Standard Chartered Bank likely to sell entire 3.09% stake in Protean eGov Technologies via block deals

This transaction is categorized as a clean-out trade, indicating that Standard Chartered Bank aims to completely exit its holding in Protean eGov Technologies.

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26 Aug, 2025 12:21

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Standard Chartered Bank is likely to sell its 3.09 percent equity in IT-enabled solutions company Protean eGov Technologies through block deals, CNBC-TV18 reported citing sources.

The sale is expected to take place on August 8, with the share price expected to range between Rs 1,750 and Rs 1,775.

According to the report, the total offer size is expected to reach Rs 221.9 crore at the upper end of the price range.

This transaction is categorized as a clean-out trade, indicating that Standard Chartered Bank aims to completely exit its holding in Protean eGov Technologies.

Protean eGov Technologies reports decline in profit for June 2024

Protean eGov Technologies has announced a decline in both net sales and quarterly net profit for the period ending June 30, 2024. The company's net sales fell to Rs 196.54 crore, a decrease of 10.83 percent from Rs 220.41 crore recorded in June 2023.

Protean's quarterly net profit stood at Rs 21.09 crore for June 2024, a decline of 34.52 percent compared to Rs 32.21 crore in the same period last year.

About Protean eGov Technologies

IT-enabled solutions company Protean eGov Technologies, which is earlier known as NSDL e-Governance Infrastructure, collaborates with the government and creates digital public infrastructure and develops citizen-centric e-governance solutions.

It has developed and implemented 19 projects across seven ministries across India including modernising the direct tax infrastructure (through projects like Permanent Account Number (PAN) issuance, the Tax Information Network), strengthening the old age security system (under National Pension System-NPS), and enabling the universal social security system for all Indians (under Atal Pension Yojana).

Protean eGov Technologies, the citizen-centric & population scale e-governance solutions developer, launched its initial public offering in November 2023.

On August 7, shares of Protean eGov Technologies ended 7.67 percent higher (or Rs 133) at Rs 1,867.60 on the BSE.