Newgen Software makes quiet debut; ends at 3% premium against issue price

The stock listed at Rs 253, a 3.3% premium over its issue price of Rs 245 per share on BSE

Newgen Software Technologies made a quiet debut by listing at Rs 253, a 3.3% premium over its issue price of Rs 245 per share on BSE. It moved higher to Rs 267 after its listing.

The stock ended at Rs 253 with around 890,000 shares changing hands on BSE.

The initial public offer (IPO) of Newgen Software Technologies was subscribed by 8.25 times. The IPO to raise Rs 4.25 billion received bids for 101 million shares against the total issue size of 12.21 million shares.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 15.62