is the minimum amount required to apply for Protean eGov Technologies IPO?
The minimum investment for retailers to apply for Protean eGov Technologies IPO is ₹14,256 and the maximum investment is ₹199,584.
What is going on gray market premium of Protean eGov Technologies IPO?
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How much is the GMP of Protean eGov Technologies IPO?
Watch Protean eGov Technologies IPO GMP Today: Click Here
What is the allotment date of Protean eGov Technologies IPO?
The allotment date of Protean eGov Technologies IPO is 13 November 2023.
How to check allotment status in Protean eGov Technologies IPO?
To check the allotment status of Protean eGov Technologies IPO, first of all go to the registrar website by clicking here, select your bad Protean eGov Technologies IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of Protean eGov Technologies IPO?
The listing date of Protean eGov Technologies IPO is 17 November 2023.
How much will be the listing gain in Protean eGov Technologies IPO?
View listing gain of Protean eGov Technologies IPO by Clicking Here
How much time Protean eGov Technologies IPO is subscribed?
Total 23.86 times subscribed in Protean eGov Technologies IPO out of which 8.93 times subscription was done in retail quota, 31.62 times subscription in NII quota and 46.94 times subscription in QIB quota.
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