Shares of LTIMindtree Ltd remained in focus on Monday after reports suggested the IT firm is the frontrunner to bag the ambitious ₹1,435 crore PAN 2.0 project from the Income Tax Department. The stock closed marginally higher at ₹5,071, up 0.041% from its previous close of ₹5,068.90.
The PAN 2.0 initiative involves complete overhaul and digitization of the PAN system, including design, development, implementation, operations, and maintenance of a unified platform. The project is aimed at making PAN a common business identifier across all specified digital government systems, boosting ease of compliance and streamlining services.
Protean, a major current service provider, is also in contention but reports indicate LTIMindtree may have the edge in the bid evaluation process.
According to the Request for Proposals (RFP) issued by the ITD, the Managed Service Provider will be responsible for creating a single digital portal enabling paperless operations, efficient grievance redressal, and seamless PAN services.
The outcome of this ₹1,435 crore bid could prove pivotal for LTIMindtree’s public sector vertical and digital transformation credentials. The market will be closely watching further developments in this regard.
