Newgen Software Technologies to launch IPO on Jan 16

Mumbai: Software products firm Newgen Software Technologies is all set to go public and will launch its initial public offering on January 16th. The company is looking to raise Rs 450 crore through the offer which will close on January 18th.

The IPO comprises of a fresh issue of up to Rs 95 crore by the company and an offer for sale by the selling shareholders. The price band for the issue has been maintained at Rs 240-245 per share and the offer for sale consists of up to 13,453,932 shares.

Through the issue, the company is looking to offer about 25% of the stake which will see some investors make a partial exit. None of the promoters are selling their stake through the issue.


The Delhi-based company provides Business Process Management (BPM), Enterprise Content Management (ECM), Customer Communication Management (CCM), Document Management System (DMS), Workflow and Process Automation services to companies in over 60 countries.

ICICI Securities and Jefferies India are the global co-ordinators and book running lead managers to the offer. IDFC Bank is the book running lead manager while the registrar to the offer is Karvy Computershare

Newgen Software Technologies Limited is proposed to be listed on National Stock Exchange of India and BSE Limited.