Protean eGov share price hits 20% lower circuit after govt rejects application for PAN 2.0 project

Protean eGov Technologies share price hit a 20 per cent lower circuit on Monday, May 19, following the company's announcement over the weekend that it was not shortlisted for the next phase of the PAN 2.0 project RFP selection by the Income Tax Department.

At 9:15 am, Protean eGov share price opened at ₹1,143.2 apiece on May 19, against previous close at ₹1,428.90 on Friday last week.

In an exchange filing on Sunday, Protean disclosed that the Income Tax Department had released a notice seeking proposals and bids to select a Managed Service Provider (MSP) for the design, development, implementation, operation, and maintenance of its PAN 2.0 project.

(This is a developing story)

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