Latest news with #BimaSugamMarketplace
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Business Standard
4 days ago
- Business
- Business Standard
Protean eGov share price zooms 6% on securing this deal; key details here
Protean eGov Technologies share price: Protean eGov Technologies (Protean eGov) shares rose as much as 6.02 per cent to hit an intraday high of ₹1,009 per share on Tuesday, June 10, 2025. At 10:45 AM, Protean eGov share price was off day's high and was trading 3.81 per cent higher at ₹987.90 per share. In comparison, BSE Sensex was trading marginally higher (up 0.10 per cent) at 82,530.24 levels. What led to an uptick in Protean eGov share price today? Protean eGov shares were buzzing in trade after the company announced that it has secured a work order of 100 crore from Bima Sugam India Federation (BSIF) via request for proposal (RFP) process. In an exchange filing, Protean eGov said, 'We are pleased to inform you that Protean eGov Technologies has been awarded a prestigious and strategically significant work order valued at approximately ₹100 crore, on June 9, 2025, by the Bima Sugam India Federation (BSIF) through the RFP process.' Under the terms of the order, the company shall serve as the Technology Solution Provider for end-to-end development, implementation, support and maintenance of Bima Sugam Marketplace, platform integrations and marketplace protocols. This deal further strengthens Protean eGov's role as a trusted technology partner in India's Digital Public Infrastructure (DPI) journey, building on our legacy of enabling critical citizen-centric digital systems at national scale. The time period of this contract is 72 months from the date of execution of the contract, Protean eGov said. BSIF, a not-for-profit entity led by key stakeholders of the Indian insurance ecosystem, governs Bima Sugam - a digital public platform envisaged as a unified, nation-scale marketplace for insurance products and services. About Protean eGov Technologies Protean eGov Technologies is a technology company that specialises in delivering e-governance solutions, with a strong focus on building and managing digital public infrastructure (DPI). Formerly known as NSDL e-Governance Infrastructure Ltd., the company partners with government agencies to enhance public service delivery, streamline administrative processes, and foster financial inclusion. With a portfolio spanning taxation (PAN, TIN), social security (NPS, APY), and identity systems (Aadhaar), Protean eGov plays a crucial role in the implementation of citizen-centric digital services. Established in 1995 as a depository to support India's capital market infrastructure, Protean has since evolved into a key player in the country's digital transformation journey. It has been instrumental in building the foundational digital architecture for initiatives like 'Digital India' and is a trusted partner for system integration, IT consulting, and process re-engineering across the public sector. Its contributions—ranging from Aadhaar enrollment and eSign services to tax network modernisation—have had a great impact on improving governance, expanding financial access, and enabling secure digital identities for billions of Indians.
Business Standard
4 days ago
- Business
- Business Standard
Protean eGov Tech bags order worth Rs 100 cr from BSIF
Protean eGov Technologies announced that it has received an order worth Rs 100 crore from Bima Sugam India Federation (BSIF) through request for proposal (RFP) process. BSIF, a not-for-profit entity led by key stakeholders of the Indian insurance ecosystem, governs Bima Sugam - an ambitious digital public platform envisaged as a unified, nation-scale marketplace for insurance products and services. The company shall serve as the technology solution provider for end-to-end development, implementation, support and maintenance of Bima Sugam Marketplace, platform integrations and marketplace protocols. This engagement further strengthens the companys role as a trusted technology partner in Indias Digital Public Infrastructure (DPI) journey, building on its legacy of enabling critical citizen-centric digital systems at national scale. The project is scheduled for completion within 72 months from the contract execution date. Protean eGov Technologies is an IT solutions company engaged in developing digital public infrastructure and citizen-centric e-governance solutions. The companys consolidated net profit jumped 5.8% to Rs 20.40 crore on 0.03% increase in net sales to Rs 222.15 crore in Q4 FY25 over Q4 FY24. The counter rose 0.12% to end at Rs 951.65 on the BSE.
India Today
4 days ago
- Business
- India Today
Stocks to watch on June 10: Wipro, Tech Mahindra, Motilal Oswal, Premier Energies
Markets started the new week on a positive note, continuing Friday's gains. Sensex and Nifty rose nearly half a percent, driven by favourable trends in both domestic and global are hopeful that the rally will continue. As trading resumes on June 10, here are some of the key stocks to keep an eye on:PROTEAN EGOV TECHNOLOGIESProtean eGov Technologies has bagged a work order worth around Rs 100 crore from the Bima Sugam India Federation (BSIF). The order involves complete development, running, and maintenance of the Bima Sugam Marketplace. The company will also handle all platform integrations and marketplace-related protocols. This is expected to be a major step for Protean in the digital insurance services came into focus after a large block deal. The Azim Premji Trust, which is the promoter entity, sold 20.23 crore shares of the company. The total value of the deal stood at Rs 5,057 crore. This major transaction may impact the stock price in the short ENERGIESAccording to a CNBC-TV18 report, South Asia Growth Fund II Holdings is likely to offload 2.5 crore equity shares of Premier Energies through a block deal. This represents around 5.5% of the company's paid-up capital. The floor price for the sale is expected to be Rs 1,051.50 per OSWAL FINANCIAL SERVICES (MOFSL)Sebi has imposed a fine of Rs 3 lakh on Motilal Oswal Financial Services for breaking certain rules. This penalty follows an investigation into the firm's conduct in capital market operations. The exact nature of the violation has not been disclosed, but this development could attract some investor MAHINDRATech Mahindra announced that Lakshmanan Chidambaram, President of Tech Mahindra Americas – strategic vertical business, will retire on June 30. His exit may affect investor sentiment, especially in the company's US-based GLOBAL CAPITALCapri Global Capital opened its Qualified Institutions Placement (QIP) for subscription on June 9. The floor price is set at Rs 153.93 per share. Reports suggest that the QIP size could go up to Rs 2,000 crore, including a Rs 500 crore upsize option. This move is aimed at raising capital to support business SMALL FINANCE BANKJana Small Finance Bank has applied to the Reserve Bank of India to convert itself into a universal bank. If approved, this would allow the bank to offer a wider range of services. The decision is seen as a step forward in the bank's growth REALTYPankaj Gupta has stepped down as CEO of the Commercial Real Estate division of Oberoi Realty. His resignation took effect on June 9. The company has not announced a replacement PHARMA INDIASanjeev Kumar Panchal, the Managing Director of AstraZeneca Pharma India, has resigned. His last working day will be June 30. AstraZeneca is expected to begin the process of finding a new MD MOTORSForce Motors saw a top-level change as its CFO, Sanjay Kumar Bohra, resigned on June 9. The company has appointed Rishi Luharuka as the new Chief Financial Officer starting June 10. This leadership change may lead to new strategies in the company's financial planning. advertisement
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Business Standard
5 days ago
- Business
- Business Standard
Protean eGov Tech bags order worth ₹100 cr from Bima Sugam Marketplace
Protean eGov Technologies has secured a work order worth approximately ₹100 crore from the Bima Sugam India Federation (BSIF) through the request for proposal (RFP) process. As per the terms outlined in the work order, Protean will act as the Technology Solution Provider for the complete development, implementation, support, and maintenance of the Bima Sugam Marketplace. The scope also includes platform integrations and adherence to marketplace protocols. Protean is a public technology firm known for its role in designing, implementing, and managing large-scale digital infrastructure projects for various government entities. 'This engagement further strengthens Protean's role as a trusted technology partner in India's Digital Public Infrastructure (DPI) journey, building on our legacy of enabling critical citizen-centric digital systems at national scale,' the company said in an exchange filing. Q4 financial results In the fourth quarter of FY25, the company reported a consolidated net profit of ₹20 crore, marking a 6 per cent year-on-year increase. Revenue from operations remained steady at ₹222 crore during the same period. For the full financial year, Protean posted consolidated revenue from operations of ₹841 crore, reflecting a 5 per cent decline year-on-year. EBITDA for FY25 stood at ₹149 crore, down from ₹157 crore in FY24. The EBITDA margin was recorded at 16.3 per cent. Promoter divestments and stake sales In November, NSE Investments, classified as a non-promoter, proposed to sell 4,117,303 shares through an offer-for-sale (OFS), representing a 10.16 per cent base offer stake. The OFS was scheduled for 22–25 November, with the floor price set at ₹1,550 per share. On 8 August 2024, Standard Chartered Bank exited its 3.09 per cent stake in Protean through an open market transaction. According to BSE bulk deal data, it sold 1.2 million shares at an average price of ₹1,799.79 per share, totalling ₹224.97 crore. Earlier, on 21 May 2024, HDFC Bank sold its entire 3.20 per cent holding in Protean. The bank offloaded 1,294,326 shares at an average price of ₹1,160.15 per share, generating a transaction value of ₹150.16 crore.
