Newgen Software Technologies will launch its Initial Public Offer (IPO) to raise about Rs 424 crore. The issue will open on January 16 and will close on January 18. It has fixed a price band of Rs 240-245 per share. The shares of the company are proposed to be listed on NSE and BSE.
The IPO comprises fresh issue of up to Rs 950 million by the company and an offer for sale by the selling shareholders. The offer for sale consists of up to 1,34,53,932 shares.
ICICI Securities and Jefferies India are the global coordinators and book running lead managers to the offer. IDFC Bank is the book running lead manager to the offer.
Newgen Software Technologies is a software products company offering a platform that enables organisations to develop applications addressing their strategic business needs.