Bookbuilding IPO | ₹490 Cr | Listed at BSE | Mon, Nov 6, 2023 - Wed, Nov 8, 2023
Protean eGov Technologies IPO is a book build issue of ₹489.95 crores. The issue is entirely an offer for sale of 0.62 crore shares of ₹489.95 crore.
Protean eGov Technologies IPO bidding started from Nov 6, 2023 and ended on Nov 8, 2023. The allotment for Protean eGov Technologies IPO was finalized on Nov 13, 2023. The shares got listed on BSE on Nov 13, 2023.
Protean eGov Technologies IPO price band is set at ₹792 per share. The lot size for an application is 18. The minimum amount of investment required by an retail is ₹14,256 (18 shares) (based on upper price). The lot size investment for sNII is 15 lots (270 shares), amounting to ₹2,13,840, and for bNII, it is 71 lots (1,278 shares), amounting to ₹10,12,176.
The issue includes a reservation of up to 1,50,000 shares for employees offered at a discount of ₹75.00 to the issue price.
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Protean eGov Technologies IPO RHP for detailed Information.
IPO Open
Mon, Nov 6, 2023
IPO Close
Wed, Nov 8, 2023
Issue Price
₹792 per share
Market Cap (Pre-IPO)
₹3,203.38 Cr
| IPO Date | 6 to 8 Nov, 2023 |
| Listed on | Mon, Nov 13, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹752 to ₹792 |
| Issue Price | ₹792 per share |
| Lot Size | 18 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE |
| Employee Discount | ₹75.00 |
| Total Issue Size | 61,91,000 shares (agg. up to ₹490 Cr) |
| Offer for Sale | 61,91,000 shares of ₹10 (agg. up to ₹490 Cr) |
| Share Holding Post Issue | 4,04,46,732 shares |
| BSE Script Code | 544021 PROTEAN |
| ISIN | INE004A01022 |
Protean eGov Technologies IPO offers total 61,91,000 shares. Out of which 30,20,500 (48.79%) allocated to QIB, 12,08,200 (19.52%) allocated to QIB (Ex- Anchor), 9,06,150 (14.64%) allocated to NII 21,14,350 (34.15%) allocated to RII and 18,12,300 (29.27%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 30,20,500 (48.79%) | NA |
| − Anchor Investor Shares Offered | 18,12,300 (29.27%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 12,08,200 (19.52%) | NA |
| NII (HNI) Shares Offered | 9,06,150 (14.64%) | NA |
| − bNII > ₹10L | 6,04,100 (9.76%) | 2,237 |
| − sNII < ₹10L | 3,02,050 (4.88%) | 1,118 |
| Retail Shares Offered | 21,14,350 (34.15%) | 1,17,463 |
| Employee Shares Offered | 1,50,000 (2.42%) | NA |
| Total Shares Offered | 61,91,000 (100.00%) |
Investors can bid for a minimum of 18 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 18 | ₹14,256 |
| Retail (Max) | 14 | 252 | ₹1,99,584 |
| S-HNI (Min) | 15 | 270 | ₹2,13,840 |
| S-HNI (Max) | 70 | 1,260 | ₹9,97,920 |
| B-HNI (Min) | 71 | 1,278 | ₹10,12,176 |
Protean eGov Technologies IPO raises ₹143.53 crore from anchor investors. Protean eGov Technologies IPO Anchor bid date is November 3, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Nov 3, 2023 |
| Shares Offered | 18,12,300 |
| Anchor Portion (₹ Cr.) | 143.53 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Dec 13, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Feb 11, 2024 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in December 1995, Protean eGov Technologies Limited provides IT services. The Company offers citizen services, e-governance solutions, system integration, business process re-engineering, data centre co-location, and IT consulting services for citizens, corporations and the Government.
The key projects that Protean eGov Technologies Limited has executed or is involved in are Tax Information Network (TIN), PAN services, Central Recordkeeping Agency (CRA) - National Pension System (NPS), Atal Pension Yojana (APY), Unique Identification (UID/Aadhaar) - Registrar, Goods and Services Tax( GST), Aadhaar Authentication & e-KYC Services, and more.
Since December 2022, the company has implemented and managed 19 projects spread across several ministries. The company have a pan-India physical network of over 167,000 centres, which includes over 79,000 PAN and TIN facilitation centres and over 88,000 points of presence, as of June 30, 2023.
The company's vital role in developing digital infrastructural solutions has led to the achievement of multiple milestones. Among them is Modernizing direct tax infrastructure by introducing projects like PAN issuance. The company has enabled the universal social security system for all Indians, particularly for unorganised workers, 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 by developing 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.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 1,133.86 | 1,104.10 | 988.14 | 862.39 |
| Total Income | 233.17 | 783.87 | 770.18 | 652.03 |
| Profit After Tax | 32.21 | 107.04 | 143.94 | 92.19 |
| NET Worth | 888.10 | 856.94 | 788.00 | 667.46 |
| Reserves and Surplus | 847.48 | 816.33 | 747.43 | 627.14 |
| Amount in ₹ Crore | ||||
| KPI | |
|---|---|
| ROE | 12.49% |
| ROCE | 16.13% |
| RoNW | 12.49% |
| PAT Margin | 14.42% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 26.48 | |
| P/E (x) | 29.91 | 24.86 |
| Market Cap | ₹3,203.38 Cr. |
The Protean eGov Technologies IPO is subscribed 23.86 times on November 8, 2023 7:02:00 PM (Day 3). The public issue subscribed 8.93 times in the retail category, 46.94 times in the QIB category, and 31.62 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 46.94 | 12,08,200 | 5,67,09,342 |
| NII | 31.62 | 9,06,150 | 2,86,53,840 |
| bNII (bids above ₹10L) | 33.14 | 6,04,100 | 2,00,20,662 |
| sNII (bids below ₹10L) | 28.58 | 3,02,050 | 86,33,178 |
| Retail | 8.93 | 21,14,350 | 1,88,78,454 |
| Employee | 1.49 | 1,50,000 | 2,23,614 |
| Total | 23.86 | 43,78,700 | 10,44,65,250 |
Total Application : 8,90,571
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Managers fees and commissions (including any underwriting commission, brokerage and selling commission) | 13.02 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs(2)(3)(4)(5) | 4.32 |
| 3 | Fees payable to the Registrar to the Offer | 0.24 |
| 4 | Fees payable to other parties, including but not limited to Statutory Auditors, Independent Chartered Accountant and industry expert | 4.84 |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 1.81 |
| 6 | Printing and stationery | 1.54 |
| 7 | Advertising and marketing expenses | 8.50 |
| 8 | Fees payable to legal counsels | 7.65 |
| 9 | Miscellaneous | 3.64 |
| Price Details | BSE |
|---|---|
| Final Issue Price | ₹792.00 |
| Open | ₹792.00 |
| Low | ₹775.00 |
| High | ₹890.90 |
| Last Trade | ₹883.00 |
Protean eGov Technologies IPO is a main-board IPO of 61,91,000 equity shares of the face value of ₹10 aggregating up to ₹490 Crores. The issue is priced at ₹792 per share. The minimum order quantity is 18.
The IPO opens on Mon, Nov 6, 2023, and closes on Wed, Nov 8, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE.
Zerodha customers can apply online in Protean eGov Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Protean eGov Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Protean eGov Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Protean eGov Technologies IPO opens on Mon, Nov 6, 2023 and closes on Wed, Nov 8, 2023.
Protean eGov Technologies IPO lot size is 18, and the minimum amount required for application is ₹14,256.
You can apply in Protean eGov Technologies IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Protean eGov Technologies IPO will be done on Monday, November 13, 2023, and the allotted shares will be credited to your demat account by Thu, Nov 16, 2023. Check the Protean eGov Technologies IPO allotment status.
The Protean eGov Technologies IPO listing date is on Mon, Nov 13, 2023.
