Protean eGov Technologies IPO details analysis– Should I invest?
Protean egov technologies IPO Details – You need to understand the company’s fundamentals, financials, and future growth prospects before investing in the Protean egov tech IPO. Even after the protean egov technologies limited share price is listed on the exchanges, you need to understand if you should keep on investing in the company for long-term or book listing gain. Let us find out.
Protean eGov Technologies IPO Details: Key Facts
- Protean egov technologies was originally incorporated as ‘National Securities Depository Limited’ (NSDL) on December 27, 1995.
- NSDL then demerged its e-governance business into a separate entity called NSDL e-Governance Infrastructure Limited.
- Mr. Gagan Rai who has been with NSDL since inception and since February 2008 as the Managing Director & CEO is now the Managing Director & CEO of NSDL e-Governance Infrastructure Limited.
- The company engaged in e-governance projects including the Tax Information Network, Issuance of Permanent Account Number Card, Central Recordkeeping Agency for the National Pension System, Registrar for the Unique Identification Number, etc.
- Protean egov technologies filed a Draft Red Herring Prospectus (DRHP) filing: December 24, 2021
- IPO opens date from November 6, 2023 to November 8, 2023
- IPO listing date Friday, November 17, 2023
- Protean eGov technologies IPO Price: ₹752 to ₹792 per share
- Face value of Protean eGov technologies IPO share price: ₹ 10
- Strong revenue track record over the last three years. Revenue from operation has increased from Rs754 Crore in FY2020 to Rs 770 crore in FY2022.
- The company partnered with various governmental and regulatory authorities to provide some of the finest e-Governance Infrastructures in the Country.
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Protean eGov technologies IPO listing date
Protean eGov technologies IPO Details
| Tata Tech IPO Details | Tata Tech IPO Date, Price and others |
|---|---|
| Protean eGov tech IPO Date | 6th to 8th November, 2023 |
| IPO Price band | ₹752 to ₹792 per share |
| IPO Allotment date | Monday, November 13, 2023 |
| Refunds Initiation date | Wednesday, November 15, 2023 |
| Credit of Shares to Demat Account | Thursday, November 16, 2023 |
| Protean eGov technologies IPO Listing Date | Friday, November 17, 2023 |
| Fresh Issue | Nil |
| Offer for Sale | 6,191,000 shares of ₹10 (aggregating up to ₹490.33 Cr) |
| Minimum bid (Lot size/ Amount) | 18 share / lot (Total Investment of ₹14,256) |
| Maximum bid (Lot size/ Amount) | 252 share / 14 lot (Total Investment of ₹199,584) |
| Face Value | INR 10 per share |
| Listing on | BSE & NSE |
Protean egov technologies filed DRHP for an initial public offering on December 24, 2021. According to DRHP, this IPO consists of an offer for sale (OFS) of 12,080,140 EQUITY SHARES.
Should I invest in the Protean egov Technologies IPO? Before deciding, it is important to understand the company and its business model to get a clear idea to make an investment decision. Promoters such as IIFL SPECIAL OPPORTUNITIES FUND series, THE UNIT TRUST OF INDIA, HDFC BANK LIMITED, AXIS BANK LIMITED, DEUTSCHE BANK A.G., PUNJAB NATIONAL BANK, and UNION BANK OF INDIA, and selling part of their stake in the company.
What is protean egov technologies limited?
Protean egov Technologies is India’s key IT-enabled solution company, engaged in conceptualizing, developing, and executing nationally critical and population-scale greenfield technology solutions.
Protean egov technologies demerged from NSDL and became NSDL e-gov company. The company has been the chief architect and implementer for some of the most critical and large-scale technology infrastructure projects in India.
This is one of the leading Indian companies in the e-governance sector in terms of profitability, operating income, operating profit, and operating profit margin in Fiscal 2020. Since inception, we have implemented and managed 18 projects spread across seven ministries and autonomous bodies.
Some of its key facts include
- Modernizing the direct tax infrastructure in India through projects like Permanent Account Number (“PAN”) issuance, the Tax Information Network (“TIN”) including Online Tax Accounting Systems (“OLTAS”).
- Building the core IT infrastructure as a Central Recordkeeping Agency (“CRA”) for the National Pension System (“NPS”).
- Enabling the universal social security system for all Indians, particularly the workers in the unorganized sector by creating technology infrastructure as a CRA for the Atal Pension Yojana (“APY”).
- Protean eGov Technologies Limited is the market leader in the NPS CRA segment occupying a market share of 97% in terms of NPS subscribers and 99% in terms of NPS AUM in Fiscal 2021.
- Protean has a leading market share in the provision of e-governance services such as management of the Tax Information Network, and PAN processing where the company had a market share of 60%, and 46.8% respectively, in Fiscal 2021.
Protean eGov Technologies Leadership team
Mr. Gagan Rai is the Managing Director & CEO of NSDL e-Governance Infrastructure Limited. NSDL attained new heights under the leadership of Mr. Rai by setting up some of the premier e-governance solutions in the country.
Protean eGov Technologies Competitor Analysis
The market for e-governance and digital transformation services is highly competitive. The company faces competition from global and Indian enterprise solution companies. However, as the company is one of two companies providing PAN services in India on behalf of the GoI, there is a strong entry barrier in this segment of the business.
One of the major competitors of the company is Kfin Technologies in terms of NPS subscribers. Other competitors are CDSL Ventures Ltd., CMS Computer Ltd., Computer Age Management Services (CAMS) Ltd., etc.
Protean egov technologies Revenue and Profit
The company has a track record of growth in revenue and profits. Between Financial Years 2020 and Financial Years 2022, the revenue grew from ₹ 754.64 Crore to ₹ 770.18 Crore. The profit after tax grew from ₹ 121.85 Crore to ₹ 143.94 Crore during the same time. The EPS remained stable at ₹ 2.91 in the Financial Year 2020 to ₹ 2.53 in the Financial Year 2021. The government of India is the major customer of the company.
| All amounts | March 31 | March 31 | March 31 | Dec 31 |
| Some Statistics | 2020 | 2021 | 2022 | 2022 |
| Total Revenue | 754.64 | 652.03 | 770.18 | 540.59 |
| Profit After Tax | 121.85 | 92.19 | 143.94 | 75.47 |
| Reserves and Surplus | 713.41 | 627.32 | 747.62 | 784.13 |
| Total Asset | 939.88 | 862.38 | 988.14 | 1,019.22 |
Objective Behind the Protean egov Technologies Limited IPO
- The company will not receive any proceeds from the Offer. This IPO is the total offer for sale and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.
Protean eGov technologies IPO review: Should I invest?
- PROTEAN EGOV TECHNOLOGIES is part of a government initiative to digitalize its citizen documents to promote e-governance.
- This company is one of the two companies that handle the government digitalization process. Hence the business is a kind of duopoly considering the government is the major customer of this company.
- The company has a Robust financial performance over the last three years.
- Scalable and Asset Light Business Model.
- Indian economy is expected to be over US$ 5 trillion by 2030 and the government of India is focusing on digitalization of all its activities.
- There are good opportunities for the company to play a strong role in Indian economic growth over the next decade.
- However, since the company depends on the government as a customer, any changes in government policy related to e-governance will have an impact on this company.
- It is wise to keep an eye on this company once it is listed on the exchanges.
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We endeavor to help you to understand different aspects of a company before you invest in the company’s IPO. Learn all company insights for investment in new companies in the Indian share market 2023. To know more information about company insights for investment, business overview of companies for investment, here are some suggested readings on company insights for investment –10 Best IPOs in 2022, Tata Motors Stock Price, Tesla Stock Price Prediction 2025, Highest Dividend paying stocks, 5 best upcoming IPOs in India.
Protean eGov Technologies IPO Allotment Status
Protean eGov Tech IPO allotment will be available on Link intime Limited website. To know your allotment status, get ready with your PAN number. Email – protean.ipo@linkintime.co.in, Phone: +91-22-4918 6270
Protean eGov Technologies IPO Contact Details
| Protean eGov Technologies Limited Times Tower, 1st Floor, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai 400 013, Phone: +91 22 4090 4242 Email: cs@proteantech.in Website: https://www.proteantech.in/ |
Protean eGov Technologies IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. Equirus Capital Private Limited 3. Iifl Securities Ltd 4. Nomura Financial Advisory And Securities (India) Pvt Ltd |
Protean eGov Technologies IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: protean.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |