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PROTEAN EGOV TECHNOLOGIES LTD

IPO Details

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18 Shares
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₹ 752 – 792
₹ Up to 490.33 Cr

Issue timeline

  • -
  • 13-Nov-2023
  • 15-Nov-2023
  • 16-Nov-2023
  • 17-Nov-2023

Subscription Status

Shareholder -
Qualified Institutional Buyers -
Non-Institutional Investor -
Retail Individual Investor -
Employee -
Total -

About Company

- One of the key IT-enabled solution companies in India engaged in conceptualizing, developing and executing nationally critical and population scale greenfield technology solutions.(Source: CRISIL Report)
- Among the leading Indian companies in the e-governance sector in terms of profitability, operating income, operating profit and operating profit margin in Fiscal 2020 (Source: CRISIL Report)
- Formerly known as NSDL eGovernance Infrastructure Ltd. Since inception, they have implemented and managed 18 projects spread across seven ministries and autonomous bodies ushering change in public delivery of services.

Strengths & Risks

Strengths (3)

Pioneer and market leader in universal, citizen centric and population scale e-governance solutions
The company has demonstrable experience in implementing and managing population scale critical solutions, and since inception and as of June 30, 2021, they have developed and implemented 18 projects across seven ministries across India. They continue to be a market leader in provision of e-governance services such as management of the TIN, PAN processing, NPS and Atal Pension Yojana. They are amongst the few private players in India in e-governance space working towards the achievement of Digital India initiative(Source: CRISIL Report; Company DRHP)

Risks (2)

Failing to maintain and enhance their brand would impact their ability to expand business.
If they do not continue to establish, maintain and strengthen their brand, they may lose the opportunity to offer their e-governance and other solutions. If they do not develop and maintain a strong brand, their business, prospects, financial condition and operating results will be materially and adversely impacted.(Source: Company DRHP)

  • Pioneer and market leader in universal, citizen centric and population scale e-governance solutions
    The company has demonstrable experience in implementing and managing population scale critical solutions, and since inception and as of June 30, 2021, they have developed and implemented 18 projects across seven ministries across India. They continue to be a market leader in provision of e-governance services such as management of the TIN, PAN processing, NPS and Atal Pension Yojana. They are amongst the few private players in India in e-governance space working towards the achievement of Digital India initiative(Source: CRISIL Report; Company DRHP)

  • Secure, scalable and advanced technology infrastructure
    They have made investments in technology platforms that in their experience have strengthened competitive advantage, increased operating leverage, ensured scalability and improved functionality while driving innovation. These investments have also helped them to provide their clients and other stakeholders with bespoke services.(Source: Company DRHP)

  • Large physical infrastructure with pan-India network and scale resulting in inclusion
    They have developed a pan-India service delivery network across India for various public and other services provided by them. Their service network has grown over the years and grew from 17,622 centres, as of March 31, 2019 to 32,978 centres, as of March 31, 2021 and they operated 36,176 centres, as of June 30, 2021.(Source: Company DRHP)

  • Failing to maintain and enhance their brand would impact their ability to expand business.
    If they do not continue to establish, maintain and strengthen their brand, they may lose the opportunity to offer their e-governance and other solutions. If they do not develop and maintain a strong brand, their business, prospects, financial condition and operating results will be materially and adversely impacted.(Source: Company DRHP)

  • They may not meet the selection criteria set for high value contracts by the Government
    Selection as service provider for large government projects is undertaken through a tender process, and many of the bids in which they participate are subject to the satisfaction of certain eligibility conditions and performance standards. In Fiscal 2021, they bid for eight tenders and they were not awarded any contracts. While they have satisfied pre-qualification criteria to bid for such projects in the past, there can be no assurance that they will be able to meet such criteria to bid for these and other similar projects in the future. (Source: Company DRHP)

Financials

Net Worth
Total Income
Profit after tax
Earings Per Share

Industry Overview

Total PAN card allotment has gone up 3 times in the last eight Fiscals : Increase in the number of PAN allotments is a reflection of the efforts made by the government to widen the taxpayer base. Increasing emphasis on financial inclusion in the country, widening the usage of PAN cards, expanding the formal economy and overall GDP growth in the nation have led to expansion of the taxpayer base, which, in turn, has increased the number of PAN card allotments in the last decade (Source: Company DRHP)

 

India’s large young population expected to expand the taxpayer base :  Over 60% of India’s population is the working age bracket of 15-59 years and this bracket is expected to grow to above 60% in the next decade. According to UN World Population Prospects, in 2020, approximately 879 million people were in the working age range and the number is expected to cross 930 million by 2025 adding more individuals to the taxpayer base (Source: Company DRHP)

vishal-mega-mart IPO

Protean eGov technologies Ltd

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18 Shares

Subscription Status

Shareholder -
Qualified Institutional Buyers -
Non-Institutional Investor -
Retail Individual Investor -
Employee -
Total -

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*The financials mentioned above are sourced from DRHP/ RHP documents.

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