Newgen Software Technologies Limited IPO

About Company

Incorporated in 1992, Newgen Software Technologies is Delhi-based Software Product Company. Newgen offers product and platform that enables organizations to rapidly develop powerful software applications. Company mainly offers products in ECM and BPM space. Company sells its products through direct sales and through its 300 strong channel partners globally.

Newgen Software has four patents registered in India and 27 outstanding patent applications in India and one outstanding patent application in the USA. Newgen has over 450 active customers in over 60 countries. These customers are served by over 265 employees.

Newgen Software has four patents registered in India and 27 outstanding patent applications in India and one outstanding patent application in the USA. Newgen has over 450 active customers in over 60 countries. These customers are served by over 265 employees.

Company financial

(Rs in millions)

Company Promoters

1.    Mr. Diwakar Nigam

2.    Mr. T.S. Varadarajan

Registrar to the issue

1.    Karvy computershare private limited

Lead Managers

1.    ICICI Securities Limited

2.    Jefferies India Private Limited

3.    IDFC Bank Limited

Objects of the Issue:

The Offer comprises a Fresh Issue by the Company and an Offer for Sale by the Selling Shareholders.

1. Offer for Sale

The Offer includes an Offer for Sale of 13,453,932 Equity Shares by the Selling Shareholders. Company will not receive any proceeds from the Offer for Sale by the Selling Shareholders.

2. Fresh Issue

The objects for which the Net Proceeds of the Fresh Issue will be utilized are as:

a. Purchase and furnishing of office premises near Noida-Greater Noida Expressway, Uttar Pradesh; and

b. General corporate purposes

Risk factors

1.    This being the first public issue of our Company, there has been no formal market for the Equity Shares.

2.      Investments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in the Offer unless they can afford to take the risk of losing their investment.