Protean eGov Technologies IPO vs Updater Services IPO

Comparision between Protean eGov Technologies IPO and Updater Services IPO.

IPO Details

Protean eGov Technologies IPO is a Mainline Book Built Issue IPO proposed to list at BSE while Updater Services IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Protean eGov Technologies IPO	Updater Services IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE	BSE, NSE
Lead Managers	ICICI Securities Limited Equirus Capital Private Limited Iifl Securities Ltd Nomura Financial Advisory And Securities (India) Pvt Ltd	Iifl Securities Ltd Motilal Oswal Investment Advisors Limited SBI Capital Markets Limited
Registrar	Link Intime India Private Ltd	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Protean eGov Technologies IPO is up to ₹490.33 Cr whereas the issue size of the Updater Services IPO is up to ₹640.00 Cr. The final issue price of Protean eGov Technologies IPO is ₹792.00 per share and of Updater Services IPO is ₹300.00 per share.

	Protean eGov Technologies IPO	Updater Services IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹752.00 per share	₹280.00 per share
Issue Price (Upper)	₹792.00 per share	₹300.00 per share
Issue Price (Final)	₹792.00 per share	₹300.00 per share
Discount (Retail)
Discount (Employee)	₹75.00 per share
Market Lot Size	18 shares	50 shares
Fresh Issue Size		1,33,33,333 shares
Fresh Issue Size (Amount)		up to ₹400.00 Cr
OFS Issue Size	61,91,000 shares	80,00,000 shares
OFS Issue Size (Amount)	up to ₹490.33 Cr	up to ₹240.00 Cr
Issue Size Total	61,91,000 shares	2,13,33,333 shares
Issue Size Total (Amount)	up to ₹490.33 Cr	up to ₹640.00 Cr

IPO Timetable

Protean eGov Technologies IPO opens on Nov 06, 2023, while Updater Services IPO opens on Sep 25, 2023. The closing date of Protean eGov Technologies IPO and Updater Services IPO is Nov 08, 2023, and Sep 27, 2023, respectively.

	Protean eGov Technologies IPO	Updater Services IPO
Anchor Bid Date	Nov 03, 2023	Sep 22, 2023
Issue Open	Nov 06, 2023	Sep 25, 2023
Issue Close	Nov 08, 2023	Sep 27, 2023
Basis Of Allotment (Tentative)	Nov 13, 2023	Sep 28, 2023
Initiation of Refunds (Tentative)	Nov 15, 2023	Sep 29, 2023
Credit of Share (Tentative)	Nov 16, 2023	Oct 03, 2023
Listing date (Tentative)	Nov 13, 2023	Oct 04, 2023
Anchor Lockin End date 1	Dec 13, 2023	Oct 28, 2023
Anchor Lockin End date 2	Feb 11, 2024	Dec 27, 2023

Financials

Protean eGov Technologies IPO P/E ratio is 29.91, as compared to Updater Services IPO P/E ratio of 44.31.

Protean eGov Technologies IPO

Updater Services IPO

Financial

Protean eGov Technologies Limited Financial Information (Restated Consolidated)

Protean eGov Technologies Limited's revenue increased by 1.78% and profit after tax (PAT) dropped by -25.63% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Jun 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	1,133.86	1,104.10	988.14	862.39
Revenue	233.17	783.87	770.18	652.03
Profit After Tax	32.21	107.04	143.94	92.19
Net Worth	888.10	856.94	788.00	667.46
Reserves and Surplus	847.48	816.33	747.43	627.14
Total Borrowing
Amount in ₹ Crore

Updater Services IPO Financial Information (Restated Consolidated)
Period Ended	31 Mar 2021	31 Mar 2022	31 Mar 2023
Assets	579.49	874.57	1,216.95
Revenue	1,216.35	1,497.89	2,112.09
Profit After Tax	47.56	57.37	34.61
Net Worth	285.26	340.43	380.89
Reserves and Surplus
Total Borrowing	11.61	58.68	176.54

Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

80.58%

Promoter Shareholding (Post-Issue)

58.47%

P/E Ratio

29.91

44.31

Market Cap

₹3203.38 Cr.

₹2001.00 Cr.

ROE

12.49%%

9.40%%

ROCE

16.13%%

14.17%%

Debt/Equity

0.46

EPS

₹26.48

₹6.77

RoNW

12.49%%

9.34%%

Shares Offered

In the Protean eGov Technologies IPO retail investors (RII) are offered 21,14,350 shares while in Updater Services IPO retail investors are offered 21,14,350 shares. Qualified institutional buyers (QIB) are offered 12,08,200 shares in Protean eGov Technologies IPO and 64,00,000 shares in Updater Services IPO.

	Protean eGov Technologies IPO	Updater Services IPO
Anchor Investor Reserveration	18,12,300 shares	96,00,000 shares
Market Maker Reserveration
QIB	12,08,200 shares	64,00,000 shares
NII	9,06,150 shares	32,00,000 shares
RII	21,14,350 shares	21,33,333 shares
Employee	1,50,000 shares	0 shares
Others
Total	43,78,700 shares	1,17,33,333 shares

Bids Received (Subscription)

Protean eGov Technologies IPO subscribed 23.86x in total, whereas Updater Services IPO subscribed 2.96x.

	Protean eGov Technologies IPO	Updater Services IPO
QIB (times)	46.94x	4.50x
NII (times)	31.62x	0.89x
Big NII (times)	33.14x	1.07x
Small NII (times)	28.58x	0.53x
RII (times)	8.93x	1.45x
Employee (times)	1.49x
Other (times)
Total (times)	23.86x	2.96x

Compare with others

Protean eGov Technologies IPO	Updater Services IPO
ASK Automotive IPO	Mamaearth IPO
ESAF Small Finance Bank IPO	Blue Jet Healthcare IPO
Cello World Limited IPO	Protean eGov Technologies IPO
Mamaearth IPO	IRM Energy IPO
Blue Jet Healthcare IPO	Plaza Wires IPO
IRM Energy IPO	Valiant Laboratories IPO
Plaza Wires IPO	Manoj Vaibhav Gems 'N' Jewellers IPO
Updater Services IPO	JSW Infrastructure IPO
Valiant Laboratories IPO	Sai Silks (Kalamandir) IPO
Manoj Vaibhav Gems 'N' Jewellers IPO	Yatra Online IPO

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