PROTEAN eGOV TECHNOLOGIES LIMITED

PROTEAN eGOV TECHNOLOGIES LIMITED- IPO DETAILS 

Company Overview 

Protean eGov Technologies is a prominent IT-enabled solutions company in India, established in 1995. The company specializes in conceiving, developing, and implementing innovative technology solutions for e-governance, with a focus on national significance. It collaborates closely with governmental bodies and possesses extensive experience in crafting digital public infrastructure and citizen-centric services. 

Protean eGov Technologies has established partnerships with seven ministries and autonomous organizations, including the Ministry of Finance, education, electronics and information technology, communications, commerce and industry, skill development and entrepreneurship, and information and broadcasting.  

The company has a track record of successfully executing 19 projects across diverse domains such as tax administration, pension schemes, and digital literacy. Some of its notable projects include TIN, PAN, NPS, and Atal Pension Yojana. As a pioneering entity in its field, the company continues to lead the market in providing universal, citizen-centric, and population-scale e-governance solutions. 

Objective of the IPO 

Here are a few quick reasons why Protean eGov Technologies Limited going public:  

1. The company will not be entitled to any proceeds from the Offer. Instead, all of the Offer Proceeds will be received by the Selling Shareholders, with the distribution based on the proportion of Offered Shares sold by each respective Selling Shareholder as part of the Offer. 

Company Financials 

Key Performance Indicator 

Pros 

1. Protean eGov Technologies has made significant contributions to the establishment of public digital infrastructure and the implementation of e-governance initiatives across various sectors of the Indian economy. Notable projects include the modernization of India's direct tax infrastructure through initiatives like PAN issuance, TIN, and CRA for the NPS. 

2. The company's extensive domain knowledge across multiple industries enables it to develop tailored functionalities that meet the specific requirements of end-users, businesses, and public entities. Clients benefit from the company's delivery model, which combines comprehensive experience across various technologies, industry expertise, project management proficiency, and proprietary software engineering tools. 

3. Protean eGov Technologies holds a prominent position as a pioneer and market leader in the realm of universal, citizen-centric, and population-scale e-governance solutions. It continues to lead in providing e-governance services such as TIN management, PAN processing, NPS, and Atal Pension Yojana. 

4. The company maintains a robust business model with a history of sound financial performance and positive cash flows. As of 2023, it reported an operating cash flow of 137 Crores and has maintained profitability since 1999. Furthermore, it has established a pan-India service delivery network, with 79,374 centers as of June 30, 2023. 

Cons 

1. The company's heavy reliance on government contracts, which account for 72% of its revenue, exposes it to risks associated with the public sector. Government projects can be subject to budget constraints, delays, and changes in policy, potentially impacting the stability of the business. 

2. The technology services industry is marked by rapid and constant technological advancements. Failure to anticipate and adapt to these changes by developing new services or enhancing existing ones could lead to the company losing its competitive edge and market relevance. 

3. Accurately pricing contracts is critical, as underpricing can lead to unprofitable projects. Additionally, if the company underestimates the complexity, duration, or risks associated with contracts, it may face financial challenges and potential losses. 

How to Apply for this IPO 

1. Go to https://ipo.adityatrading.in/ 

2. Enter your Client ID 

3. Enter the OTP received in your registered mobile number. 

4. Choose the IPO and click on apply button. 

5. Enter the UPI ID, Quantity, and Cut off the price. 

6. Click on submit button 

7. Confirm the mandate request received on your phone by entering the UPI Pin. 

You can also watch our youtube video on “How to Apply on IPO” by clicking on the link “https://www.youtube.com/watch?v=1qOI8dCpl1I&ab_channel=ATS”