Protean eGov Technologies Shares Tumble 20% After Missing PAN 2.0 Project Bid
Protean eGov Technologies shares. plummeted by 20% on Monday, hitting the lower circuit, after the company disclosed that it was not shortlisted for the next phase of the Income Tax Department’s selection process for the highly anticipated PAN 2.0 initiative.
The PAN 2.0 project, a comprehensive upgrade to India’s existing Permanent Account Number infrastructure, seeks to overhaul the design, development, and management of PAN systems as part of the government’s broader digital transformation drive. Despite being a major player in India’s current PAN processing system, Protean’s bid to continue with the new platform did not receive favorable consideration.
The company, which is still managing PAN services under existing government contracts, downplayed the implications of this development. In a regulatory filing, it stated that the decision would have “limited or minimal impact” on ongoing operations. However, the market responded sharply, reflecting investor concerns about the company’s future earnings potential.
With the PAN 2.0 project expected to become the centerpiece of future identity verification and taxation frameworks, missing out on this opportunity raises questions about the company’s ability to maintain its leadership in the sector.
Monday’s steep drop marked the company’s worst intraday performance since its debut on the stock exchange in November 2023. The stock reached its lowest point since June 2024, underlining investor apprehension following the announcement.
Formerly known as NSDL e-Governance Infrastructure Ltd., Protean has long been a key player in India’s digital public infrastructure, contributing to projects in areas like taxation, identity management, and digital governance. As the firm adjusts its strategy in light of this development, investors and stakeholders will be watching closely to see how it adapts and diversifies its portfolio moving forward.
Click Here Know Main Reason of Fall in Protean eGov Technologies Shares
Protean eGov Technologies Share Price
The Protean eGov Technologies share, trading on the NSE, showed specific price movements on May 19, 2025. The stock opened at ₹1,165.00 for the day. It reached a high of ₹1,192.00 before trading at ₹1,143.20, reflecting a significant decrease of 19.99% compared to its previous close of ₹1,428.90.
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