Protean eGov Technologies IPO: Check IPO Details, Date, Price | Espresso

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Protean eGov Technologies Limited IPO opens on November 06. Check IPO Details Issue Date Price

November 03, 2023
Protean eGov Technologies Limited IPO opens on November 06. Check IPO Details Issue Date Price

Protean eGov Technologies Limited is coming out with a fresh public issue to raise Rs. 490 crores from the market.

Below are the details of the Protean eGov Technologies Limited IPO:

  • Issue opens – November 06 (Monday)
  • Issue closes – November 08 (Wednesday)
  • Issue size – Rs. 490 crores
  • Price band – Rs. 752 to Rs. 792 per equity share
  • Bid lot – 18 shares and in multiples thereof.

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And here are some details of the company and further details on the Protean eGov Technologies Limited IPO.

Company details:

  • Protean eGOV Technologies Limited are one of the key IT-enabled solutions companies in India (Source: CRISIL Report) engaged in conceptualizing, developing and executing nationally critical and population scale greenfield technology solutions. They collaborate with the government and have extensive experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions. They were originally setup as a depository in 1995 and created a systemically important national infrastructure for capital market development in India. They have been the chief architect and implementer for some of the most critical and largescale technology infrastructure projects in India. (Source: CRISIL Report).
  • They believe their solutions have led to identification of bottlenecks in government services, increased transparency and efficiency, redefined delivery of public services and led to a reduction in service delivery costs. They were among the leading Indian companies in the e-governance sector in terms of profitability, operating income, operating profit and operating profit margin in Fiscal 2023 (Source: CRISIL Report) They are a professionally managed company and are led by an experienced senior management team whose expertise and industry experience have helped them grow their operations and innovate their services.
  • They have implemented and managed 19 projects spread across seven ministries and autonomous bodies ushering change in public delivery of services. Their primary engagement has been with following ministries:

Ministry of Finance, Ministry of Information & Broadcasting, Ministry of Skill development and entrepreneurship, Ministry of Commerce & Industry, Ministry of Education, Ministry of Electronics & Information technology & Ministry of Communications.

Issue Size:

Rs. 490 crores

Employee Reservation:

Upto 150,000 Equity Shares

Employee Discount:

Rs. 75 per share

Issue break-up:

  • QIB – 50% of the net offer – Rs. 239.00 crores
  • NIB – 15% of the net offer – Rs. 72.00 crores
  • RET – 35% of the net offer – Rs. 167.00 crores

Listing:

BSE and NSE

Registrar:

Link Intime India Pvt Ltd

UPI:

All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

  • Application made using third party UPI or ASBA Bank A/c are liable to be rejected. 
  • The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e. Wednesday, November 08, 2023     

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