Protean eGov Technologies limited is among India’s leading IT-enabled solution firms (Source: CRISIL Report), conceiving, creating, and implementing national and population-scale greenfield digital services. Protean eGov Technologies IPO will hit the stock market in May 2021.
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About Protean eGov
They work with the government and have a lot of expertise building digital public infrastructure and producing citizen-centric e-government solutions.
They began as a repository in 1995 and have since grown into a systemically essential national infrastructure for India’s capital market growth.
They’ve worked on a few of India’s most important and large-scale technology infrastructure projects as the primary architect and implementer.
They claim that their solutions have identified bottlenecks in government services, increased openness and efficiency, redesigned public service delivery, and reduced service delivery costs.
In Fiscal 2020, they are one of the top Indian e-governance enterprises in terms of profitability, total revenue, operating profit, and operating profit margin.
Project & Focus
They have executed and supervised 18 projects spanning seven ministries and autonomous organisations since their establishment, ushering in transformation in public service delivery. Their main focus has been on the ministries listed below:
They played a key role in developing public online infrastructure and designing e-governance actions that have a broad influence across the Indian economy.
In their opinion, these projects have reduced turnaround time by digitising processes, improved compliance with government laws, and increased transparency by enabling stakeholders with real-time reports and dashboards.
They ‘ve successfully reacted to technological advancements over the years by investing continuously in new innovations and techniques, as well as establishing complex technology framework.
Key Interventions
These are some of the important interventions by protean eGov technologies:
- Modernizing India’s direct tax infrastructure with projects such as PAN issuance and the Tax Information Network, which includes Online Tax Accounting Systems.
- Building the key IT infrastructure as a Central Recordkeeping Agency for the National Pension System to strengthen the government’s old age security system.
- Developing IT infrastructure as a CRA for the Atal Pension Yojana to enable a universal social security system for all Citizens, particularly those in the unorganised sector.
- Creating efficient digital marketplaces that enable the finding of financial resources, including Vidya Lakshmi, Vidyasaarathi, and Vidya Kaushal, to improve access to education and skill funding.
Protean eGov Technologies IPO
Protean eGov Technologies Limited, headquartered in Mumbai has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 12,080,140 equity shares on 24 December 2021.
The offer doesn’t includes any fresh issue and there is offer for sale (OFS) of 12,080,140 equity shares by the promoters mentioned in the DRHP. They are not looking for any Pre-IPO placement in this issue.
They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.
Financials Trends
| Particulars | For the year/period ended ( in Cr.) | ||||
|---|---|---|---|---|---|
| 30-Jun-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
| Total Assets | 874.96 | 862.38 | 939.87 | 869.60 | |
| Total Revenue | 143.09 | 652.03 | 754.64 | 788.50 | |
| Profit After Tax | 10.18 | 92.18 | 121.85 | 123.53 | |
Basic and Diluted Earnings Per Share
| Financial Period | Basic EPS (in INR) | Diluted EPS (in INR) | Weight |
| Financial Year 2021 | 23.02 | 23.00 | 3 |
| Financial Year 2020 | 30.48 | 30.41 | 2 |
| Financial Year 2019 | 30.90 | 30.86 | 1 |
| Weighted Average | 1.34 | 1.34 | |
| 30 Jun. 2021 | 2.54 | 2.53 |
Objects of the Issue
- Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
- To meet common corporate objectives.
Basis of the offer
They feel the following are among the basic aspects that go into determining the Offer Price:
- E-governance products that are universal, citizen-centric, and population-scale have been pioneered and are now market leaders.
- Infrastructure that is secure, scalable, and technologically advanced.
- Inclusion is the outcome of a massive physical infrastructure with a pan-India network and scale.
- Service options that are diverse, granular, and based on annuities.
- A track record of sound financial management.
Peer Comparison
Peer comprison is not possible because there are no publicly traded companies in India that operate in a similar industry to theirs.
Protean eGov IPO Details
| IPO Opening Date | May 2021 |
| IPO Closing Date | May 2021 |
| Issue Type | Book Building |
| Face Value | 10 per share |
| IPO Price | 0 to 0 per equity share |
| Market Lot | – |
| Min Amount | – |
| Listing At | BSE, NSE |
| Issue Size | 51,000,000 equity shares |
| Fresh Issue | 0 |
| Offer for Sale | 51,000,000 equity shares |
Protean IPO Date
Protean eGov Technologies IPO opening date is May 2021, and the closing date is May 2021. The Protean eGov Technologies issue may list in May 2021.
| IPO Opening Date | May 2021 |
| IPO Closing Date | May 2021 |
| Basis of Allotment Date | May 2021 |
| Initiation of Refunds | May 2021 |
| Credit of Shares to Demat Account | May 2021 |
| IPO Listing Date | May 2021 |
Basis of Allotment
| Type | % of Offer | Basis of Allotment |
|---|---|---|
| Qualified Institutional Buyer | 50 |
Roughly equivalent
|
| Non Institutional Investor | 15 |
Roughly equivalent
|
| Retail | 35 | Minimum 1 lot based on availability |
Protean eGov IPO Allotment Status
Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.
Here, you can find the Allotment Status of Protean eGov IPO.
Protean eGov Tech IPO GMP
Protean eGov IPO Grey Market Premium is 0. You can check out GMP of Other IPOs on below Links:
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Check Out the GMP of all Other IPOs
Protean eGov IPO Review
Protean IPO review will depend on the price band which will be announced after SEBI approval. Whenever it will be announced we will update you regarding review of Protean eGov Tech IPO is good or bad.
Protean eGov IPO Risk
- They are reliant on government organizations and bodies for a significant amount of their revenue.
- Their reputation could be damaged, and they could be held liable to their customers or authorities for damages resulting from the unintended publication of confidential and sensitive material.
- Global health epidemics, such as the recent COVID-19 outbreak, may have a materially negative impact on company business, financial position, and operating results.
- To run their business, they rely on telecommunications and information technology systems, platforms, and third-party facilities.
- There are lawsuits pending against their company. Any negative decision in such processes could expose them to liabilities/penalties and have a negative impact on their business.
Other Threats
- Client contracts are frequently cancelled without cause, which can have a detrimental impact on their sales and profits.
- Company may not be able to meet the government’s eligibility standards for high-value contracts.
- Their technology includes open source software in some areas, and their use of open source software may have a detrimental impact on their business.
- Their sales cycle is lengthy and is influenced by a number of circumstances outside their control, which could result in them spending a large amount of time and resources before generating revenue.
- They have engaged in related party transactions in the previously and may do so again in the future, which could result in conflicts of interest with equity owners.
Responsibilities
They recognise their obligation to society as a whole, hence their company strategy is built on the principles of social capitalism. They ‘re also aware of other critical components of sustainability, and they’re working to improve their operations in ways that influence ESG.
An outside firm conducted a comprehensive impact diagnostic evaluation, and they expect to incorporate the results of their audit into their strategic planning process.
The evaluation will aid them in identifying areas where they may improve in order to achieve their global and national sustainability goals.
Their customers benefit from their delivery methodology, which includes extensive experience in a variety of technologies, market knowledge and project managerial skills.
Protean eGov Technologies Track Record
They’ve successfully reacted to technological advancements over the years by investing continuously in new innovations and abilities, as well as establishing complex technology infrastructure.
They have technical expertise in a variety of industries, which allows them to create functions that cater to the needs of end-users, corporations, and government agencies.
Their business model has generated positive cash flows over time, with operational cash flows of 1,359.44, 535.10, and 1,001.19 million in Fiscal 2019, 2020, and 2021, correspondingly. Since fiscal year 2001, they have been profitable and have continuously announced and paid dividends.
We’ve made investments in digital solutions that, in their experience, have boosted their operating leverage, maintained scalability, and enhanced services while generating growth.
Protean eGov IPO Brokerage views
- Yes Securities : Not Updated
- Choice Brokering: Not Updated
- Axis Securities: Not Updated
- IIFL Securities: Not Updated
- Trade swift: Not Updated
- Anand Rathi : Not Updated
- ICICI Securities: Not Updated
Protean eGov IPO Subscription Status
| Date | Day | QIB | NII | Retail | Employees | Total Subscription |
| May 2021 | 1 | |||||
| May 2021 | 2 | |||||
| May 2021 | 3 |
Management
They are a professionally handled firm run by a top leadership team with substantial industry experience and knowledge who have helped them expand their activities and develop their products over the years.
Financial institutions like IIFL, NSE Investments Limited, SUUTI, Citicorp Finance India Limited, as well as public and private sector banks like State Bank of India, Punjab National Bank, Union Bank of India, Bank of Baroda and Canara Bank, HDFC Bank Limited, Axis Bank Limited, Deutsche Bank A.G, The Hong Kong and Shanghai Banking Corporation Limited, Standard Chartered Bank, and others, are some of their shareholders.
They attempt to widen and enhance the incorporation of sustainability-related factors into their activities.
Principal Shareholder
- NSEIL
Principal Shareholder’s Holding
| Pre Issue Share Holding | 24.88% |
| Post Issue Share Holding |
Protean eGov Technologies Prospectus
Contact Details
Protean eGov Technologies Limited
Times Tower, 1st Floor,
Kamala Mills Compound,
Senapati Bapat Marg, Lower Parel,
Mumbai 400 013, Maharashtra
Tel Number:+91 22 4090 4242
E-mail: [email protected]
Website: www.egov-nsdl.co.in
Registrar
Link Intime India Private Limited
C 101, 247 Park
L.B.S. Marg
Vikhroli (West), Mumbai 400 083
Maharashtra, India
Telephone: +91 22 4918 6200
E-mail: [email protected]
Website: www.linkintime.co.in
Lead Manager(s)
- ICICI Securities Limited
- Equirus Capital Private Limited
- IIFL Securities Limited
- Nomura Financial Advisory and Securities (India) Private Limited
We hope we are able to answer all your questions about Protean eGov Technologies IPO. If you don’t have a Demat account, open it now with Zerodha best trading app of India.
Disclaimer
The reference of IPO Grey Market Premium (IPO GMP) is only valid for the date specified in the header.
On the IPO Grey Market, we do not purchase or sell IPO forms.
The Kostak Rate is the profit earned by selling an IPO application (in an off-market transaction) to somebody else before the issue is allotted or listed.
Do not subscribe to an IPO based solely on the premium price, as it may alter at any time before to the listing. Only consider the fundamentals of the companies when subscribing.
The GMP rates for IPOs are based on market intelligence. Please keep in mind that these IPO GMP rates may vary by geography and market.
Note:
We do not engage in grey market trading or facilitate the purchase or sale of IPO forms. We don’t endorse such activities at all. We are sticky against such activities & never advise anyone to trade in grey market at all.
FAQ
Protean eGov Technologies IPO Opening Date?
Protean eGov Tech IPO will open in May 2021.
Protean eGov IPO Listing Date?
Protean IPO will list in May 2021.
Protean eGov Technologies IPO GMP Today?
Protean eGov IPO Grey Market Premium is INR 0 .
Protean eGov Tech IPO Allotment Date?
Protean eGov IPO basis of allotment will be in May 2021.
Lot size for Protean eGov IPO?
Lot size for Protean Technologies IPO is 0.
