Protean eGov Technologies Limited IPO, formerly known as NSDL E-Governance Infrastructure Ltd is set to launch its initial public offer soon. The Protean eGov Technologies IPO key dates, price band and other details pertaining to the offer are yet to be out .
Protean eGov IPO received Securities and Exchange Board of India (SEBI) nod last November.In a notification, Protean eGov Technologies Limited filed draft documents, on which SEBI stated in November 2023 that it had issued observations. In SEBI vocabulary, issuing observations denotes the final approval to launch maiden share sales.
Protean eGov Technologies Limited filed preliminary papers with markets regulator SEBI in December 2021 to raise funds via IPO.
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Also Read: Protean eGov Tech files draft papers for IPO with Sebi
According to the draft red herring prospectus (DRHP), 1.2 crore equity shares will be offered for sale (OFS) as part of the public offering. The OFS is being offered by the following companies: HDFC Bank, Axis Bank, Deutsche Bank A.G., Punjab National Bank, Union Bank of India, Administrator of the Specified Undertaking of the Unit Trust of India, NSE Investments, and IIFL Special Opportunities Funds.
The book running lead managers of the Protean eGov Technologies IPO are ICICI Securities Limited, Equirus Capital Private Limited, Iifl Securities Ltd, and Nomura Financial Advisory And Securities (India) Pvt Ltd. The issue’s registrar is Link Intime India Private Ltd.
Protean eGov IPO shares are proposed to be listed on NSE and BSE.
The company reported a net profit of ₹143.9 crore on revenue of ₹690.9 crore for the fiscal year that ended in 2022, down from the previous year’s net profit of ₹92.1 crore on revenue of ₹603 crore, as per reports.
One of the leading providers of IT-enabled solutions in India, Protean eGov Technologies Limited is responsible for designing, creating, and implementing greenfield technological solutions that are essential to the country’s people.
Protean eGov Technologies Limited works with the government and has a wealth of expertise in building cutting-edge, citizen-centric e-governance solutions and digital public infrastructure.
According to CRISIL sources, Protean eGov Technologies Limited was first established as a depository in 1995 and built a systemically essential national infrastructure for the development of India’s capital market.
There are no listed companies in India that comparable in all aspects of business and services that the company provides, said the DRHP.
Also Read: Protean eGov, Capillary Tech, Campus Activewear file for IPOs
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Updated: 16 Oct 2023, 09:46 AM IST