Newgen Software IPO receives 19% subscription on first day

The initial public offering (IPO) of Newgen Software Technologies Ltd received 19% subscription on the first day of the sale.

The company has set a price band of INR 240-245 per share for the IPO.

The offer will close on 18 January.

The company will utilize the proceeds for furnishing its office premises in Noida.

Newgen Software, is a provider of Business Process Management (BPM), Enterprise Content Management (ECM), Customer Communication Management (CCM) and Case Management solutions with large, mission-critical solutions deployed at world’s leading Banks, Insurance firms, Healthcare Organizations, Governments, BPO’s & Telecom Companies.

The company has been recognized by distinguished analyst firms including Gartner and Forrester. It has been positioned in the Magic Quadrants for Intelligent Business Process Management (iBPM), Enterprise Content Management (ECM), Customer Communication Management (CCM) and BPM-Platform-Based Case Management frameworks.

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com