Newgen Software to debut on bourses on Monday

IT firm Newgen Software Technologies, which recently concluded its initial public offer (IPO), will make its stock market debut on Monday.

The Rs 425-crore IPO was subscribed more than 8 times during January 16-18.

The price band for the offer was fixed at Rs 240-245 per share.

Proceeds from the issue will be utilised towards purchase and furnishing of office premises near Noida-Greater Noida Expressway in Uttar Pradesh and for other general corporate purposes.

ICICI Securities, Jefferies India and IDFC Bank were the book running lead managers to the offer.

Newgen Software is a software products company offering a platform that enables organisations to develop applications addressing their strategic business needs.