HDFC Bank Sells Entire Stake in Protean eGov Technologies for Rs 150 Crore

On Tuesday, HDFC Bank, a private sector lender, sold its entire 3.20% stake in Protean eGov Technologies for Rs 150 crore through an open market transaction. According to data from the Bombay Stock Exchange (BSE), HDFC Bank sold 12,94,326 shares, representing a 3.20% stake in Protean eGov Technologies. The shares were sold at an average price of Rs 1,160.15 per share, resulting in a total transaction value of Rs 150.16 crore.

In contrast, Nippon India Mutual Fund purchased 12.78 lakh shares, equivalent to a 3.16% stake in Protean eGov Technologies, for Rs 148 crore. The shares were acquired at an average price of Rs 1,160 per share, making the deal size Rs 148.28 crore, according to BSE data. Unfortunately, details regarding the other buyers are not available.

On Tuesday, the shares of Protean eGov Technologies increased by 0.84% and closed at Rs 1,205.60 per share on the BSE.