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.
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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 ) |
|---|---|---|
| Profit after tax | 1,070.42 | 1,439.37 |
| Revenue From Operation | 7,422.06 | 6,909.09 |
| EBITDA | 1,596.30 | 2,031.01 |
| Equity Share Capital | 404.21 | 403.84 |
| Total Borrowings | Nil | Nil |
Know before investing
Strengths
3Protean 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
3The 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.
