Protean eGov Technologies Ltd approves ₹30.2 crore acquisition of 4.95% stake in NSDL Payments Bank

Key facts

• Protean eGov Technologies Ltd board approved acquisition of 93,74,014 equity shares representing 4.95% equity stake in NSDL Payments Bank for ₹30.2 crore.
• Transaction to be completed in single cash-based equity subscription within 60 days from agreement execution.
• NSDL Payments Bank operates on B2B2C model offering digital banking solutions including domestic money transfers, savings accounts, micro-ATMs, AePS, prepaid cards, UPI payments, POS solutions, and distribution of life insurance, health insurance, and mutual fund schemes.
• No governmental or regulatory approvals required for the acquisition.
• Shares of Protean eGov Technologies Ltd closed at ₹785.20 on BSE, up ₹3.40 or 0.43%.