Protean eGov Technologies' IPO is about to start trading: Here are the essential details

 Protean eGov Technologies' IPO is about to start trading: Here are the essential details

The initial public offering of Protean eGov Technologies Limited, previously known as NSDL E-Governance Infrastructure Ltd, is about to begin. The key dates, price range, and other information about the Protean eGov Technologies IPO have not yet been released. 

The Securities and Exchange Board of India (SEBI) approved the Protean eGov IPO in November.Protean eGov Technologies Limited submitted draft papers in a notice, and SEBI indicated in November 2023 that it had made remarks on such documents. Issuing observations, as used in SEBI terminology, means that the first share transaction has received final clearance.

In order to raise money via an IPO, Protean eGov Technologies Limited submitted preliminary paperwork with the markets regulator SEBI in December 2021.

A total of 1.2 crore equity shares would be offered for sale (OFS) as part of the public offering, according to the draft red herring prospectus (DRHP). Following organizations are presenting the OFS: HDFC Bank, Axis Bank, Deutsche Bank AG, Punjab National Bank, Union Bank of India, Administrator of the Regulated Undertaking of the Unit Trust of India, NSE Investments, and IIFL Special Opportun Funds.

ICICI Securities Limited, Equirus Securities Private Limited, Iifl Securities Ltd, and Nomura Financial Advisory And Securities (India) Pvt Ltd are the book running lead managers for the Protean eGov Technologies IPO. Link Intime India Private Ltd. is the registrar of the issuance.

Shares of the Protean eGov IPO are expected to list on the NSE and BSE. 

In contrast to the prior year's net profit of 92.1 crore on sales of 603 crore, the firm recorded a net profit of 143.9 crore on revenue of 690.9 crore for the fiscal year that ended in 2022. 

Protean eGov Technologies Limited, one of India's top suppliers of IT-enabled solutions, is in charge of developing and implementing new technical innovations that are vital to the citizens of that nation.

With a lot of experience developing cutting-edge, citizen-centric e-governance solutions and digital public infrastructure, Protean eGov Technologies Limited collaborates with the government.

Protean eGov Technologies Limited was initially created as a depository in 1995, according to CRISIL sources, and constructed a systemically crucial national infrastructure for the growth of India's capital market.

According to the DRHP, there are no listed firms in India that are similar to the company in all business and service-related characteristics.