Protean eGov Technologies Limited is coming up with an IPO with an offer to sell 1.2 crore equity shares by the existing shareholders. The company will not receive any proceeds from the offer but intends to provide liquidity to the existing shareholders and help build the brand image.
Protean eGov Technologies Limited IPO – Important Details
| Protean eGov Technologies Limited IPO Date | November 6, 2023 to November 8, 2023 |
| Protean eGov Technologies Limited IPO Listing Date | November 17, 2023 |
| Protean eGov Technologies Limited IPO Price | INR 752- 792 per share |
| Protean eGov Technologies Limited IPO Lot Size | 18 Shares |
| Protean eGov Technologies Limited IPO Total Issue Size | Offer to sale 1.2 crore existing equity shares |
| Protean eGov Technologies Limited IPO Basis of Allotment | November 13, 2023 |
| Protean eGov Technologies Limited IPO Initiation of Refunds | November 15, 2023 |
| Protean eGov Technologies Limited IPO Credit of Shares to Demat | November 16, 2023 |
| Protean eGov Technologies Limited IPO Issue Type | Book Built Issue IPO |
| Protean eGov Technologies Limited IPO Listing At | BSE, NSE |
Protean eGov Technologies Limited IPO – Company Profile
The company is one of India’s key IT-enabled solution companies engaged in conceptualizing, developing, and executing nationally critical and population-scale greenfield technology solutions. The company has collaborated with the government and has extensive experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions.
The company was originally setup as a depository in 1995 and created a systemically important national infrastructure for capital market development in India. The company has been the chief architect and implementer for some of India’s most critical and largest technology infrastructure projects.
Since its inception, the company has implemented and managed 18 projects spread across seven ministries and autonomous bodies, ushering change in the public delivery of services. Company’s primary engagement has been with the following ministries:
- Ministry of Finance
- Ministry of Education
- Ministry of Information and Broadcasting
- Ministry of Electronics and Information Technology
- Ministry of Communication
- Ministry of Skill Development and Entrepreneurship
Protean eGov Technologies IPO – Fundamental Analysis
Protean eGov Technologies displays a track record of consistent revenue growth and improved profitability. The recent decline in revenue and EPS in December 2022 requires further investigation. Investors should conduct thorough due diligence and consider market conditions before making investment decisions. Consulting with a financial advisor is recommended.
Revenue Growth:
Protean eGov Technologies has showcased consistent revenue growth, escalating from ₹6,031.32 million in 2021 to ₹6,909.09 million in 2022. Although there was a decline to ₹5,102.20 million by December 2022, the overall trend remains positive.
Profitability:
The company’s profitability has improved significantly. The profit after tax increased from ₹893.25 million in 2021 to ₹1,475.65 million in 2022, although it decreased to ₹747.79 million by December 2022.
Return on Net Worth (RoNW):
While the RoNW for 2022 is not available, it was a healthy 13.81% in 2021. However, the absence of RoNW data for 2022 is a limitation in assessing its financial health.
Earnings per Share (EPS):
Protean eGov Technologies’ Diluted EPS has shown some volatility. It grew from ₹23.00 in 2021 to ₹35.75 in 2022 but decreased to ₹18.66 by December 2022.
Net Asset Value (NAV):
Unfortunately, NAV information for 2022 is not provided, making evaluating the company’s asset value challenging.
Total Liabilities:
Total assets have been increasing over the years, while total liabilities have remained relatively stable, indicating growth and a stable financial structure.
Current Ratio:
The current ratio has been healthy, indicating good short-term liquidity. It increased from 2.18 in 2021 to 3.08 in 2022 and remained at 2.26 by December 2022.
Protean eGov Technologies IPO Financial Information
| Particular | As at 31 March 2021 | As at 31 March 2022 | As at 31st December 2022 |
| Revenue (₹ in Million) | 6,031.32 | 6,909.09 | 5,102.20 |
| Equity (₹ in Million) | 6,674.59 | 7,880.01 | 8,245.13 |
| Expenses (₹ in Million) | 5,360.25 | 5,845.53 | 4,410.57 |
| Profit and Loss After Tax (₹ in Million) | 8 93.25 | 1,475.65 | 747.79 |
| RoNW (%) | 13.81% | NA | NA |
| Diluted EPS only (₹) | 23.00 | 35.75 | 18.66 |
| Total Assets (in million) | 8,623.84 | 9,881.39 | 10,192.19 |
| Total Liabilities (in million) | 1,949.25 | 2,001.38 | 1,947.06 |
| Current Ratio | 2.18 | 3.08 | 2.26 |
Protean eGov Technologies IPO Peer Comparison
No listed companies in India engage in a business similar to that of the company.
Protean eGov Technologies Ltd IPO Objective
The main objective of Protean eGov Technologies Ltd IPO is to achieve the benefits of listing to enhance the visibility and brand image.
Protean eGov Technologies Ltd IPO Risks And Challenges
Protean eGov Technologies IPO faces risks related to telecom and IT system disruptions, technological innovation, and ongoing litigations, which could impact operations, finances, and reputation. Adaptation to evolving technology is crucial.
- The company relies on telecommunications and information technology systems, networks, and third-party infrastructure to operate the business. Any interruption or breakdown in such systems could impair the ability to deliver the products and services effectively.
- The business will suffer if it fails to anticipate and develop new services and enhance existing services to keep pace with rapid changes in technology and industries.
- There are pending litigations against the company. Any adverse decision in such proceedings may render us/them liable to liabilities/penalties and adversely affect the business, results of operations, cash flows, and reputation.
Protean eGov Technologies Ltd IPO – Industry & Market Potential
There has been a manifold increase in digital payments in the recent past. To further boost digital transactions, the finance minister in the Union Budget 2021-2022 earmarked ₹ 15 billion for a proposed scheme that would provide financial incentives to promote digital modes of payments. Initiatives such as tax audit exemptions for businesses based on digital payment usage and establishing a financial technology hub were also announced.
The two key initiatives launched by the government to promote financial inclusion are the Pradhan Mantri Jan Dhan Yojana (“PMJDY”) and Pradhan Mantri Jeevan Jyoti Bima Yojana (“PMJJBY”). Under the PMJDY, the government aims to ensure that every household in India has a bank account that they can access from anywhere and avail of all financial services such as savings and deposit accounts, remittances, credit, and insurance.
Over fiscal years 2021-2026, CRISIL Research expects domestic IT services’ revenue to log a compounded annual growth rate (CAGR) of 6-8%. The growth will be led by technology platform upgradation and e-governance initiatives of the central and state governments.
Protean eGov Technologies Ltd IPO – Type of Offer
Protean eGov Technologies Limited IPO will have an offer for sales of 1.2 crore equity shares by its current shareholders.
Protean eGov Technologies Ltd IPO Offer Size
The offer size of Protean eGov Technologies Limited IPO is 1.2 crore equity shares. The company will not raise funds from this IPO; the objective is to offer liquidity to its shareholders and bolster its brand reputation.
Protean eGov Technologies IPO Allotment Structure
Protean eGov Technologies’ IPO allocation designates 50% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for Retail Individual Investors (RIIs) in line with SEBI regulations.
● Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs. 2 lakhs.
● Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs. 2 lakhs.
How to apply for a Protean eGov Technologies IPO?
To apply for the Protean eGov Technologies Limited IPO through Alice Blue, you would typically follow these steps:
1. Open a Demat and Trading Account: If you don’t already have one, you need to open a Demat and trading account with Alice Blue.
2. Check for IPO Details: Once your account is active, you can check for the Protean eGov Technologies Limited IPO details in the IPO section of the Alice Blue platform.
3. Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
4. Submit the Application: Confirm all your details and submit your application.
You can apply for Protean eGov Technologies Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: Post the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How to Check Protean eGov Technologies Limited IPO Allotment Status on Alice Blue?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
4. Select the Protean eGov Technologies Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Protean eGov Technologies Limited IPO.
5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended to contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Protean eGov Technologies Limited IPO:
Registrar’s Website: Visit the website of Link Intime India Private Limited, the registrar of the Protean eGov Technologies Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
NSE and BSE: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after the allotment process has been completed, a few days after the IPO window closes.
Protean eGov Technologies IPO Offer Registrar
The registrar for the Protean eGov Technologies Limited IPO is Link Intime India Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: 022-4918 6200
Email: [email protected]
Website: www.linkintime.co.in
Protean eGov Technologies Limited IPO FAQs
The allotment date has not yet announced by the company.
The price band has not yet been announced by the company.
Protean eGov Technologies Limited is launching an IPO, wherein existing shareholders will sell 1.2 million equity shares. The company won’t receive funds from this, aiming to provide liquidity to shareholders and enhance its brand image.
The listing date has not yet been announced by the company.
