Protean eGov Technologies IPO For Tech-Savvy Investors

Protean eGov Technologies Limited, a company known for its IT-enabled solutions, has opened its doors to the public to own a part of its enterprise through an IPO (initial public offering). 

It’s an invitation to the public to become shareholders. From November 6th to 8th, you can apply for shares in this IPO. The last IPO was from Committed Cargo Care, hope you haven’t missed it.

The company has set a price range of ₹752 to ₹792 per share. To apply, you need to buy at least 18 shares, which means the smallest amount you can invest is Rs 13,536 if you choose the lower price band.

As you know, Grey Market Premium (GMP) is like a hint at how much more the shares might be worth than the price offered in the IPO. For Protean eGov, this premium is said to be between ₹111-120 over the highest price of ₹792 per share.

Once the subscription window closes, the company will decide who gets the shares. This process is called allotment, and it’s likely to happen by November 13. But, if things move quickly and the company follows a T+3 schedule, this could happen even sooner.

After the shares are allotted, they will be listed on the stock exchanges, which is expected to be on or before November 17. This is when the shares can be bought and sold like any other stock in the market.

Protean eGov Technologies works closely with the government to build digital infrastructures and e-governance solutions. Basically, they create technology solutions on a large scale that help in the smooth functioning of various government services for citizens.

In terms of financial health, the company saw a dip in net profit by about 25.6% this year, mainly due to higher costs for employees and lower earnings from other sources. Although their overall revenue increased, their profit margin and returns on equity and capital employed have decreased.

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Please note that the company largely depends on government projects for its business, which means its earnings are tied to the prices set by the government for these services.