Protean Egov IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Protean eGov

CMP

1,136.50

-11.55 (-1.01%)

  • DRHP
₹792

Offer Price

₹ 489.95 Cr

Issue Size

₹ 14,256

Min Investment

23.86x

Times Subscribed

18

Lot size

Time Line

  • 06
    Nov 2023
    Open
  • 08
    Nov 2023
    Close
  • 09
    Nov 2023
    Finalisation of Basis of Allotment
  • 10
    Nov 2023
    Initiation of Refunds
  • 10
    Nov 2023
    Transfer of Shares to Demat Account
  • 13
    Nov 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Diversify its offerings with a focus on new sectors.

  • Building capability around data analytics, digital verification and due diligence.

  • Expanding into newer geographies.

  • Adoption of disruptive technologies and investment in open source solutions, protocol and networks.

Strengths

  • Pioneer and market leader in universal, citizen centric and population scale e-governance solutions.

  • Secure, scalable and advanced technology infrastructure.

  • Large physical infrastructure with pan-India network and scale resulting in inclusion.

  • Diversified, granular and annuity based service offerings.

  • Track record of healthy financial performance.

Risks

  • The company is substantially dependent on projects awarded by government entities and agencies and its relationship with GoI entities exposes it to risks inherent in doing business with them, which may adversely affect its business, results of operations and financial condition.

  • Its may not be able to provide business solutions that meet the company clients` requirements, which could lead to clients discontinuing their work with it, which in turn could harm its business.

  • The company relies on telecommunications and information technology systems, networks and third party infrastructure to operate its business and any interruption or breakdown in such systems, networks or infrastructure of the third parties its relies on or the company technical systems could impair its ability to effectively deliver its products and services.

  • Its business will suffer if the company fail to anticipate and develop new services and enhance existing services in order to keep pace with rapid changes in technology and in the industries on which its focus.

  • If its pricing structures do not accurately anticipate the cost, complexity and duration of its work, then the company contracts could be unprofitable.

Financials

All values in Cr

Mar-2021 Mar-2022 Mar-2023 3-Yr trend
Revenue 603.13 (-15.80%) 690.91 (14.60%) 742.21 (7.40%)
Gross Profit 603.13 (-15.80%) 690.91 (14.60%) 742.21 (7.40%)
Net Income 603.13 (-15.80%) 690.91 (14.60%) 742.21 (7.40%)
Assets 603.13 (-15.80%) 690.91 (14.60%) 742.21 (7.40%)
Liabilities 603.13 (-15.80%) 690.91 (14.60%) 742.21 (7.40%)

Book Running Managers

  • ICICI Securities Ltd
  • Equirus Capital Pvt Ltd
  • IIFL Securities Ltd
  • Nomura Financial Advisory & Securities (I) P Ltd

Registrar & Transfer Agent

Link Intime India Pvt Ltd

C-101 247 Park,
L B S Marg,
Vikhroli West - Mumbai-400083
Phone : 91-22-49186000 Fax: 91-22-49186060

Company Contact Information

Times Tower 1st Flr Kamala Mil,
Senapati Bapat Marg LowerParel,
Mumbai - 400013
Phone : +91 22 4090 4242 Email : cs@proteantech.in www.proteantech.in

Offer Related Information

Initial public offer of 6,191,000 equity shares of face value of Rs. 10 each ("Equity Shares") of Protean eGov Technologies Limited ("Company") for cash at a price of Rs. 792 per equity share ("Offer Price") aggregating to Rs. 489.95 crores (the "Offer") through an offer for sale of 459,617 equity shares by 360 one special opportunities fund (formerly known as iifl special opportunities fund) aggregating to Rs. 36.37 crores, 320,177 equity shares by 360 one special opportunities fund - series... More

News

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