The company's Rs 425-crore IPO was subscribed more than 8 times during January 16-18.
Newgen Software is a software products company offering a platform that enables organisations to develop applications addressing their strategic business needs.
Newgen Software's initial public offer (IPO) comprises fresh issue of shares worth up to Rs 95 crore by the company and an offer for sale of 13,453,932 equity shares by the existing shareholders.
SSJ Finance and securities has come out with its report on Newgen Software Technologies IPO , The research firm has recommended to “ Subscribe ” the IPO in its research report as on January 15, 2018.
The IPO, to raise about Rs 424 crore, comprises fresh issue of up to Rs 950 million by the company and an offer for sale by the selling shareholders.