Protean eGov is a unique play on digital public infrastructure. Buy for TP ₹2510 (24% upside)

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Pee Vee
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Protean eGov is a unique play on digital public infrastructure. Buy for TP ₹2510 (24% upside)

Post by Pee Vee »

Protean eGov Technologies Ltd. (Protean), erstwhile known as NSDL e-Governance focuses on developing / modernising digital public infrastructure (DPI) and e-governance initiatives for various governmental bodies in India. Protean is a professionally managed company backed by several large financial institutions. Recently, NSE has sold its 20.31% stake, making Protean eligible to list on NSE.

• The company has 3 core verticals including i) Tax services (PAN, TIN, eTDS), ii) social security & welfare (Central record keeping agency i.e. CRA for NPS & APY) and iii) identity authentication (PAN verification, Aadhaar authentication, e-KYC & e-Sign). Further, it has ventured in new age businesses including Open Digital Ecosystem (ODE): ONDC play, along with data-stacks for students, farmers and health department), Cloud & Infosec.

• Strong distribution network as it operates over 4.42 lakhs PAN/TIN facilitation centres and strategic network entities covering 18,000 locations across 36 states and Union territories in India.

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