Standard Chartered Bank Exits Protean eGov Tech For Rs 225 Crore
The bank sold 12.50 lakh shares, representing its full 3.09% stake, at an average price of Rs 1,799.79 per share.
British investment bank Standard Chartered Bank exited its stake in Protean eGov Technologies Ltd. by selling its entire 3.09% holding for Rs 225 crore through an open market transaction on Thursday.
The bank sold 12.50 lakh shares, representing its full 3.09% stake, at an average price of Rs 1,799.79 per share, according to bulk deal data from the BSE.
Details of buyers of Protean eGov Tech's shares could not be ascertained.
On Monday, the company reported a 10.83% decline in its consolidated net sales to Rs 196.54 crore for the quarter-ended June, as compared to Rs 220.41 crore in the corresponding period last year. The company's net profit for the June quarter also saw a significant drop of 34.52% to Rs 21.09 crore.
Protean eGov Technologies (formerly known as NSDL E-Governance Infrastructure) is one of the key IT-enabled solution companies in India engaged in conceptualising, developing, and executing nationally critical and population-scale greenfield technology solutions.
Shares closed 1.19% lower at Rs 1,845.45 apiece, as compared to 0.73% decline in the benchmark BSE Sensex.
(With inputs from PTI)
