Standard Chartered Bank exits Protean eGov Tech, sells stake for Rs 225 cr

British multinational Standard Chartered Bank on Thursday exited Protean eGov Technologies by selling its entire 3.09 per cent stake for Rs 225 crore through an open market transaction.

According to the bulk deal data available on the BSE, Standard Chartered Bank offloaded 12.50 lakh shares or 3.09 per cent stake in Protean eGov Technologies.

The shares were disposed of at an average price of Rs 1,799.79 apiece, taking the deal value to Rs 224.97 crore.

At the end of the June quarter, London-based Standard Chartered Bank owned a 3.09 per cent stake in Protean eGov Technologies, shareholding data showed with the bourse.

Details of buyers of Protean eGov Tech's shares could not be ascertained. Shares of Protean eGov Technologies fell 1.19 per cent to close at Rs 1,845.45 per piece on the BSE.

On Monday, Protean eGov Technologies reported a 10.83 per cent decline in its consolidated net sales to Rs 196.54 crore for the quarter ended June, compared to Rs 220.41 crore in the correspon