Protean eGov Technologies announced that NSE Investments, a wholly-owned subsidiary of the National Stock Exchange (NSE), will sell up to 20.32% of its stake in the company through an Offer for Sale (OFS). The offer will be priced at Rs 1,550 per share, with a base issue of 10.16% equity and a green shoe option of an additional 10.16%.
The OFS will open for non-retail investors on November 22 and for retail investors on November 25.
Protean eGov provides e-governance services focused on taxation infrastructure and social security welfare projects, including the National Pension Scheme (NPS) and the Atal Pension Yojana. The company also operates a subsidiary in the account aggregation business, which is regulated by the Reserve Bank of India (RBI).
