In this article you get to know insight about Protean eGov Technologies Limited IPO Details. Incorporated in December 1995, Protean eGov Technologies Limited, formerly known as NSDL e-Governance Infrastructure Limited, has been at the forefront of the digital transformation in India. Over the past two decades, the company has been dedicated to developing citizen-centric and population-scale e-governance solutions, leaving a profound impact on the nation’s technological landscape.
Protean eGov Technologies’ Pivotal Role:
Protean eGov Technologies has played a pivotal role in shaping the digital infrastructure of India, particularly in the realm of capital market development. The company takes pride in its legacy of conceiving and executing critical technological solutions across various sectors. Since December 2022, the company has successfully implemented and managed 19 projects spanning several ministries, demonstrating its unparalleled expertise.
Milestones in Digital Transformation:
The company’s contribution to the digitization of India’s public infrastructure has yielded significant milestones, including:
Modernizing Direct Tax Infrastructure: Protean eGov Technologies has been a driving force behind modernizing the direct tax infrastructure in India. Notable projects like PAN issuance have streamlined and simplified tax-related processes for citizens.
Universal Social Security System: The company has played a key role in establishing a universal social security system that extends its benefits to all Indians, with a particular focus on workers in the unorganized sector. The creation of technological infrastructure as a Central Recordkeeping Agency (CRA) for the Atal Pension Yojana is a testament to its dedication.
Enhancing Education and Skill Financing: Through the development of efficient digital marketplaces, such as Vidya Lakshmi and Vidyasaarathi, Protean eGov Technologies has improved accessibility to education and skill financing. These platforms have also facilitated the discovery of financial resources, benefiting students and learners across the nation.
Contributions to Open Digital Building Blocks: The company has been a driving force behind open digital building blocks like the Open Network for Digital Commerce (ONDC). These open-source solutions have had a far-reaching impact across diverse sectors, including e-commerce, mobility, healthcare, agriculture, and education. It’s worth noting that Protean eGov Technologies is a leading contributor to the open-source community and protocols that empower ONDC.
Protean eGov Technologies Limited IPO Details
|IPO Date||November 6, 2023 to November 8, 2023|
|Face Value||₹10 per share|
|Price||₹752 to ₹792 per share|
|Lot Size||18 Shares|
|Total Issue Size||6,191,000 shares (aggregating up to ₹490.33 Cr)|
|Issue Type||Book Built Issue IPO|
|Share holding pre issue||40,446,732|
|Share holding post issue||40,446,732|
|Market Maker portion|
Protean eGov Technologies Limited IPO Reservation
QIB Shares Offered: QIBs are typically institutional investors such as mutual funds, insurance companies, and foreign institutional investors. In the IPO, not more than 50% of the Net Issue is allocated for QIBs. This allocation ensures that a significant portion of the shares is made available to institutional investors who have the capacity to invest substantial amounts in the IPO.
Retail Shares Offered: Retail investors, which include individual investors, are an important part of the IPO allocation. Not less than 35% of the Net Issue is reserved for retail investors. This allocation aims to provide an opportunity for small investors to participate in the IPO and benefit from the company’s growth.
NII (HNI) Shares Offered: Non-Institutional Investors (NIIs) or High Net Worth Individuals (HNIs) typically consist of investors with a significant net worth. Not less than 15% of the Net Issue is allocated for NIIs/HNIs. This allocation caters to investors who may want to invest a substantial amount in the IPO but do not fall under the QIB category.
Protean eGov Technologies Limited IPO Lot Size
S-HNI (Max) 70 1,260 ₹997,920
B-HNI (Min) 71 1,278 ₹1,012,176
Protean eGov Technologies Limited IPO Tentative Dates
|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||Friday, November 17, 2023|
|Cut-off time for UPI mandate confirmation||5 PM on November 8, 2023|
Protean eGov Technologies Limited IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Website: Link Intime IPO Allotment Services
What is the focus of Protean eGov Technologies Limited’s business operations?
Protean eGov Technologies Limited is focused on developing citizen-centric and population-scale e-governance solutions in India. The company has been instrumental in modernizing various sectors, including direct tax infrastructure, social security systems, education, and open digital building blocks.
What are some of the milestones achieved by Protean eGov Technologies in the field of digital transformation?
Protean eGov Technologies has achieved significant milestones, including modernizing direct tax infrastructure, establishing a universal social security system, enhancing education and skill financing, and contributing to open digital building blocks such as the Open Network for Digital Commerce (ONDC).
What is the IPO date for Protean eGov Technologies Limited?
The Protean eGov Technologies Limited IPO is scheduled to be open for subscription from November 6, 2023, to November 8, 2023.
What is the face value and price range per share in the IPO?
The face value of each share is ₹10, and the price range per share in the IPO is between ₹752 and ₹792.
What is the lot size for retail investors in the Protean eGov Technologies Limited IPO?
Retail investors can apply for a minimum of 1 lot, which consists of 18 shares, and they have the option to apply for a maximum of 14 lots, which would be 252 shares.
When is the tentative basis of allotment, refund initiation, and listing date for the IPO?
The basis of allotment is expected to be announced on Monday, November 13, 2023. Refunds are anticipated to be initiated on Wednesday, November 15, 2023. The listing date is set for Friday, November 17, 2023.