 "Newgen Software")
Indian IT firm Newgen Software Technologies is planning to raise around Rs 4.5 billion through the initial public offer, which it expects to launch this month.
"We are financially doing very well and registering good growth year-on-year. The IPO is mainly to provide exit or monetisation opportunity to some of our existing investors who have been with us for very long time. Around Rs 950 million-1 billion of the total fund will be used for setting up a new office in Noida," Newgen Software MD Diwakar Nigam told PTI.
Newgen Software recorded consolidated revenues of Rs 4.33 billion for 2016-17 and
