HDFC Bank Divests Stake in Protean eGov for Rs 150 Crore

HDFC Bank sold its 3.20% stake in Protean eGov Technologies for Rs 150 crore. The shares were traded at an average price of Rs 1,160.15 each. Nippon India Mutual Fund acquired a 3.16% stake in Protean eGov Technologies for Rs 148 crore, buying shares at Rs 1,160 apiece.

Private sector lender HDFC Bank on Tuesday sold its entire 3.20 per cent stake in Protean eGov Technologies for Rs 150 crore through an open market transaction.

According to the bulk deal data available with the BSE, HDFC Bank sold 12,94,326 shares, amounting to a 3.20 per cent stake in Protean eGov Technologies.

The shares were offloaded at an average price of Rs 1,160.15 apiece, taking the transaction value to Rs 150.16 crore.

Meanwhile, Nippon India Mutual Fund purchased 12.78 lakh shares or 3.16 per cent stake in Protean eGov Technologies for Rs 148 crore.

The shares were acquired at an average price of Rs 1,160 per piece, taking the deal size to Rs 148.28 crore, as per the data on the BSE.

Details of the other buyers could not be ascertained.

Shares of Protean eGov Technologies gained 0.84 per cent to close at Rs 1,205.60 apiece on the BSE on Tuesday.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)