Protean eGov Technologies Limited to file DRHP for IPO

Protean eGov Technologies Limited formerly known as NSDL e-Governance Infrastructure is set to raise funds for which it will file draft red herring prospectus DRHP on Friday evening. Incorporated in the year 1995 as a depository NSDL e-Gov IPO will be completely an offer for sale.

The issue size of the NSDL e-Gov IPO is expected to be Rs 1300 – Rs 1400 Cr valuing the company around Rs 4500-5000 Cr. The IPO will be entirely an offer for sale and no fresh funds will be raised from the issue, the media reported.

NSDL e-Gov works with different Government agencies for designing and implementing e-Governance Projects.

Company Vision

To be a globally trusted provider of digital technology solutions that promotes ease of living.
The Company delivers scalable digital platforms that are reliable, private, and secure.
NSDL e-Governance Infra is backed and supported by many institutions and banks.

  1. Axis bank
  2. Bank of Baroda
  3. Citicorp Finance
  4. Canara Bank
  5. Deutsche Bank AG
  6. HDFC Bank
  7. HSBC
  8. State Bank Of India
  9. Standard Chartered
  10. NSE Investments

NSDL e-Governance IPO Details:

IPO DETAILS NSDL
Issue Period Opening Date: 2022
Closing Date: 2022
Price Band To Be Announced
Issue Size Rs.1300-1400 Crores
Face Value To Be Announced
QII To Be Announced
NII To Be Announced
RII To Be Announced
Listing NSE and BSE
Registrar To Be Announced

For the financial year till March 31, 2021, the company’s total income declined to almost 14% to Rs 650 Cr whereas the profit declined 24% to Rs 92 Cr.
As per the media reports, the company is eyeing the valuations of 54 times the P/E ratio of Fiscal Year 2021. The company has not listed peers yet in the exchange (NSE and BSE).

BOOK RUNNING LEAD MANAGERS

  • ICICI Securities
  • Equirus Capital
  • IIFL Securities
  • Nomura Financial Advisory and Securities (India) 

Let’s have a look at a few milestones of NSDL e-Governance Infra / Protean eGov Tech: 

  • Incorporated in December 1995.
  • Established as a Depository system in November 1996.
  • Launch of Tax Information Network (TIN) in 2004.
  • Launch of PAN Card services in June 2004.
  • Launch of online tax accounting system in June 2004.
  • Launch of online upload of Central Excise challan data in Jan 2005.
  • Launch of Tax Information Network in July 2005.
  • Launch of Central Recordkeeping Agency for National Pension system in August 2008.
  • Appointed as Registrar for UIDAI in Feb 2011.
  • Selected by Government Of India for GST Pilot Project.
  • NSDL Demerges in Jan 2013 to a separate company.
  • Launch of e-KYC services in Jan 2013.
  • Implementation of National Judicial Reference System (NJRS) on behalf of Income Tax Department in Jan 2014.
  • Hosting services to Election Commission for Candidates Affidavits in Jan 2014.
  • In the year 2015, the company launched Vidya Lakshmi, an online platform for applying for education loans under the guidance of the Department of Financial Services, Ministry of Finance, and other official departments.
  • Empaneled by Controller of Certifying Authorities (CCA) to provide e-Sign services in Nov 2016.
  • Received Golden Peacock Award For Innovation Management.
  • The company received India’s Best Company of the Year 2021 in India’s Best IT Enabled Service Company Category by Berkshire Media LLC, USA in the year 2021.
  • Recently in Sept 2021, it received Best IT Company In Western Region at Business Leaders Summit & Awards 2021 by Worldwide Achievers Private Ltd.

COMPANY Contact Details: 

Protean eGov Technologies Limited
(Formerly known as NSDL e-Governance Infrastructure Limited)

Mumbai
Address – Times Tower,
1st Floor, Kamala Mills Compound,
Lower Parel, Mumbai – 400 013.
Tel – (022) 4090 4242, Fax – (022) 2491 5217

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