Stock Market Today: Protean eGov Technologies The share price has fallen by 10% as OFS by NSE Investments for sale of 20.3% stake. floor price of ₹1550 was set for Offer for Sale (OFS) which is significantly lower than the previous day’s closing price. ₹1849.75 for Protean eGov Technologies Share

Shares of Protean eGov Technologies opened at ₹1690.00 at BSE On Friday, it is down more than 8 percent from the previous close. ₹1849.75 for Protean eGov Technologies Share. Protean eGov shares fell after that. ₹In 1666 a decrease of 10 per cent.

NSE Investments Ltd, a non-promoter shareholder of Protean eGov Technologies Ltd, has proposed to sell up to 20.31% stake in Protean eGov Technologies.

Protean offers e-governance services for social security welfare programs like National Pension Scheme (NPS) and Atal Pension Yojana as well as tax-related infrastructure. It also has a subsidiary for account collection business, which is regulated by the Reserve Bank of India (RBI).

OFS Details

According to a release to the exchanges, NSE Investments has proposed to sell up to 41,17,303 equity shares of the company (which is approximately 10.16% of the issued and paid-up equity share capital of Protean eGov), which would have been the primary offer. is size, on November 22, 2024 (“T Day”) for non-retail investors only.

On November 25, 2024 (“T+1 Day”) the Offer will be available to retail investors.

There is also a green show option to sell an additional 10.16% equity stake. Option to sell additional up to 41,17,302 equity shares (representing approximately 10.16% of the issued and paid up equity share capital of the Company) in case of oversubscription and exercise of oversubscription option. is

Multi-bagger returns for investors

The share price of Protean eGov Technologies was flat when it was listed on the stock exchange in November 2023. The list price of the shares and ₹792 had the same price. Protean eGov technologies, however, have since yielded huge returns to investors.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies, and not of Mint. We advise investors to consult certified experts before making any investment decision.