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.
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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)
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