Protean eGov Technologies Limited was previously known as NSDL e-Governance Infrastructure Limited. Protean eGov Technologies Ltd is a key IT-enabled solutions company in India engaged in conceptualizing, developing and executing nationally critical and population scale greenfield technology solutions.
They partner with the government and have over 25 years of experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions. They are among the leading Indian companies in the e-governance sector in terms of profitability, operating income, operating profit and operating profit margin in Fiscal 2023.
The company has been instrumental in establishing public digital infrastructure and creating e-governance interventions impacting multiple sectors of the Indian economy.
Since inception, they have implemented and managed 19 projects spread across 7 ministries and autonomous bodies.
These projects have resulted in reduction of turnaround time by digitizing processes, ensuring better compliance with government policies.
The company has been instrumental in establishing public digital infrastructure and creating e-governance interventions impacting
multiple sectors of the Indian economy. Key amongst them are:
- Mordernising 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 IPO – Details
| IPO Opening Date | 06 November 2023 |
| IPO Closing Date | 08 November 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 61,91,000 Shares Worth ₹490.33 Crore Offer For Sale: 61,91,000 Shares Worth ₹490.33 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹752 – ₹792 |
| Market Lot | 18 Shares |
| Min Order | 18 Shares (1 Lot) |
| Employee Discount | Rs 75 |
| Listing At | BSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Protean eGov Technologies IPO – Date Schedule
| IPO Open Date | 06 November 2023 |
| IPO Close Date | 08 November 2023 |
| Basis of Allotment Date | 13 November 2023 |
| Initiation of Refund | 15 November 2023 |
| Credit of Shares to Demat Account | 16 November 2023 |
| IPO Listing Date | 17 November 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on 08 November 2023 |
Protean eGov Technologies IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 18 | 14,256 |
| Retail (Max) | 14 | 252 | 1,99,584 |
| S-HNI (Min) | 15 | 270 | 2,13,840 |
| S-HNI (Max) | 70 | 1260 | 9,97,920 |
| B-HNI (Min) | 71 | 1278 | 10,12,176 |
Competitive Strengths
- 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;
- Diversified, granular and annuity based service offerings;
- Track record of healthy financial performance.
Company Promoters
- The Company is a professionally managed company and does not have any identifiable promoter.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 652.02 | 536.02 | 92.18 | – |
| 31 March 2022 | 770.17 | 584.55 | 143.93 | – |
| 31 March 2023 | 783.87 | 643.45 | 107.04 | – |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 29.91 |
| Market Cap (₹ Cr.) | 3203.38 |
| ROE | 12.49% |
| ROCE | 16.13% |
| EPS (Rs) | 26.48 |
| RoNW | 12.49% |
Object 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 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 Promoter Holding
| Pre Issue Share Holding | 0.00% |
| Post Issue Share Holding | 0.00% |
Protean eGov Technologies IPO Prospectus
Company Contact Information
| 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 |
Protean eGov Technologies IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. Equirus Capital Private Limited 3. Nomura Financial Advisory and Securities (India) Private Limited 4. IIFL Securities Limited |
Protean eGov Technologies IPO FAQs
| What is Protean eGov Technologies IPO? Protean eGov Technologies IPO is a main-board IPO. The issue is priced at ₹752 to ₹792 per equity share. The IPO is to be listed on BSE. |
| When Protean eGov Technologies IPO will open? The IPO is to open on 06 November 2023 for QIB, NII, and Retail Investors. |
| What is Protean eGov Technologies IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Protean eGov Technologies IPO? You can apply Protean eGov Technologies IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Protean eGov Technologies IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Protean eGov Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Protean eGov Technologies IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Protean eGov Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Protean eGov Technologies IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Protean eGov Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Protean eGov Technologies IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Protean eGov Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Protean eGov Technologies IPO Size? Protean eGov Technologies IPO size is ₹490.33 Crore. |
| What is Protean eGov Technologies IPO Price Band? Protean eGov Technologies IPO Price Band is ₹752 to ₹792. |
| What is Protean eGov Technologies IPO Minimum and Maximum Lot Size? The minimum bid is 18 Shares with ₹14,256 amount while the maximum bid is 252 Shares with ₹1,99,584. |
| What is the Protean eGov Technologies IPO Allotment Date? Protean eGov Technologies IPO allotment date is 13 November 2023. |
| What is the Protean eGov Technologies IPO Listing Date? Protean eGov Technologies IPO listing date is 17 November 2023. The IPO is to list on BSE. |
