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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 bidding started from November 6, 2023 and ended on November 8, 2023. The allotment for Protean eGov Technologies IPO was finalized on Monday, November 13, 2023. The shares got listed on BSE on November 13, 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.
| IPO Date | November 6, 2023 to November 8, 2023 |
| Listing Date | November 13, 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 post issue | 40,446,732 |
Protean eGov Technologies IPO offers 6,191,000 shares. 1,208,200 (19.52%) to QIB, 906,150 (14.64%) to NII, 2,114,350 (34.15%) to RII, 150,000 (2.42%) to employees and 1,812,300 (29.27%) to Anchor investors. 117,463 RIIs will receive minimum 18 shares and 1,118 (sNII) and 2,237 (bNII) will receive minimum 270 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 1,812,300 (29.27%) | NA |
| QIB Shares Offered | 1,208,200 (19.52%) | NA |
| NII (HNI) Shares Offered | 906,150 (14.64%) | |
| bNII > ₹10L | 604,100 (9.76%) | 2,237 |
| sNII < ₹10L | 302,050 (4.88%) | 1,118 |
| Retail Shares Offered | 2,114,350 (34.15%) | 117,463 |
| Employee Shares Offered | 150,000 (2.42%) | NA |
| Total Shares Offered | 6,191,000 (100%) |
Protean eGov Technologies IPO raises Rs 143.53 crore from anchor investors. Protean eGov Technologies IPO Anchor bid date is November 3, 2023. Protean eGov Technologies IPO Anchor Investors list
| Bid Date | November 3, 2023 |
| Shares Offered | 1,812,300 |
| Anchor Portion Size (In Cr.) | 143.53 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 13, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 11, 2024 |
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 | Monday, November 13, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 8, 2023 |
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 | |||
Incorporated in December 1995, Protean eGov Technologies Limited provides IT services. The Company offers citizen services, e-governance solutions, system integration, business process re-engineering, data centre co-location, and IT consulting services for citizens, corporations and the Government.
The key projects that Protean eGov Technologies Limited has executed or is involved in are Tax Information Network (TIN), PAN services, Central Recordkeeping Agency (CRA) - National Pension System (NPS), Atal Pension Yojana (APY), Unique Identification (UID/Aadhaar) - Registrar, Goods and Services Tax( GST), Aadhaar Authentication & e-KYC Services, and more.
Since December 2022, the company has implemented and managed 19 projects spread across several ministries. The company have a pan-India physical network of over 167,000 centres, which includes over 79,000 PAN and TIN facilitation centres and over 88,000 points of presence, as of June 30, 2023.
The company's vital role in developing digital infrastructural solutions has led to the achievement of multiple milestones. Among them is Modernizing direct tax infrastructure by introducing projects like PAN issuance. The company has enabled the universal social security system for all Indians, particularly for unorganised workers, 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 by developing 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'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 | ||||
The market capitalization of Protean eGov Technologies IPO is Rs 3203.38 Cr.
| KPI | Values |
|---|---|
| ROE | 12.49% |
| ROCE | 16.13% |
| RoNW | 12.49% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 26.48 | |
| P/E (x) | 29.91 | 24.86 |
[Dilip Davda] PETL has established itself as a niche player in e-Governance projects and expanding its reach to neighboring countries. Based on FY24 annualized earnings, the issue appears fully priced. With the rising importance of eGovernance globally, this company is set for bright prospects ahead. Investors may park fund for the medium to long-term rewards in this dividend paying company. Read detail review...
The Protean eGov Technologies IPO is subscribed 23.86 times on November 8, 2023 7:02:00 PM. The public issue subscribed 8.93 times in the retail category, 46.94 times in the QIB category, and 31.62 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 46.94 |
| NII | 31.62 |
| bNII (bids above ₹10L) | 33.14 |
| sNII (bids below ₹10L) | 28.58 |
| Retail | 8.93 |
| Employee | 1.49 |
| Total | 23.86 |
Total Application : 890,571 (7.58 times)
| Listing Date | November 13, 2023 |
| BSE Script Code | 544021 |
| NSE Symbol | |
| ISIN | INE004A01022 |
| Final Issue Price | ₹792 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹792.00 |
| ₹792.00 |
| ₹775.00 |
| ₹890.90 |
| ₹883.00 |
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/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: protean.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Protean eGov Technologies IPO is a main-board IPO of 6,191,000 equity shares of the face value of ₹10 aggregating up to ₹490.33 Crores. The issue is priced at ₹752 to ₹792 per share. The minimum order quantity is 18 Shares.
The IPO opens on November 6, 2023, and closes on November 8, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE.
Zerodha customers can apply online in Protean eGov Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Protean eGov Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Protean eGov Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Protean eGov Technologies IPO opens on November 6, 2023 and closes on November 8, 2023.
Protean eGov Technologies IPO lot size is 18 Shares, and the minimum amount required is ₹14,256.
You can apply in Protean eGov Technologies IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Protean eGov Technologies IPO will be done on Monday, November 13, 2023, and the allotted shares will be credited to your demat account by Thursday, November 16, 2023. Check the Protean eGov Technologies IPO allotment status.
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