Protean e-Gov Tech.
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Aug 17 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
GETS ORDER WORTH 59.9 MILLION RUPEES
Source text:
Further company coverage: PROO.NS
(([email protected];))
Aug 17 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
GETS ORDER WORTH 59.9 MILLION RUPEES
Source text:
Further company coverage: PROO.NS
(([email protected];))
** Shares of Protean eGov Technologies PROO.NS fall 6% to 584.4 rupees, their sharpest fall since March 30
** IT firm's Q1 PAT sinks 75% Y/Y; rev up 19%
** Co says profit hurt by upfront investments in new government mandates and higher procurement costs
** Stock down 22.6% YTD
(Reporting by Aleef Jahan in Bengaluru)
** Shares of Protean eGov Technologies PROO.NS fall 6% to 584.4 rupees, their sharpest fall since March 30
** IT firm's Q1 PAT sinks 75% Y/Y; rev up 19%
** Co says profit hurt by upfront investments in new government mandates and higher procurement costs
** Stock down 22.6% YTD
(Reporting by Aleef Jahan in Bengaluru)
Aug 4 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
PROTEAN EGOV TECHNOLOGIES JUNE-QUARTER CONSOL NET PROFIT 58.6 MILLION RUPEES
PROTEAN EGOV TECHNOLOGIES JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 2.51 BILLION RUPEES
Further company coverage: PROO.NS
(([email protected];))
Aug 4 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
PROTEAN EGOV TECHNOLOGIES JUNE-QUARTER CONSOL NET PROFIT 58.6 MILLION RUPEES
PROTEAN EGOV TECHNOLOGIES JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 2.51 BILLION RUPEES
Further company coverage: PROO.NS
(([email protected];))
Banks and insurers will start using Central KYC next month, sources said
Mutual funds and brokerages are expected to join later this year, sources said
Existing 1.2 billion-record KYC registry saw limited use over data-quality concerns
Adds comment from Protean eGov Technologies in paragraph 13
By Jayshree P Upadhyay and Ashwin Manikandan
MUMBAI, July 24 (Reuters) - Indian banks and insurers will launch a common customer identification system in August, with asset managers joining later, two regulatory sources and industry executives said, allowing customers to access financial products without separately submitting identification documents.
The new system, known as Central Know-Your-Customer 2.0 (CKYC), will only require the customer's consent for these institutions to fetch data stored at a central registry when opening an account or updating their details.
India has spent more than a decade trying to create a system similar to those in countries such as Singapore and several European nations, where digital identity frameworks allow customers to access multiple financial products through a common verification process.
It will also help combat fraud through easier monitoring, the regulatory sources said.
Capital markets firms, including mutual funds and brokerages, are expected to be able to use it later this year as regulators work through sector-specific requirements, they said.
The sources declined to be identified as they are not authorised to speak to the media. The Reserve Bank of India, the Securities and Exchange Board of India and the insurance regulator, all of whom are jointly executing the project, did not answer Reuters emails immediately.
The move comes as India seeks to deepen participation in financial products after having largely achieved basic financial inclusion.
About 89% of adults owned bank accounts in 2024, as per World Bank data, but ownership in mutual funds, insurance and pensions remains comparatively low, regulatory data showed.
WHAT'S CHANGING
While India already has a central registry containing about 1.2 billion customer records, it is not widely used due to concerns about the quality of data, with duplication and missing details.
With the RBI not accepting records sourced from the registry, investors had to file the same documents to access other financial products.
In the new system, records will carry a confidence score on the accuracy of data and will say whether a firm has verified the information.
Financial institutions would then need to seek customers' consent through a one-time password to access these verified records, according to the operating guidelines document seen by Reuters.
"The accuracy score ... wouldn’t just provide consented data, but through this matrix it will also tell them how much to trust it," said Rakesh Dosi, the chief business and product officer of Protean eGov Technologies, the company building the system.
DP Singh, joint chief executive of SBI Funds Management, India's largest asset manager, said, CKYC could substantially expand the industry's investor base.
The fund house's largest shareholder and the country's largest bank by assets, State Bank of India, for instance, has 500 million bank accounts.
"Even if a fraction of eligible customers begin investing after universal customer identification, the upside will be significant," Singh said, adding that the framework could be rolled out for the industry within four months.
Paras Pasricha, business head, Policybazaar, India's largest insurance marketplace, said records can be updated in near real-time.
"Insurance companies are in the process of building capabilities, and we are expecting something to come up by the end of July, and in August some phase of it should go live," he said.
(Reporting by Jayshree P Upadhyay and Ashwin Manikandan; Editing by Harikrishnan Nair)
(([email protected];))
Banks and insurers will start using Central KYC next month, sources said
Mutual funds and brokerages are expected to join later this year, sources said
Existing 1.2 billion-record KYC registry saw limited use over data-quality concerns
Adds comment from Protean eGov Technologies in paragraph 13
By Jayshree P Upadhyay and Ashwin Manikandan
MUMBAI, July 24 (Reuters) - Indian banks and insurers will launch a common customer identification system in August, with asset managers joining later, two regulatory sources and industry executives said, allowing customers to access financial products without separately submitting identification documents.
The new system, known as Central Know-Your-Customer 2.0 (CKYC), will only require the customer's consent for these institutions to fetch data stored at a central registry when opening an account or updating their details.
India has spent more than a decade trying to create a system similar to those in countries such as Singapore and several European nations, where digital identity frameworks allow customers to access multiple financial products through a common verification process.
It will also help combat fraud through easier monitoring, the regulatory sources said.
Capital markets firms, including mutual funds and brokerages, are expected to be able to use it later this year as regulators work through sector-specific requirements, they said.
The sources declined to be identified as they are not authorised to speak to the media. The Reserve Bank of India, the Securities and Exchange Board of India and the insurance regulator, all of whom are jointly executing the project, did not answer Reuters emails immediately.
The move comes as India seeks to deepen participation in financial products after having largely achieved basic financial inclusion.
About 89% of adults owned bank accounts in 2024, as per World Bank data, but ownership in mutual funds, insurance and pensions remains comparatively low, regulatory data showed.
WHAT'S CHANGING
While India already has a central registry containing about 1.2 billion customer records, it is not widely used due to concerns about the quality of data, with duplication and missing details.
With the RBI not accepting records sourced from the registry, investors had to file the same documents to access other financial products.
In the new system, records will carry a confidence score on the accuracy of data and will say whether a firm has verified the information.
Financial institutions would then need to seek customers' consent through a one-time password to access these verified records, according to the operating guidelines document seen by Reuters.
"The accuracy score ... wouldn’t just provide consented data, but through this matrix it will also tell them how much to trust it," said Rakesh Dosi, the chief business and product officer of Protean eGov Technologies, the company building the system.
DP Singh, joint chief executive of SBI Funds Management, India's largest asset manager, said, CKYC could substantially expand the industry's investor base.
The fund house's largest shareholder and the country's largest bank by assets, State Bank of India, for instance, has 500 million bank accounts.
"Even if a fraction of eligible customers begin investing after universal customer identification, the upside will be significant," Singh said, adding that the framework could be rolled out for the industry within four months.
Paras Pasricha, business head, Policybazaar, India's largest insurance marketplace, said records can be updated in near real-time.
"Insurance companies are in the process of building capabilities, and we are expecting something to come up by the end of July, and in August some phase of it should go live," he said.
(Reporting by Jayshree P Upadhyay and Ashwin Manikandan; Editing by Harikrishnan Nair)
(([email protected];))
July 3 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
PROTEAN EGOV TECHNOLOGIES - ENTERS MOU WITH NECTAR ON JULY 3, 2026
PROTEAN EGOV TECHNOLOGIES - MOU TO UNDERTAKE DIGITAL GOVERNANCE AND TECHNOLOGY PROJECTS IN NORTH EASTERN REGION
Source text: ID:nBSEp3vs6
Further company coverage: PROO.NS
(([email protected];))
July 3 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
PROTEAN EGOV TECHNOLOGIES - ENTERS MOU WITH NECTAR ON JULY 3, 2026
PROTEAN EGOV TECHNOLOGIES - MOU TO UNDERTAKE DIGITAL GOVERNANCE AND TECHNOLOGY PROJECTS IN NORTH EASTERN REGION
Source text: ID:nBSEp3vs6
Further company coverage: PROO.NS
(([email protected];))
May 20 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
PROTEAN EGOV TECHNOLOGIES MARCH-QUARTER CONSOL NET PROFIT 303.8 MILLION RUPEES
PROTEAN EGOV TECHNOLOGIES MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 3.08 BILLION RUPEES
PROTEAN EGOV TECHNOLOGIES - DIVIDEND 10 RUPEES PER SHARE
Source text: ID:nnAZN4SXGB5
Further company coverage: PROO.NS
(([email protected];))
May 20 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
PROTEAN EGOV TECHNOLOGIES MARCH-QUARTER CONSOL NET PROFIT 303.8 MILLION RUPEES
PROTEAN EGOV TECHNOLOGIES MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 3.08 BILLION RUPEES
PROTEAN EGOV TECHNOLOGIES - DIVIDEND 10 RUPEES PER SHARE
Source text: ID:nnAZN4SXGB5
Further company coverage: PROO.NS
(([email protected];))
Feb 11 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
DEC-QUARTER CONSOL NET PROFIT 225 MILLION RUPEES
DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 2.29 BILLION RUPEES
Source text: ID:nBSEbgcxkv
Further company coverage: PROO.NS
(([email protected];))
Feb 11 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
DEC-QUARTER CONSOL NET PROFIT 225 MILLION RUPEES
DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 2.29 BILLION RUPEES
Source text: ID:nBSEbgcxkv
Further company coverage: PROO.NS
(([email protected];))
Jan 16 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
PROTEAN EGOV TECHNOLOGIES LTD - SURESH SETHI RESIGNS AS MANAGING DIRECTOR & CEO EFFECTIVE MARCH 31, 2026
PROTEAN EGOV TECHNOLOGIES - V EASWARAN TO ASSUME CHARGE AS INTERIM CEO EFFECTIVE APRIL 1, 2026
Source text: ID:nBSE82GT0Z
Further company coverage: PROO.NS
(([email protected];))
Jan 16 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
PROTEAN EGOV TECHNOLOGIES LTD - SURESH SETHI RESIGNS AS MANAGING DIRECTOR & CEO EFFECTIVE MARCH 31, 2026
PROTEAN EGOV TECHNOLOGIES - V EASWARAN TO ASSUME CHARGE AS INTERIM CEO EFFECTIVE APRIL 1, 2026
Source text: ID:nBSE82GT0Z
Further company coverage: PROO.NS
(([email protected];))
** Shares of Protean eGov Technologies PROO.NS rise 6% to 870 rupees
** IT co gets work order worth 11.60 billion rupees ($132.56 million) from Unique Identification Authority of India (UIDAI)
** Order includes Aadhaar card enrolment, updates, and related services in 188 districts across India
** PROO rated "hold" by 3 analysts on average; median target price is 825 rupees – data compiled by LSEG
** Stock down 43.2% since trading debut on February 6
($1 = 87.5060 Indian rupees)
(Reporting by Rudra Pratap Singh in Bengaluru)
** Shares of Protean eGov Technologies PROO.NS rise 6% to 870 rupees
** IT co gets work order worth 11.60 billion rupees ($132.56 million) from Unique Identification Authority of India (UIDAI)
** Order includes Aadhaar card enrolment, updates, and related services in 188 districts across India
** PROO rated "hold" by 3 analysts on average; median target price is 825 rupees – data compiled by LSEG
** Stock down 43.2% since trading debut on February 6
($1 = 87.5060 Indian rupees)
(Reporting by Rudra Pratap Singh in Bengaluru)
Aug 25 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
RECEIVES UIDAI WORK ORDER WORTH 11.60 BILLION RUPEES
Source text: ID:nBSE58K2z1
Further company coverage: PROO.NS
(([email protected];))
Aug 25 (Reuters) - Protean eGov Technologies Ltd PROO.NS:
RECEIVES UIDAI WORK ORDER WORTH 11.60 BILLION RUPEES
Source text: ID:nBSE58K2z1
Further company coverage: PROO.NS
(([email protected];))
** Protean eGov Technologies shares PROO.NS rise 4.3% to 992 rupees, on track to post second day of gains
** IT co gets work order worth nearly 1 bln rupees ($11.7 mln) from Bima Sugam India Federation to design, develop, implement, and to provide support and maintenance for their insurance marketplace platform
** Bima Sugam is backed by insurance regulator IRDAI
** Trading volume at more than 722,000 shares, near 30-day moving avg of 776,319 shares
** PROO down nearly 31% since listing on Feb 6
($1 = 85.5540 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru)
(([email protected];))
** Protean eGov Technologies shares PROO.NS rise 4.3% to 992 rupees, on track to post second day of gains
** IT co gets work order worth nearly 1 bln rupees ($11.7 mln) from Bima Sugam India Federation to design, develop, implement, and to provide support and maintenance for their insurance marketplace platform
** Bima Sugam is backed by insurance regulator IRDAI
** Trading volume at more than 722,000 shares, near 30-day moving avg of 776,319 shares
** PROO down nearly 31% since listing on Feb 6
($1 = 85.5540 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru)
(([email protected];))
May 19 (Reuters) - Shares of Protean eGov Technologies PROO.NS tumbled 20% on Monday after the company said it was ruled out of bidding for an Indian government project, creating doubt about a service that accounts for nearly half of its revenue.
Protean has been managing applications for Permanent Account Numbers, or PAN cards -- used to maintain every taxpayer's record -- since around 2006. It claims roughly 60% market share for the service, which accounts for about half of its revenue.
However, Protean said on Sunday that the income tax department has "not considered favourably" the company's bid as a service provider for PAN 2.0, a $168 million project to consolidate multiple platforms and portals, and quicken processing times.
Protean's shares slumped a maximum-allowed 20% on Monday, on course for their worst day since listing on the National Stock Exchange in early February this year.
The company said it expects no operational impact on its current PAN business of processing and issuing PAN cards.
"We have reached out to the tax department to seek further clarity on their stance. As of now, we see limited impact," Managing Director Suresh Sethi said on an investor call.
However, Equirus Securities forecast a much bigger hit.
"While the impact (this fiscal year) may be muted, we expect a 75%-100% collapse in this revenue stream over the next 2-3 years," Equirus Securities said, downgrading the stock to "sell".
"About one-third of the industry's PAN requests currently originate directly from websites of PAN service providers -- volumes that will almost certainly shift to the PAN 2.0 contract winner once it goes live."
It was not immediately clear who else bid for the project.
ICICI Securities said Protean was considered the leading contender "by a distance" for PAN 2.0 and losing out "creates uncertainty on PAN business outlook over (the) medium term."
($1 = 85.3330 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Savio D'Souza)
(([email protected]; X: @MukherjeeHritam;))
May 19 (Reuters) - Shares of Protean eGov Technologies PROO.NS tumbled 20% on Monday after the company said it was ruled out of bidding for an Indian government project, creating doubt about a service that accounts for nearly half of its revenue.
Protean has been managing applications for Permanent Account Numbers, or PAN cards -- used to maintain every taxpayer's record -- since around 2006. It claims roughly 60% market share for the service, which accounts for about half of its revenue.
However, Protean said on Sunday that the income tax department has "not considered favourably" the company's bid as a service provider for PAN 2.0, a $168 million project to consolidate multiple platforms and portals, and quicken processing times.
Protean's shares slumped a maximum-allowed 20% on Monday, on course for their worst day since listing on the National Stock Exchange in early February this year.
The company said it expects no operational impact on its current PAN business of processing and issuing PAN cards.
"We have reached out to the tax department to seek further clarity on their stance. As of now, we see limited impact," Managing Director Suresh Sethi said on an investor call.
However, Equirus Securities forecast a much bigger hit.
"While the impact (this fiscal year) may be muted, we expect a 75%-100% collapse in this revenue stream over the next 2-3 years," Equirus Securities said, downgrading the stock to "sell".
"About one-third of the industry's PAN requests currently originate directly from websites of PAN service providers -- volumes that will almost certainly shift to the PAN 2.0 contract winner once it goes live."
It was not immediately clear who else bid for the project.
ICICI Securities said Protean was considered the leading contender "by a distance" for PAN 2.0 and losing out "creates uncertainty on PAN business outlook over (the) medium term."
($1 = 85.3330 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Savio D'Souza)
(([email protected]; X: @MukherjeeHritam;))
Feb 4 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
PROTEAN EGOV - GOT TAX ORDER FOR PENALTY 56.5 MILLION RUPEES, 23.4 MILLION RUPEES
Source text: ID:nBSE8b2lj8
Further company coverage: PROO.BO
(([email protected];))
Feb 4 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
PROTEAN EGOV - GOT TAX ORDER FOR PENALTY 56.5 MILLION RUPEES, 23.4 MILLION RUPEES
Source text: ID:nBSE8b2lj8
Further company coverage: PROO.BO
(([email protected];))
Feb 3 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
PROTEAN EGOV TECHNOLOGIES - GETS TAX ORDER IMPOSING PENALTY OF 6.2 MILLION RUPEES
Source text: ID:nBSE21GK5w
Further company coverage: PROO.BO
(([email protected];;))
Feb 3 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
PROTEAN EGOV TECHNOLOGIES - GETS TAX ORDER IMPOSING PENALTY OF 6.2 MILLION RUPEES
Source text: ID:nBSE21GK5w
Further company coverage: PROO.BO
(([email protected];;))
** Shares of Alankit ALAK.NS rise about 4%, set to snap a six-session losing run
** Protean eGov Technologies PROO.BO down about 1%
** E-governance services provider Alankit settles dispute with Protean eGov, with the latter to pay it 380.6 mln rupees ($4.5 mln)
** ALAK has risen roughly 14% YTD, while PROO has jumped about 66.5%
($1 = 85.1770 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
** Shares of Alankit ALAK.NS rise about 4%, set to snap a six-session losing run
** Protean eGov Technologies PROO.BO down about 1%
** E-governance services provider Alankit settles dispute with Protean eGov, with the latter to pay it 380.6 mln rupees ($4.5 mln)
** ALAK has risen roughly 14% YTD, while PROO has jumped about 66.5%
($1 = 85.1770 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
Dec 23 (Reuters) - Alankit Ltd ALAK.NS:
ALANKIT LTD - SETTLES CASE WTH PROTEAN EGOV TECHNOLOGIES
ALANKIT - CASE SETTLED FOR 380.6 MILLION RUPEES
Source text: ID:nBSE78v3c5
Further company coverage: ALAK.NS
(([email protected];))
Dec 23 (Reuters) - Alankit Ltd ALAK.NS:
ALANKIT LTD - SETTLES CASE WTH PROTEAN EGOV TECHNOLOGIES
ALANKIT - CASE SETTLED FOR 380.6 MILLION RUPEES
Source text: ID:nBSE78v3c5
Further company coverage: ALAK.NS
(([email protected];))
Dec 16 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
PROTEAN EGOV TECHNOLOGIES - UNIT NSDL E-GOVERNANCE (MALAYSIA) SDN. BHD DISSOLVED
Source text: ID:nBSE20F9SP
Further company coverage: PROO.BO
(([email protected];))
Dec 16 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
PROTEAN EGOV TECHNOLOGIES - UNIT NSDL E-GOVERNANCE (MALAYSIA) SDN. BHD DISSOLVED
Source text: ID:nBSE20F9SP
Further company coverage: PROO.BO
(([email protected];))
Dec 2 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
GOT ORDER WORTH 1.61 BILLION RUPEES
Source text: ID:nBSE6CW4j9
Further company coverage: PROO.BO
(([email protected];;))
Dec 2 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
GOT ORDER WORTH 1.61 BILLION RUPEES
Source text: ID:nBSE6CW4j9
Further company coverage: PROO.BO
(([email protected];;))
Nov 22 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
NSE INVESTMENTS TO EXERCISE OVERSUBSCRIPTION OPTION IN PROTEAN EGOV TECHNOLOGIES OFS - FILING
NSE INVESTMENTS TO SELL UP TO 10.16% STAKE IN PROTEAN EGOV OFS VIA OVERSUBSCRIPTION OPTION - FILING
Source text: ID:nBSE66BGPt
Further company coverage: PROO.BO
(([email protected];;))
Nov 22 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
NSE INVESTMENTS TO EXERCISE OVERSUBSCRIPTION OPTION IN PROTEAN EGOV TECHNOLOGIES OFS - FILING
NSE INVESTMENTS TO SELL UP TO 10.16% STAKE IN PROTEAN EGOV OFS VIA OVERSUBSCRIPTION OPTION - FILING
Source text: ID:nBSE66BGPt
Further company coverage: PROO.BO
(([email protected];;))
Nov 21 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
NSE INVESTMENTS TO SELL UP TO 20.31% STAKE IN PROTEAN EGOV TECHNOLOGIES VIA OFFER FOR SALE - FILING
FLOOR PRICE FOR PROTEAN EGOV TECHNOLOGIES OFFER FOR SALE AT 1,550 RUPEES/SHARE - FILING
Source text: ID:nBSE35v1VV
Further company coverage: NSEI.NS
(([email protected];;))
Nov 21 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
NSE INVESTMENTS TO SELL UP TO 20.31% STAKE IN PROTEAN EGOV TECHNOLOGIES VIA OFFER FOR SALE - FILING
FLOOR PRICE FOR PROTEAN EGOV TECHNOLOGIES OFFER FOR SALE AT 1,550 RUPEES/SHARE - FILING
Source text: ID:nBSE35v1VV
Further company coverage: NSEI.NS
(([email protected];;))
** Shares of Protean eGov Technologies PROO.BO fall ~2% to 1,858 rupees
** Digital infrastructure firm posts ~15% y/y drop in Q2 consol net profit; rev declines ~7%
** PROO set to snap three straight sessions of gains, where it rose 6.5%
** Still, stock has more than doubled since listing in Nov. 2023
(Reporitng by Nishit Navin)
(([email protected];))
** Shares of Protean eGov Technologies PROO.BO fall ~2% to 1,858 rupees
** Digital infrastructure firm posts ~15% y/y drop in Q2 consol net profit; rev declines ~7%
** PROO set to snap three straight sessions of gains, where it rose 6.5%
** Still, stock has more than doubled since listing in Nov. 2023
(Reporitng by Nishit Navin)
(([email protected];))
** Shares of digital infrastructure firm Protean eGov Technologies PROO.BO rise ~7%
** Co is planning to raise 2.45 bln rupees ($29.5 mln) fund raise via Qualified Institutional Placement (QIP), CNBC-TV18 reports
** Protean did not immediately respond to Reuters' request for comment
** Stock sees its second-most active session ever, more than 5.5 mln shares traded as of 1:30 p.m. IST
** Stock up ~53% since listing in mid-Nov. 2023
($1 = 83.1594 Indian rupees)
(Reporting by Nishit Navin in Bengaluru)
(([email protected];))
** Shares of digital infrastructure firm Protean eGov Technologies PROO.BO rise ~7%
** Co is planning to raise 2.45 bln rupees ($29.5 mln) fund raise via Qualified Institutional Placement (QIP), CNBC-TV18 reports
** Protean did not immediately respond to Reuters' request for comment
** Stock sees its second-most active session ever, more than 5.5 mln shares traded as of 1:30 p.m. IST
** Stock up ~53% since listing in mid-Nov. 2023
($1 = 83.1594 Indian rupees)
(Reporting by Nishit Navin in Bengaluru)
(([email protected];))
Feb 7 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
DEC-QUARTER CONSOL NET PROFIT 152.3 MILLION RUPEES VERSUS 284.5 MILLION RUPEES YEAR AGO
DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 2.04 BILLION RUPEES VERSUS 1.76 BILLION RUPEES YEAR AGO
Further company coverage: PROO.BO
(([email protected];))
Feb 7 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
DEC-QUARTER CONSOL NET PROFIT 152.3 MILLION RUPEES VERSUS 284.5 MILLION RUPEES YEAR AGO
DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 2.04 BILLION RUPEES VERSUS 1.76 BILLION RUPEES YEAR AGO
Further company coverage: PROO.BO
(([email protected];))
Jan 26 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
PROTEAN EGOV TECHNOLOGIES LTD - RECEIPT OF WORK ORDER WORTH 160 MILLION RUPEES
Source text for Eikon: ID:nBSE9L1s1c
Further company coverage: PROO.BO
(([email protected];))
Jan 26 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
PROTEAN EGOV TECHNOLOGIES LTD - RECEIPT OF WORK ORDER WORTH 160 MILLION RUPEES
Source text for Eikon: ID:nBSE9L1s1c
Further company coverage: PROO.BO
(([email protected];))
Jan 23 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
MADE ADDITIONAL EQUITY INVESTMENT OF 50 MILLION RUPEES IN ONDC
Source text for Eikon: [ID:]
Further company coverage: PROO.BO
(([email protected];))
Jan 23 (Reuters) - Protean eGov Technologies Ltd PROO.BO:
MADE ADDITIONAL EQUITY INVESTMENT OF 50 MILLION RUPEES IN ONDC
Source text for Eikon: [ID:]
Further company coverage: PROO.BO
(([email protected];))
** Protean eGov Technologies PROO.BO jumps as much as 7% to 847.50 rupees in trading debut vs IPO price of 792 rupees
** Digital infrastructure co's stock recovers after tepid start; opened at IPO price and hit session-low of 775 rupees
** PROO to trade in 770-830 rupees range for next two weeks, estimates Arun Kejriwal, founder at Kejriwal Research & Investment Services
** Says "There is a fatigue factor ... with IPOs because investors are not making as much money as they expected"
** IPO oversubscribed ~24x; existing holders, incl NSE Investments, Deutsche Bank and HDFC Bank, sold shares worth up to 4.89 bln rupees
** ICICI Securities, IIFL Securities among lead book runners
($1 = 83.2890 Indian rupees)
(Reporting by Rama Venkat in Bengaluru)
** Protean eGov Technologies PROO.BO jumps as much as 7% to 847.50 rupees in trading debut vs IPO price of 792 rupees
** Digital infrastructure co's stock recovers after tepid start; opened at IPO price and hit session-low of 775 rupees
** PROO to trade in 770-830 rupees range for next two weeks, estimates Arun Kejriwal, founder at Kejriwal Research & Investment Services
** Says "There is a fatigue factor ... with IPOs because investors are not making as much money as they expected"
** IPO oversubscribed ~24x; existing holders, incl NSE Investments, Deutsche Bank and HDFC Bank, sold shares worth up to 4.89 bln rupees
** ICICI Securities, IIFL Securities among lead book runners
($1 = 83.2890 Indian rupees)
(Reporting by Rama Venkat in Bengaluru)
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What does Protean e-Gov Tech. do?
Protean e-Gov Technologies Limited is one of the key IT-enabled solutions companies in India engaged in conceptualizing, developing and executing nationally critical and population scale Greenfield technology solutions. It collaborates with the government and has extensive experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions. It was originally setup as a depository in 1995 and created a systemically important national infrastructure for capital market development in India.
Who are the competitors of Protean e-Gov Tech.?
Protean e-Gov Tech. major competitors are KFin Technologies, eMudhra, Computer Age Mgmnt., Hinduja Global Soln., Digitide Solutions, One Point OneSolutin, Alldigi Tech. Market Cap of Protean e-Gov Tech. is ₹2,192 Crs. While the median market cap of its peers are ₹1,871 Crs.
Is Protean e-Gov Tech. financially stable compared to its competitors?
Protean e-Gov Tech. seems to be less financially stable compared to its competitors. Altman Z score of Protean e-Gov Tech. is 5.44 and is ranked 5 out of its 8 competitors.
Does Protean e-Gov Tech. pay decent dividends?
The company seems to pay a good stable dividend. Protean e-Gov Tech. latest dividend payout ratio is 40.38% and 3yr average dividend payout ratio is 41.94%
How has Protean e-Gov Tech. allocated its funds?
Companies resources are allocated to majorly unproductive assets like Accounts Receivable, Short Term Loans & Advances
How strong is Protean e-Gov Tech. balance sheet?
Balance sheet of Protean e-Gov Tech. is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of Protean e-Gov Tech. improving?
The profit is oscillating. The profit of Protean e-Gov Tech. is ₹82.6 Crs for TTM, ₹101 Crs for Mar 2026 and ₹92.46 Crs for Mar 2025.
Is the debt of Protean e-Gov Tech. increasing or decreasing?
The net debt of Protean e-Gov Tech. is decreasing. Latest net debt of Protean e-Gov Tech. is -₹373.05 Crs as of Mar-26. This is less than Mar-25 when it was -₹272.43 Crs.
Is Protean e-Gov Tech. stock expensive?
Protean e-Gov Tech. is not expensive. Latest PE of Protean e-Gov Tech. is 26.54, while 3 year average PE is 49.16. Also latest EV/EBITDA of Protean e-Gov Tech. is 17.98 while 3yr average is 55.1.
Has the share price of Protean e-Gov Tech. grown faster than its competition?
Protean e-Gov Tech. has given lower returns compared to its competitors. Protean e-Gov Tech. has grown at ~-37.8% over the last 1yrs while peers have grown at a median rate of -16.89%
Is the promoter bullish about Protean e-Gov Tech.?
There is Insufficient data to gauge this.
Are mutual funds buying/selling Protean e-Gov Tech.?
The mutual fund holding of Protean e-Gov Tech. is stable. The current mutual fund holding in Protean e-Gov Tech. is 2.22% while previous quarter holding is 2.22%.