*If you’ve ever applied for a PAN card, chances are this company helped issue it.* Today, this company tanked *20%* on the stock market. Here’s the story of *Protean eGov* and why investors are suddenly worried 🧵 Protean eGov Technologies (earlier NSDL e-Governance Infra) has been a silent enabler of India’s digital infra since 1995. From *PAN to Aadhaar to the National Pension System*, this company touches nearly every Indian's life. The company is a Digital Public Infrastructure (DPI) player. It helps govt services go paperless at population scale. *So, what happened today?* The Income Tax Department *did not select* Protean for its PAN 2.0 project. Despite earlier indications of strong positioning, they have been eliminated from the RFP process. As a result, the *stock hit a 20% lower circuit.* Why PAN 2.0 matters: Read more: https://x.com/INDmoneyApp/status/1924476369116811446