IPO Details

Bidding Dates

06 Nov '23 - 08 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 6, 2023

IPO Closing Date

Nov 8, 2023

Basis of Allotment

Nov 13, 2023

Initiation of Refunds

Nov 15, 2023

Credit of Shares to Demat Account

Nov 16, 2023

IPO Listing Date

Nov 17, 2023

UPI Mandate Expiry Date

Nov 8, 2023

Protean eGov Technologies IPO Subscription Details

DateQIBNIIRetailEMPTotal

Day 1Nov 6, 2023

0.01x 1.65x 1.51x 0.31x 1.08x

Day 2Nov 7, 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

3
  1. Protean eGov Technologies is a pioneer and a market leader in universal, citizen-centric and population-scale e-governance solutions.

  2. They have made investments in technologies that have strengthened their competitive advantages and helped increase their operating leverage.

  3. The company operates its business with a large infrastructure and PAN India network, which helps in generating revenue growth.

Risks

3
  1. The primary revenue source for the company is the government and agencies associated with the Government of India.

  2. Data security breaches can compromise the company’s reputation and its profit.

  3. 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.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Protean eGov Technologies IPO FAQs

What is Protean eGov Technologies IPO?

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.

When will Protean eGov Technologies Limited’s IPO be allotted?

The Basis of Allotment will be on November 13, 2023.

When will Protean eGov Technologies Limited’s IPO open for subscription?

The IPO subscription window will open on November 06, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one, and the lot size is 13 shares.

When will Protean eGov Technologies Limited list on exchanges?

Protean eGov Technologies Limited IPO will be listed on BSE and NSE. The date of listing is November 17, 2023.

What would be the listing gains on the Protean eGov Technologies Limited IPO?

Listing gains cannot be ascertained before listing the IPO on the stock exchange.

I have finished the application process for the Protean eGov Technologies Limited IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Protean eGov Technologies Limited’s IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Protean eGov Technologies using one PAN?

You can submit only one application using one PAN card.