Protean eGov IPO GMP, Review, Price, Allotment

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Last updated on November 16, 2023

Protean eGov IPO GMP

Protean eGov IPO description – Incorporated in 1995, Protean eGov Technologies is one of the key IT-enabled solutions companies in India engaged in conceptualizing, developing, and executing nationally critical and population-scale greenfield technology solutions. The company has played a vital role in developing national infrastructure for capital market development in India. It has developed & implemented some of the most crucial technological infrastructure in India.

Since 30 June 2023, Protean eGov Technologies has implemented and managed 19 projects spread across seven ministries and autonomous bodies ushering change in the public delivery of services. Some of the projects handled by the company include PAN issuance, TIN, OLTAS, CRA for the National Pension System (NPS), and Atal Pension Yojana (APY), among others.

The company has been profitable since FY 1999 and has consistently declared and paid dividends since FY 2001.

Protean eGov Technologies IPO 2023

Protean eGov IPO Details

Protean eGov IPO Dates6 – 8 November 2023
Protean eGov IPO PriceINR 752 – 792 per share
Fresh issueNil
Offer For Sale6,191,000 shares (INR 465.56 – 490.33 crore)
Total IPO size6,191,000 shares (INR 465.56 – 490.33 crore)
Minimum bid (lot size)18 shares (INR 14,256)
Face Value INR 10 per share
Retail Allocation35%
Listing OnBSE

Protean eGov Financial Performance

 FY 2021FY 2022FY 2023Q1 FY 2024
Revenue603.13690.91742.21220.40
Expenses536.03584.55643.45191.44
Net income89.33147.56106.2127.78
Margin (%)14.8121.3814.3112.60
Figures in INR Crores unless specified otherwise

Protean eGov Offer News


Protean eGov Valuations & Margins

FY 2021FY 2022FY 2023
EPS23.0035.7526.48
PE ratio28.4 – 29.91
RONW (%)13.8118.2712.49
NAV166.29195.13212.0
ROCE (%)16.9322.9116.13
ROE (%)13.8118.2712.49
EBITDA (%)22.1729.4021.51
Debt/Equity
*Compiled by IPO Central from Prospectus

Protean eGov IPO GMP Today

DateDay-wise IPO GMPKostakSubject to Sauda
10 November 2023802001,000
9 November 2023802001,000
8 November 20231002001,000
7 November 20231102001,000
6 November 2023150
4 November 2023110
3 November 2023120
2 November 2023120

Protean eGov IPO Subscription – Live Updates

CategoryQIBNIIRetailEmployeeTotal
Shares Offered12,08,2009,06,15021,14,3501,50,00043,78,700
8 Nov 202346.9431.628.921.4923.86
7 Nov 20230.076.243.920.773.23
6 Nov 20230.011.651.500.311.08

Protean eGov IPO Reviews – Subscribe or Avoid?

Angel One –
Ajconglobal – Subscribe
Anand Rathi – Subscribe
Antique Stock Broking –
Arihant Capital –
Ashika Research –
Asit C Mehta – Subscribe
BP Wealth – Subscribe
Canara Bank Securities – Subscribe for long term and listing gains
Choice Broking – Subscribe
Dalal & Broacha –
Elite Wealth –
Geojit –
GEPL Capital – Subscribe
Hem Securities – Subscribe
ICICIdirect –
Investmentz – Subscribe
Jainam Broking –
KR Choksey –
LKP Research –
Marwadi Financial –
Motilal Oswal –
Nirmal Bang –
Reliance Securities – Subscribe
Religare Broking –
Samco Securities – Subscribe
SBI Securities – Subscribe for long term
SMC Global – 2/5
Sushil Finance – Subscribe for long term
Swastika Investmart – Subscribe
Systematix – Not Rated
Ventura Securities – Not Rated


Protean eGov IPO Allotment Status

Protean eGov IPO allotment status is now available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.


Protean eGov IPO Dates & Listing Performance

IPO Opening Date6 November 2023
IPO Closing Date8 November 2023
Finalisation of Basis of Allotment10 November 2023
Initiation of refunds10 November 2023
Transfer of shares to demat accounts13 November 2023
Protean eGov IPO Listing Date13 November 2023
Opening Price on BSE SMEINR 792 per share (no change)
Closing Price on BSE SMEINR 883 per share (up 11.49%)

Protean eGov Offer Lead Manager

IIFL SECURITIES LIMITED
10th Floor, IIFL Centre, Kamala City,
Senapati Bapat Marg, Lower Parel (West),
Mumbai 400 013, Maharashtra
Phone: +91 22 4646 4728
Email[email protected]
Website: www.iiflcap.com


Protean eGov Offer Registrar

LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Telephone: 022 4918 6200
Email: [email protected]
Website: www.linkintime.co.in


Protean eGov Contact Details

PROTEAN eGOV TECHNOLOGIES LIMITED
Times Tower, 1st Floor, Kamala Mills Compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013, Maharashtra
Phone: +91 22 4090 4242
E-mail: [email protected]
Website: www.proteantech.in


Protean eGov IPO FAQs

How many shares in Protean eGov IPO are reserved for HNIs and retail investors?

The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.

How to apply in Protean eGov Public Offer?

The best way to apply in Protean eGov public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.

What is Protean eGov IPO GMP today?

Protean eGov IPO GMP today is INR 80 per share.

What is the Protean eGov kostak rate today?

Protean eGov kostak rate today is INR 200 per application.

What is Protean eGov Subject to Sauda rate today?

Protean eGov Subject to Sauda rate today is INR 1,000 per application.

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