Protean eGov Technologies is into Technology ITES and is looking raise funds through Offer For Sale
Protean eGov Technologies IPO: Protean eGov Technologies Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.
Initial Public Offer comprising of Offer for Sale of Up to 12,080,140 Equity Shares. ICICI Securities, Equirus Capital, IIFL Securities, Nomura Financial have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime (India) Pvt. Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Equity Shares offer-for-sale (OFS) of up to 12,080,140 equity shares by 1,095,288 Equity Shares By IIFL Special Opportunities Fund, Up To 762,998 Equity Shares By IIFL Special Opportunities Fund Series 2, Up To 353,160 Equity Shares By IIFL Special Opportunities Fund Series 3,Up To 945,694 Equity Shares By IIFL Special Opportunities Fund Series 4, Up To 736,899 Equity Shares By IIFL Special Opportunities Fund Series 5, Up To 430,748 Equity Shares By Administrator Of The Specified Undertaking Of The Unit Trust Of India, Up To 3,159,027 Equity Shares By Nse Investments Limited, Up To 788,338 Equity Shares By Hdfc Bank Limited,Up To 1,261,341 Equity Shares By Axis Bank Limited, Up To 1,261,341 Equity Shares By Deutsche Bank A.G., Up To 575,802 Equity Shares By Punjab National Bank, Up To 709,504 Equity Shares By Union Bank Of India...
Objects of the issue:
To Achieve the Listing benefits on the Stock Exchanges..
Promoters of Protean eGov Technologies are The Company is a professionally managed company and does not have any identifiable promoter and holds % stake in the company.
About Company:
Established in 1995, Protean eGov is professionally managed company and is into IT-enabled solutions company that develops citizen-centric and population-scale e-governance solutions for various ministries in India. Key focus areas includes conceptualizing, developing and executing nationally critical and population scale greenfield technology solutions. Company partner with the government and have over 25 years of experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions.
Company is instrumental in establishing public digital infrastructure and creating e-governance interventions impacting multiple sectors of the Indian economy.
About Industry:
E-governance is the use of ICT to conduct government business and provide public services. The strategic objective of e-governance is to support and simplify governance for all parties: government, citizens and businesses. CRISIL Research expects domestic IT services' revenue to log a compounded annual growth rate of 6% -8%. The growth will be led bytechnology and platform upgradation, and e-governance initiatives of the central and state governments. E-governance aims to make interactions between government and citizens, government and business enterprises, and inter-agency relationships more friendly, convenient, transparent, and economical. (Source: CRISIL Report)
Source: SEBI, BSE, NSE, DRHP, Protean eGov Technologies, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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