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Protean eGov Technologies Limited IPO Detail

Protean eGov Technologies Limited IPO Detail

Incorporated in December 1995, Protean eGov Technologies Limited was previously known as NSDL e-Governance Infrastructure Limited. The company is engaged in the business of developing citizen-centric and population-scale e-governance solutions for more than 2 decades.

Company has played a vital role in developing national infrastructure for capital market development in India. The company has developed & implemented some of the most crucial technological infrastructure in India.

Since December 2022, the company has implemented and managed 19 projects spread across several ministries.

The company's vital role in developing digital infrastructural solutions has led to the achievement of multiple milestones. Key amongst them are

  • Mordernising direct tax infrastructure through the introduction of projects like PAN issuance 
  • The company has enabled the universal social security system for all Indians, in particular for workers in the unorganized sector, by creating technology infrastructure as a CRA for the Atal Pension Yojana.
  • The company has also been instrumental in improving accessibility to education and skill financing through the development of efficient digital marketplaces. This has led to the discovery of financial resources through platforms such as Vidya Lakshmi and Vidyasaarathi
  • The company has contributed to and supported open digital building blocks such as Open Network for Digital Commerce (ONDC) for use-cases across sectors like e-commerce, mobility, healthcare, agriculture, and education. It is worth mentioning that Protean eGov Technologies Limited is one of the key and early contributors to the open-source community and protocols that power ONDC.

Company Promoters

IPO Details

IPO Opening DateNov 06, 2023
IPO Closing DateNov 08, 2023
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹752 - 792 per equity share
Market Lot18 Shares
Min Order Quantity18 Shares
Listing AtBSE, NSE
Issue Size₹490.33 Cr
Fresh Issue-
Offer for Sale₹490.33 Cr
Employee Discount₹Rs 75 per share
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0.01x 1.65x 1.51x - 1.08x
Day 2 0.07x 6.23x 3.90x - 3.22x
Day 3 46.94x 31.62x 8.93x - 23.86x

IPO Tentative Timetable

The Protean eGov Technologies Limited IPO open date is Nov 06, 2023, and the close date is Nov 08, 2023. The issue may list on Nov 17, 2023.

IPO Open DateNov 06, 2023
IPO Close DateNov 08, 2023
Basis of Allotment DateNov 13, 2023
Initiation of RefundsNov 15, 2023
Credit of Shares to Demat AccountNov 16, 2023
IPO Listing DateNov 17, 2023

IPO Lot Size

The Protean eGov Technologies Limited IPO market lot size is 18 shares. A retail-individual investor can apply for up to 14 lots (252 shares or ₹199584).

ApplicationLotsSharesAmount (Cut-off)

Company Financials:

For the year/period ended (₹ in Cr.)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-20 939.88 754.64 121.85
31-Mar-21 121.85 652.03 92.19
31-Mar-22 988.14 770.18 143.94

Objects of the Issue:

The company will not receive any proceeds from the Offer 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 Limited IPO Registrar:

Link Intime India Private Ltd

Protean eGov Technologies Limited IPO Lead Manager(s):

ICICI Securities Limited Equirus Capital Private Limited Iifl Securities Ltd Nomura Financial Advisory And Securities (India) Pvt Ltd

Company Contact Information:

Protean eGov Technologies Limited

Times Tower, 1st Floor,

Kamala Mills Compound, Senapati Bapat Marg,

Lower Parel, Mumbai 400 013,