The Protean EGov Technologies date has been confirmed from November 6 and ended on November 8
Protean eGov Technologies, founded in 1995, is one of India’s leading IT-enabled solution providers, conceptualizing, creating, and implementing nationally critical and population-scale greenfield technology solutions. The company has played a critical role in constructing national infrastructure for developing India’s financial markets. It has created and deployed some of India’s most critical technology infrastructure.
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Bidding Dates
November 6 – 8
Price Range
₹752 to ₹792 per share
Face Value
₹10 per share
GMP
₹48
Protean EGov Technologies GMP
The Protean EGov Technologies IPO GMP is ₹[48].
IPO Overview
Protean eGov Technologies IPO bidding started from November 6, 2023 and ended on November 8, 2023. The allotment for Protean eGov Technologies IPO was finalized on Monday, November 13, 2023. The shares got listed on BSE on November 13, 2023.
Protean eGov Technologies IPO price band is set at ₹752 to ₹792 per share. The minimum lot size for an application is 18 Shares. The minimum amount of investment required by retail investors is ₹14,256. The minimum lot size investment for sNII is 15 lots (270 shares), amounting to ₹213,840, and for bNII, it is 71 lots (1,278 shares), amounting to ₹1,012,176.
Protean EGov Technologies IPO Date & Price Band Details
| IPO Date | November 6, 2023 to November 8, 2023 |
| Listing Date | November 13, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹752 to ₹792 per share |
| Lot Size | 18 Shares |
| Total Issue Size | 6,191,000 shares (aggregating up to ₹490.33 Cr) |
| Offer for Sale | 6,191,000 shares of ₹10 (aggregating up to ₹490.33 Cr) |
| Employee Discount | Rs 75 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE |
| Share holding pre issue | 40,446,732 |
| Share holding post issue | 40,446,732 |
Protean EGov Technologies IPO Market Lot
Investors can bid for a minimum of 18 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Retail (Min) | 1 | 18 | ₹14,256 |
| Retail (Max) | 14 | 252 | ₹199,584 |
| S-HNI (Min) | 15 | 270 | ₹213,840 |
| S-HNI (Max) | 70 | 1,260 | ₹997,920 |
| B-HNI (Min) | 71 | 1,278 | ₹1,012,176 |
Protean EGov Technologies IPO Allotment & Listing Dates
Protean eGov Technologies IPO opens on November 6, 2023, and closes on November 8, 2023.
| IPO Open Date | Monday, November 6, 2023 |
| IPO Close Date | Wednesday, November 8, 2023 |
| Basis of Allotment | Monday, November 13, 2023 |
| Initiation of Refunds | Wednesday, November 15, 2023 |
| Credit of Shares to Demat | Thursday, November 16, 2023 |
| Listing Date | Monday, November 13, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 8, 2023 |
Protean EGov Technologies Financial Performance
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 716.14 | 603.13 | 690.91 | 510.22 |
| Expenses | 597.02 | 536.03 | 584.55 | 441.06 |
| Net income | 118.07 | 89.33 | 147.56 | 74.78 |
| Margin (%) | 16.49 | 14.81 | 21.38 | 14.66 |
Protean EGov Technologies Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 30.41 | 23.00 | 35.75 |
| PE ratio | – | – | – |
| RONW (%) | 16.17 | 13.81 | – |
| NAV | – | 166.65 | – |
| ROCE (%) | 16.17 | 13.48 | 22.91 |
| ROE (%) | 16.17 | 13.81 | 18.27 |
| EBITDA (%) | 20.63 | 14.07 | 17.92 |
| Debt/Equity | – | – | – |
Company Profile
Established in 1988, Protean EGov Technologies Limited is a renowned auto ancillary company that specializes in the production of Advance Braking Systems (AB) for various types of vehicles. With an impressive market share of approximately 50% for FY2023 in terms of production volume, Protean EGov Technologies serves both original equipment manufacturers (“OEMs”) and the branded independent aftermarket (“IAM”). Notably, Protean EGov Technologies has established itself as the leading 2-wheeler branded independent aftermarket (IAM) in India, in terms of production volume as of FY2023.
The company offers a diverse range of products, including AB systems, aluminium lightweighting precision (“ALP”) solutions, wheel assembly for 2W OEMs, and safety control cables (“SCC”) products. These high-quality offerings are utilized in two and three-wheelers, passenger vehicles, commercial vehicles, as well as non-automotive sectors such as all-terrain vehicles (“ATVs”), power tools, and outdoor equipment.
Registrar Info
| Name | LINK INTIME INDIA PRIVATE LIMITED |
| Phone number | 022 4918 6200 |
| Email ID | protean.ipo@linkintime.co.in |
| Website | https://www.linkintime.co.in |
Contact Details
| Name | PROTEAN eGOV TECHNOLOGIES LIMITED |
| Phone number | +91 22 4090 4242 |
| Email ID | cs@nsdl.co.in |
| Website | https://www.proteantech.in |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
