Protean eGov Technologies is set to launch an IPO which will open on November 6, 2023, and close on November 8, 2023. Through this public offer the company wants to raise Rs. 490.33 Crore from the primary market, Company fixed the price band of Rs. 752 to 792 with a minimum lot of 18 shares, and listed on November 17, according to the preliminary papers filed to the capital market regulator SEBI.
About Protean eGov Technologies Company
Protean eGov Technologies (1995) is engaged in conceptualising, developing and executing nationally critical and population scale greenfield technology solutions.
It is the leading Indian company in the e-governance sector and has extensive experience in creating digital public infrastructure and also collaborates with the government.
Protean eGov Technologies IPO Object
The company will not receive any proceed from the offer, and same will be received by the selling shareholders
Protean eGov Technologies Strength
- Pioneer and market leader in universal, citizen centric and e-governance solutions.
- Secured, scalable business
- Large physical infrastructure with PAN India network
- Diversified and annuity based services offerings
Protean eGov Technologies Risk Factor
- Failure to anticipate and develop new services
- Inability to provide business solutions that meet clients needs
Protean eGov Technologies IPO Review & Rating
| Issue Size (Rs.) | 490.33 Crore |
| Issue Price (Rs.) | 752 to 792 /- per share |
| Minimum Lot Size | 18 share |
| Total Profit (March 2023) (Rs.) | 107.03 crore |
| RoCE (%) | 16.13% |
| NAV (Rs.) | 212 |
| Listing on | BSE and NSE |
| IPO Deliver Rating | Six |
Protean eGov Technologies IPO Dates, Price Band & Details
Protean eGov Technologies IPO will open on November 6, 2023, and close on November 8, 2023. The IPO list on November 17, 2023.
| Type of issue | Book Built Issue IPO |
| Issue Size (Rs.) | 490.33 crore |
| Face Value (Rs.) | 752 to 792/- per share |
| IPO Open Date | 6 November 2023 |
| IPO Close Date | 8 November 2023 |
| IPO Allotment Date | 13 November 2023 |
| Refund Date | 15 November 2023 |
| Share Credit Date | 16 November 2023 |
| Listing Date | 17 November 2023 |
Protean eGov Technologies IPO Offer
Protean eGov Technologies IPO total issue size is 6,191,000 shares which comprises below mentioned categories.
| Offer Category | Shares Offer | Amount (Rs.) |
| Fresh Issue | 6,191,000 | 490.33 |
| Offer for Sale (OFS) | – | – |
Protean eGov Technologies Financials Review (Crore)
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category (Rs.) | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| Total Revenue | 783.87 | 770.10 | 652.03 |
| Net Worth | 856.94 | 788 | 667.47 |
| Profit | 107.04 | 143.94 | 92.19 |
| Total Borrowings | – | – | – |
Protean eGov Technologies IPO Quantitative Factors
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| EPS (Rs.) | 26.50 | 35.78 | 23.02 |
| RoNW (%) | 12.49 | 18.27 | 13.81 |
| NAV (Rs.) | 212 | – | – |
Protean eGov Technologies IPO Peer Comparison (Top 2)
There are no listed companies in India that are comparable in all aspects of business.
| Company Names | EPS (Rs.) | RoNW (%) | NAV (Rs.) |
| – | – | – | – |
Protean eGov Technologies Company Promoters
As per the DRHP and RHP, the company has no Promoter.
| Serial No. | Name |
| 01. | N/A |
Protean eGov Technologies Pre-offer and Post-Offer Promoters Shareholding
| Promoter and promoter group Shareholding | Percentage (%) |
| Pre-Issue | – |
| Post- Issue | – |
Protean eGov Technologies IPO Reservation
Protean eGov Technologies IPO total reservation of 61,91,000 shares, distributed between the below-mentioned categories.
| Category | No. of Shares |
| QIB Share Offered | 19.52% |
| NII Share Offered | 14.64% |
| RII Share Offered | 34.15% |
Protean eGov Technologies IPO – Market Lot Size
An individual investor can apply for a minimum of 1 lot of 18 Shares and a maximum of 14 lots of 252 shares. Market lot sizes for retail investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
| Retail Minimum | 1 | 18 | 14,256 |
| Retail Maximum | 14 | 252 | 1,99,584 |
Protean eGov Technologies IPO – Prospectus
An investor can download/view the Protean eGov Technologies prospectus copy, which was filed by the company to SEBI, details are as follows.
| Protean eGov Technologies IPO Prospectus | Download/View Links |
| Draft Red Herring Prospectus (DRHP) | Click here |
| Red Herring Prospectus (RHP) | Click here |
Protean eGov Technologies IPO Registrar
Link Intime India Private Ltd
Tel No.: +91 22 49186200
E-Mail: protean.ipo@linkintime.co.in
Website: www.linkinitme.co.in
Protean eGov Technologies IPO lead manager
#1. ICICI Securities Limited
#2. IIFL Securities Limited
#3. Nomura Financial Advisory Securities Private Limited
#4. Equirus Capital Private Limited
Protean eGov Technologies IPO Application (How to Apply for an IPO)
There are primary four options for applying for a Protean eGov Technologies IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “Protean eGov Technologies Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked till the allotment date and after it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “Protean eGov Technologies Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your account or get refunded in case no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your bank account or refunded in case no allotment is made to you.
Option – 4 Apply for IPO through Stock Exchanges
NSE Form – Click to download
BSE Form – Click to download
Submit the form with your bank/broker.
Protean eGov Technologies Company Details
Protean e-Gov Technologies Limited (1995)
Registered Office: Times Tower, 1st Floor, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai-400013
Tel: +91-022 40904242
Email: cs@proteantech.in
Website: www.proteantech.in
Investor Grievances/Compliance Officer: Maulesh Kantharia
Protean eGov Technologies Subsidiary Companies (Top 2)
| Serial No. | Name of Companies |
| 01. | Protean Account Aggregator Limited |
| 02. | Protean Infosec Services Limited |
Protean eGov Technologies Company Board (Top 2)
| Serial No. | Name of Directors |
| 01. | Suresh Kumar Sethi |
| 02. | Jayesh Waman Sule |
Protean eGov Technologies IPO – Frequently Asked Questions (FAQ’s)
Q-1 What is Protean eGov Technologies IPO?
Ans: Protean eGov Technologies brings its mainboard IPO of Rs. 490.33 crore, on November 6, 2023, with a price band of Rs. 752 to 792 per share.
Q-2 what is Protean eGov Technologies IPO Open date?
Ans: Protean eGov Technologies IPO opening date is November 6, 2023.
Q-3 what is Protean eGov Technologies IPO Close date?
Ans: Protean eGov Technologies IPO closing date is November 8, 2023.
Q-4 What is Protean eGov Technologies IPO Listing date?
Ans: Protean eGov Technologies IPO listing date is November 17, 2023.
Q-5 What is Protean eGov Technologies IPO Minimum investment amount?
Ans: Protean eGov Technologies IPO minimum investment amount is Rs. 14,256.
Q-6 What is Protean eGov Technologies IPO offer issue Size?
Ans: Protean eGov Technologies offer an issue size of Rs. 490.33 Crores.
Q-7 What is Protean eGov Technologies IPO Price Band?
Ans: Protean eGov Technologies IPO price band is Rs 752 to 792 per share.
Q-8 Is Protean eGov Technologies IPO mainboard IPO or SME IPO?
Ans: Protean eGov Technologies IPO is the mainboard IPO.