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Business Economy


Newgen Software Technologies’ IPO to open on Jan 16

Newgen Software Technologies’ IPO to open on Jan 16

New Delhi, Jan 11 (UNI) Newgen Software Technologies Limited, a software products company, will be launching its initial public offering (IPO) which is scheduled to open on Tuesday, January 16, 2018 and close on Thursday, January 18, 2018, with a price band of Rs 240 to Rs 245 per equity share of face value of Rs 10 each of the Company.

The Anchor Investor Bidding Date shall be Monday, January 15, 2018, being one working day prior to the Bid/ Offer Opening Date.

Briefing reporters on Thursday, Dinkar Nigam, CMD, Newgen Software Technologies said that the Offer is being made through the Book Building Process, wherein not more than 50 per cent of the Offer shall be allocated to Qualified Institutional Buyers.

He said that the IPO comprises of Fresh Issue of up to Rs 950 million by the Company and an offer for sale by the Selling Shareholders.The Offer for Sale consists of up to 13,453,932 equity shares. The minimum Bid lot is 61 Equity Shares and in multiples of 61 Equity Shares thereafter.

According to him, the Floor Price is 24.00 times of the face value and the Cap Price is 24.50 times of the Face Value.

Newgen Software Technologies Limited enables organisations to rapidly develop powerful applications addressing their strategic business needs. The applications created on Newgen’s platform enable organisations to drive digital transformation and competitive differentiation. This may include automation of routine business functions making them faster, easier and more accurate and increasing the channels or devices through which these functions can be performed.

UNI ADP SHK 1536

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