Small Cap stock business of developing citizen-centric and population-scale e-governance solutions jumped 9 percent in the day’s trade following reports of likely fundraise and large trade of equity shares of the company.
With a market capitalization of Rs. 4,984 Crores the shares of Protean eGov Technologies Limited were trading at Rs. 1,232, up 8.71 percent from its previous day’s close price of Rs. 1,133.30.
As per the sources, Protean eGov Technologies Limited is planning to launch qualified institutional placement of the company comprising of a base issue size of Rs. 170 Crores and a green shoe option of Rs.75 Crores.
As per the recent large trade data available through the sources, a large trade has been executed where 21.5 lakh equity shares or 5.32 percent equity of the company worth Rs. 241.4 Crores have changed hands.
Protean eGov Technologies Limited previously known as NSDL e-Governance Infrastructure Limited is engaged in the business of developing citizen-centric and population-scale e-governance solutions.
Its revenue from operations grew by 7.36 percent from Rs. 691 Crores in FY22 to Rs. 742 Crores in FY23, accompanied by profits of Rs. 144 Crores to Rs. 108 Crores.
It has reported a return on equity (ROE) of 13.1 percent and a return on capital employed (ROCE) of 17.2 percent, it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
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