Protean eGov Technologies Ltd IPO

Protean eGov Technologies Limited was originally incorporated as `National Securities Depository Limited' on December 27, 1995 as a public limited company under the Companies Act, 1956, and was granted the certificate of incorporation by the Registrar of Companies, Maharashtra at Mumbai (RoC). The Company was issued a certificate for commencement of business dated February 8, 1996 by the RoC. Pursuant to the scheme of arrangement between the Company and NSDL Depository Limited under Section 391 to 394 of Companies Act, 1956 (Scheme of Arrangement), the name of the Company was changed from `National Securities Depository Limited' to `NSDL e-Governance Infrastructure Limited' and a fresh certificate of incorporation was issued on December 19, 2012 by the RoC. The name of the Company was changed from `NSDL eGovernance Infrastructure Limited' to `Protean eGov Technologies Limited' pursuant to a shareholders' resolution dated October 28, 2021, to represent the full gamut of products and service offerings of the Company in the space of information technology solutions and extension into new markets, sectors and geographies, and a fresh certificate of incorporation was granted by the RoC on December 8, 2021.

E-governance is the use of ICT to conduct government business and provide public services. The strategic objective of egovernance 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 by technology 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.

Protean eGov Technologies Limited is a key IT-enabled solutions company in India engaged in conceptualizing, developing and executing nationally critical and population scale greenfield technology solutions. The Company partner with the government and has over 25 years of experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions. It is among the leading Indian companies in the e-governance sector in terms of profitability, operating income, operating profit and operating profit margin in Fiscal 2020. The Company has been the chief architect and implementer of various critical and large-scale technology infrastructure projects in India.