Newgen Software Technologies Limited has said
that it will launch an initial public offering (IPO) on 16 January to raise
over Rs. 400 crore. The company has fixed a price band of Rs. 240-245 per
share. The IPO comprises a fresh issue of shares worth Rs. 95 crore and an OFS
of 13.45 million shares by existing venture capital investors. The IPO closes
on 18 January. At the upper end of the price band, the offer will collectively bring
in the company and the exiting investors around Rs. 424.6 crore.
Venture capital investors sell their
stakes include Ascent Capital, IDG Ventures and SAP Ventures. Ascent Capital is
selling its entire 11.42% stake in Newgen, while IDG is selling 4.57% and SAP
Ventures’ 3.31%.
Investment banks ICICI Securities
Ltd, IDFC Bank Ltd and Jefferies India Pvt Ltd are managing the Newgen share
sale. Newgen Software Technologies’ IPO
will be the second initial share sale this year.
No comments:
Post a Comment
Note: only a member of this blog may post a comment.