Protean eGov Technologies Ltd (PROTEAN) Strategic Acquisition of 4.95% Stake in NSDL Payments Bank

1. Transaction Overview Protean eGov Technologies Ltd has received board approval to acquire a 4.95% equity stake in NSDL Payments Bank (NSDL PB). The investment involves a cash consideration of ₹30.2 crore for the subscription of 93,74,014 equity shares. The transaction is structured as a cash-based equity subscription and is expected to be finalized within 60 days of the agreement execution. 2. Target Profile & Synergies NSDL PB, a wholly-owned subsidiary of National Securities Depository Ltd (NSDL), operates on a B2B2C model providing digital banking solutions. Their portfolio includes Domestic Money Transfers, Micro-ATMs, Aadhaar-enabled Payment Systems (AePS), UPI solutions, and the distribution of third-party financial products (Insurance & Mutual Funds). Strategic Rationale: The investment aligns with Protean’s long-term vision to develop future-ready digital banking technologies and deepen its integration into India’s financial ecosystem. Regulatory Status: Management has confirmed the transaction is at arm’s length and requires no governmental or regulatory approvals. 3. Key Leadership Update The Board has appointed Mr. V Easwaran as an Additional Director in the category of Executive Director, strengthening the company's leadership team. 4. Market Reaction Following the announcement on December 16, Protean eGov shares closed at ₹785.20 on the BSE, registering a gain of 0.43% (+₹3.40).