Protean eGov Technologies IPO: Open/Close Date, Price, Lot Size & Allotment

IPO Details

Bidding Dates

05 Nov '23 - 07 Nov '23

Minimum Investment

₹14,256 / 1 Lots ( 18 Shares )

Price Range

₹752 - ₹792

Maximum Investment

₹199,584 / 14 Lots ( 252 Shares )

Retail Discount

Not Applicable

Issue Size

₹490.33 Cr

Investor category and sub category

Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |

Protean eGov Technologies IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Nov 5, 2023

IPO Closing Date

Nov 7, 2023

Basis of Allotment

Nov 12, 2023

Initiation of Refunds

Nov 14, 2023

Credit of Shares to Demat Account

Nov 15, 2023

IPO Listing Date

Nov 16, 2023

UPI Mandate Expiry Date

Nov 7, 2023

Protean eGov Technologies IPO Subscription Details

Date	QIB	NII	Retail	EMP	Total
Day 1Nov 5, 2023	0.01x	1.65x	1.51x	0.31x	1.08x
Day 2Nov 6, 2023	0.07x	6.24x	3.91x	0.77x	3.22x

Protean eGov Technologies IPO Subscription Live Status

Investor Category	Subscription (Times)
Qualified Institutions Buyers	0.07
Non-Institutional Buyers	6.24
Retail Investors	3.91
Employees	0.77
Total	3.22

About Company

Incorporated in 1995, Protean eGov Technologies Limited is engaged in providing conceptualising, developing and executing nationally critical and population-scale greenfield technology solutions. The company has implemented and managed 18 projects spread across 7 ministries and autonomous bodies, ushering change in the public delivery of services since its incorporation.

The company has been involved in modernising the direct tax infrastructure in India via projects like Permanent Account Number (PAN) issuance

and the Tax Information Network (TIN).

The company operates its activities under the IT Infrastructure sector, which is likely to witness growth on the back of numerous factors, such as rising internet penetration in India, financial inclusion, the government’s outlay on the promotion of digital payments, rising spending by the government on IT and telecom, etc.

Protean eGov Technologies Limited IPO Details

Protean eGov Technologies Limited IPO Date

Protean eGov Technologies Limited's IPO is a 100% offer for sale (OFS). The OFS comprises 61,91,000 shares aggregating up to ₹490.33 Cr. Protean eGov Technologies Limited’s IPO will be listed on the BSE and NSE on November 17, 2023. It is a book-built issue IPO.

Protean eGov Technologies Limited IPO Price Band

The price range of the IPO has been fixed at ₹752 to ₹792 per share.

Protean eGov Technologies Limited IPO Lot Size

The Protean eGov Technologies Limited IPO lot size is 18 shares, and the minimum investment will be ₹14,256.

Protean eGov Technologies Limited IPO Objectives

As per DRHP, the proceeds raised from the offer will go to selling shareholders. The company will not receive any proceeds from the offer.

Peer Details

As per DRHP, Protean eGov Technologies Limited has no listed peers.

How To Check the Allotment Status of the Protean eGov Technologies Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app
Go to the IPO Section and then to IPO Orders
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Protean eGov Technologies Limited

Registered office: Times Tower, 1st Floor, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai 400 013, Maharashtra, India

Phone: +91 22 4090 4242

E-mail:cs@nsdl.co.in;

Protean eGov Technologies Company Financials

Particulars	As of March 31, 2023 ( ₹ million )	As of March 31, 2022 ( ₹ million )	As of March 31, 2021 ( ₹ million )
Profit after tax	1,070.42	1,439.37	921.87
Revenue From Operation	7,422.06	6,909.09	7,552.40
EBITDA	1,596.30	2,031.01	1,337.38
Equity Share Capital	404.21	403.84	401.39
Total Borrowings	Nil	Nil	Nil

Know before investing

Strengths

Protean eGov Technologies is a pioneer and a market leader in universal, citizen-centric and population-scale e-governance solutions.
They have made investments in technologies that have strengthened their competitive advantages and helped increase their operating leverage.
The company operates its business with a large infrastructure and PAN India network, which helps in generating revenue growth.

Risks

The primary revenue source for the company is the government and agencies associated with the Government of India.
Data security breaches can compromise the company’s reputation and its profit.
It is exposed to risks arising from the failure to provide solutions that meet the client’s requirements. As a result, its future cash flow could be impacted.