Money Maker Research & Investment Advisor: Newgen Software launches Rs. 400 crore IPO on 16 January

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Wednesday, 10 January 2018

Newgen Software launches Rs. 400 crore IPO on 16 January

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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.

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