Protean eGov Shares Price: The company has not been shortlisted for the next phase of the PAN 2.0 project RFP selection by the Income Tax Department.
Mumbai: Shares of Protean eGov Technologies cracked 20 per cent to hit a lower circuit on Monday, i.e. on May 19, 2025, after the company informed exchanges that it has not been considered favourably for the next round of RFP (request for proposal) selection process issued by the Income Tax Department inviting bids for PAN 2.0.
The 52-week low of the stock is Rs 930 and the 52-week high is Rs 2,255. The market cap of the IT-enabled service provider is Rs 4,635.87.
On the NSE, the counter started the session at Rs 1,165 against the previous close of Rs 1,428.90. The scrip dipped further to touch the low of Rs 1,143.20.
RFP Issued By Income Tax Department Inviting Bids For PAN 2.0
According to the exchange filing, the Income Tax Department (ITD) issued a notice for request for proposals (RFP) inviting bids for selection of a managed service provider (MSP) for design, development, implementation, operations and maintenance of its PAN 2.0 project. However, the company has not been considered for the next round of the RFP selection process.
Protean eGov Technologies said that the project has a “limited or minimal impact on our ongoing PAN processing and issuance services under the existing mandate with the ITD.”
Earlier, Standard Chartered Bank exited Protean eGov Technologies by selling its entire 3.09 per cent stake for Rs 225 crore through an open market transaction in August, 2024.
According to the bulk deal data available on the BSE, Standard Chartered Bank offloaded 12.50 lakh shares or 3.09 per cent stake in Protean eGov Technologies.
The shares were disposed of at an average price of Rs 1,799.79 apiece, taking the deal value to Rs 224.97 crore.
At the end of the June quarter, London-based Standard Chartered Bank owned a 3.09 per cent stake in Protean eGov Technologies, shareholding data showed with the bourse.
