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IPO Reservation

As per the document filed with the Securities and Exchange Board of India (SEBI), the company has reserved a significant portion of the net issue for different types of investors. Specifically, up to 50% of the net issue is reserved for qualified institutional buyers (QIB), up to 35% for retail investors, and the remaining 15% for non-institutional investors (NII). Additionally, the company has allocated 1.5 lakh equity shares for employees at a discounted price of Ôé╣75 per share relative to the final offer price.

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Financial Performance

According to the company’s financial reports, for the quarter ended June 30, 2023, the company recorded a profit after tax (PAT) of Ôé╣32.21 crore and a revenue of Ôé╣233.17 crore. However, for the financial year ending on March 31, 2023, Protean’s PAT declined by 25.6% to Ôé╣107.04 crore compared to Ôé╣143.94 crore in the previous fiscal year. Notwithstanding the decrease in PAT, the company experienced a marginal increase of 1.8% in revenue, reaching Ôé╣783.87 crore from Ôé╣770.18 crore in the previous fiscal year.

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IPO GMP

In the grey market, Protean shares are currently being traded at a premium of Ôé╣120 per equity share. With the stock’s price band set at Ôé╣792, it is expected to list at Ôé╣912, which factors in the current grey market premium. This projected listing price represents a potential premium of 15.15% over the issue price.

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About Protean eGov Technologies

Established in December 1995, Protean eGov Technologies specializes in developing citizen-centric and population-scale e-governance solutions. Over the years, the company has successfully completed 19 projects across seven ministries in India. It has emerged as a market leader in providing e-governance services such as PAN (Permanent Account Number) processing, NPS (National Pension System), TIN (e Tax Information Network), and Atal Pension Yojana.

Protean eGov Technologies relies heavily on revenues generated from taxation, CRA pension, and ID services, accounting for approximately 95% of its total revenues. Tax services, in particular, contribute the largest share, representing around 58% in FY23.

The AI legalese decoder can assist in deciphering the complex nature of Protean eGov Technologies’ business operations, allowing investors to gain a comprehensive understanding of the company’s core offerings and revenue streams.

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organizations, but not necessarily those of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before making any investment decisions.)

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