Protean eGov Technologies was incorporated on 27 December 1995. The company is one of the key IT-enabled solution companies in India, engaged in conceptualizing, developing, and executing nationally critical and population-scale greenfield technology solutions.
| Bidding Dates |
|---|
| 06 Nov 2023 - 08 Nov 2023 |
| Subscription |
|---|
| 23.86x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,256 | 1 | 14 | 18 | 6.2 M | ₹752 - ₹792 | - | ₹4655.6 M - ₹4903.3 M | RHP DOC |
Protean eGov Tech IPO SUBSCRIPTION STATUS
08 Nov '23Protean eGov Tech IPO overall subscription rate was 23.86 times the total available shares
Protean eGov Tech IPO retail subscription rate was 8.93 times in the retail segment
Protean eGov Tech IPO non-institutional investor subscription rate was 31.62 times in the non-institutional investor category
Protean eGov Tech IPO Qualified Institutional Bidder subscription rate was 46.94 times the available shares for Qualified Institutional Bidder
Protean eGov Tech IPO Employees subscription rate was 1.49 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
08 Nov 2023 (Day 3) | 8.93x | 31.62x | 46.94x | 1.49x |
07 Nov 2023 (Day 2) | 3.89x | 6.23x | 0.07x | 0.76x |
06 Nov 2023 (Day 1) | 1.49x | 1.65x | 0.01x | 0.31x |
Protean eGov Tech FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q1FY24 | 322.1 | 2,204.0 | -79.0 | -155.8 | 15.5% |
| Q1FY23 | 212.7 | 1,567.5 | 109.4 | 45.0 | 13.8% |
| FY23 | 1,070.4 | 7,422.1 | 1,370.2 | 1,131.7 | 15.9% |
| FY22 | 1,439.4 | 6,909.1 | 942.7 | 2,072.8 | 17.9% |
| FY21 | 921.9 | 6,031.3 | 1,001.2 | 908.0 | 14.1% |
Protean eGov Tech IPO SUBSCRIPTION STATUS DETAILS
Protean eGov Tech had 6.2 M shares on offer
Protean eGov Tech IPO offer price was in the range ₹752 - ₹792
Protean eGov Tech IPO minimum Investment was ₹14256
Protean eGov Tech IPO issue size was ₹ 4655.6 M - ₹ 4903.3 M
Protean eGov Tech had a minimum lot size of 18 Shares per application
Protean eGov Tech NUMBER OF SHARES ON OFFER
Protean eGov Tech IPO IMPORTANT DATES
| Issue Open Date | 06 Nov 2023 |
| Issue close Date | 08 Nov 2023 |
| Allotment Date | 09 Nov 2023 |
| Refund Date | 10 Nov 2023 |
| Demat Account Credit Date | 10 Nov 2023 |
| Listing Date | 13 Nov 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Protean eGov Tech Allotment Status | Exchange |
Protean eGov Tech IPO subscription opened on 06 Nov 2023, and closed on 08 Nov 2023
IPO allotment for Protean eGov Tech was finalized on Thursday, 09 Nov 2023
IPO listing for Protean eGov Tech was on NSE and BSE on Monday, 13 Nov 2023
Protean eGov Tech IPO LISTING GAINS
| Issue Price (adjusted) | 792.0 |
| Listing Open Price | 792.0 |
| Listing Close Price | 883.0 |
| Listing Gain% | 0.0% |
| Current Gain% | -28.4% |
Protean eGov Tech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Protean eGov Technologies Ltd. | 566.9 | 2292.9 | 27.9 | -2.1 | 2.2 | 9.3 | 6.8 | 1070.6 | 17.8 | 100.6 | 8.8 | 20.3 | -13.3 |
| Tata Consultancy Services Ltd. | 2425.7 | 877639.5 | 17.6 | 16.5 | 3.2 | 45.9 | 27 | 271423 | 4.7 | 49210 | 1.4 | 137.6 | 1.1 |
| Infosys Ltd. | 1183 | 480068.1 | 15.9 | 1.4 | 2.6 | 31.7 | 18.9 | 182972 | 9.8 | 29440 | 10.2 | 74.6 | 11.1 |
| HCL Technologies Ltd. | 1357.2 | 368298.6 | 21.1 | 8 | 2.7 | 22.1 | 14.3 | 131674 | 10.2 | 16642 | -4.3 | 64.2 | 2.6 |
| Wipro Ltd. | 185.5 | 183726.5 | 13.9 | -7.7 | 1.9 | 15 | 9.3 | 96497.7 | 3.8 | 13197.4 | 0.5 | 13.3 | -1.8 |
| Tech Mahindra Ltd. | 1640 | 160733.9 | 31.3 | 2.4 | 2.7 | 16.2 | 9.7 | 56847.3 | 5.6 | 4810.9 | 13.2 | 52.4 | 13.1 |
Protean eGov Tech INFORMATION ON IPO ISSUE
About Protean eGov Tech
Protean eGov Technologies was incorporated on 27 December 1995. The company is one of the key IT-enabled solution companies in India, engaged in conceptualizing, developing, and executing nationally critical and population-scale greenfield technology solutions.
Object of the Issue
- To achieve the benefits of listing the equity shares on the stock exchange
- To carry out the offer for sale of up to 61,91,000 equity shares by the selling shareholders
Protean eGov Tech Book Running Lead Managers
ICICI Securities Limited
protean.ipo@icicisecurities.com
Protean eGov Tech Book Running Lead Manager
Equirus Capital Private Limited
protean.ipo@equirus.com
IIFL Securities Limited
protean.ipo@iiflcap.com
Nomura Financial Advisory and Securities (India) Private Limited
proteanipo@nomura.com
Protean eGov Tech Registrar to the Offer
Link Intime India Private Limited
protean.ipo@linkintime.co.in
Protean eGov Tech Strengths
Market leader
The company is a pioneer and market leader in universal, citizen-centric, and population-scale e-governance solutions
Large physical infrastructure
The company has a large physical infrastructure and has developed a pan-India service delivery network for various public and other services
Diversified service offerings
The company's diversified service offerings span sectors such as tax administration, pension record keeping, national identity and identity authentication, as well as education and skill financing solutions
Protean eGov Tech Risks
Pending litigations
There are pending litigations against the company, and any adverse decision in these proceedings could result in liabilities or penalties and may adversely affect the business
Faces competition
The company faces competition from both global and Indian enterprise solution providers, and any escalation in global competition or acquisition of advanced technical know-how or processes by its competitors could adversely affect the business
Negative cash flows
"The company has experienced negative cash flows from operating activities in the past and may continue to do so in the future
IPO FAQs
This IPO consists of an offer for sale of up to Rs 490.3 crore, of 6,191,000 shares.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 752.0 - 792.0.
The IPO application opens on Nov 06, 2023 and closes on Nov 08, 2023.
The minimum lot size for the IPO is 18. The maximum lot size for the IPO is 252.
For all category investors, the minimum application amount for this IPO is Rs. 14,256.0, the maximum value for this IPO is Rs 199,584.0.
This IPO will be allotted on Nov 09, 2023.
The refund will be credited to your account on Nov 10, 2023.
The allotted shares will be credited to your demat on Nov 10, 2023.
Protean eGov Technologies Ltd.’s shares listed on the stock exchanges on Nov 13, 2023.