Incorporated in 1992, Newgen Software Technologies Limited (NSTL) is a New Delhi based IT company and a global provider of Business Process Management (BPM), Enterprise Content Management (ECM), Customer Communication Management (CCM), Document Management System (DMS), Workflow and Process Automation. NSTL has 450+ active customers, with clients spread over 60 countries. The company sells its products to banks, insurance firms, BPOs and healthcare organizations. It has offices in the US, Canada, the United Kingdom, Singapore, and Dubai.
NSTL is a software product company providing a platform that enables organisations to rapidly develop powerful applications addressing their strategic business needs. The applications created on its platform enable organisations to drive digital transformation and competitive differentiation.
It has been recognized by Gartner, the world's leading information technology research and advisory company, in their Magic Quadrant research
Valuation
NSTL has reported a CAGR of 20.7% and 9.1% on revenue and net profit fronts respectively over FY2013-2017. On its upper band of price of Rs 245, the issue is priced at PE ratio of 30.6x of its FY2017 EPS of Rs 8.0. We believe that the IPO is fairly priced leaving a room for upside. Hence, we recommend to Subscribe the IPO.
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