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Newgen Software Technologies IPO to open on Jan 16

Press Trust of India  |  New Delhi 

IT firm Technologies will launch its initial public offer (IPO) on January 16 as it looks to raise over 400 crore from the market.

The company has fixed a price band of 240-245 per share.

"The IPO comprises fresh issue of up to 95 crore by the company. Besides, existing shareholders -- SAP, IDG Ventures and -- will exit post the IPO. They will get about Rs 325 crore," Technologies told reporters here.

He added that the offer for sale consists of up to 1,34,53,932 shares, which will open on January 16 and close on January 18.

Securities and Jefferies are the global co- ordinators and book running lead managers to the offer. is the book running lead

The of Technologies are proposed to be listed on and

Set up in 1992, Newgen offers business process management software across sectors like banks, organisations,

It gets about 40 per cent of its revenues from India, 27 per cent from Middle East, and 26 per cent from the US.

Its revenue stood at Rs 433.7 crore in financial year 2016-17, while net profit for the same was Rs 52.3 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 11 2018. 17:25 IST