Protean eGov Technologies Limited IPO
Protean eGov Technologies Limited IPO
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Protean eGov Technologies Limited's has transitioned to a publicly listed entity following its IPO debut on 13-11-2023 at the NSE, BSE exchange. The public offering successfully raised 61,91,000 Shares, consisting of TBDin new capital and ₹490.33 Cr in existing shareholder sales.
The IPO featured a competitive price range of ₹752 to ₹792 and minimum application size of 18 shares. Market reception was evidenced through subscription activity between 06-11-2023 and 08-11-2023, reflecting investor appetite for the offering.
Allotment of shares was completed on 10-11-2023, distributing equity to successful applicants. The listing marked the beginning of the company's journey as a publicly traded corporation, subject to market dynamics and regulatory oversight.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Protean eGov IPO About Company
Incorporated in 1995, Protean eGov Technologies Limited (formerly NSDL e-Governance Infrastructure Limited) is a leading technology company that has been developing large-scale, citizen-centric e-governance solutions for over two decades. The company has played a key role in building critical digital infrastructure in India, especially in the capital markets. As of December 2022, it has implemented and managed 19 projects across various ministries. Protean has achieved major milestones such as modernizing the country’s direct tax systems through PAN issuance, enabling social security for unorganized sector workers through its role as CRA for Atal Pension Yojana, improving access to education and skill financing through platforms like Vidya Lakshmi and Vidyasaarathi, and contributing to open digital ecosystems such as ONDC across multiple sectors like e-commerce, mobility, healthcare, agriculture, and education.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Protean eGov IPO Strength Factors
NA
Protean eGov IPO Risk Factors
NA
Protean eGov IPO Lead Manager(s)
- ICICI Securities Limited
- Equirus Capital Private Limited
- IIFL Securities Limited
Protean eGov IPO Promoter(s)
NA
Protean eGov IPO FAQs
Protean eGov Technologies Limited IPO subscribed 25.13 times. The public issue subscribed 9.4 times in the retail category,49.43times in QIB, and 34.9 times in the HNI (10+) category byNovember 5, 2025 8:23:33 AM (Day 5).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Protean eGov IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Protean eGov IPO FAQs
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The basis of allotment for Protean eGov Technologies Limited IPO is available now.
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If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on or send an email with all relevant details to .