NSE Investments, a wholly-owned subsidiary of the National Stock Exchange (NSE), will sell up to 20.32% of its stake in Protean eGov Technologies through an Offer for Sale (OFS). The floor price for the stake sale has been set at Rs 1,550 per share. The OFS includes a base offer of 10.16% equity, with an additional 10.16% available under the green shoe option. The offer will open for non-retail investors on November 22, while retail investors can participate on November 25.
It takes e-governance services right into the realm of taxation and social welfare infrastructure, whereby Protean eGov Technologies executes systems management assignments for NPS, Atal Pension Yojana, among others. Further, it has designed an account aggregation subsidiary, which comes within the purview of the RBI.
NSE Investments was set up for strategic investment in equity and securities. The divestment will enable NSE Investments to rebalance its portfolio, while Protean continues with its work in projects of critical governance and social importance.
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Source: Moneycontrol
News Desk
