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Last Updated : Jan 16, 2018 11:45 AM IST | Source: CNBC-TV18

Business can grow more than 20-25%: Newgen Software Tech

Software products company, Newgen Software Tech's Rs 425 crore initial public offering (IPO) opened today and will close for subscription on January 18th. In an interview with CNBC-TV18, Diwakar Nigam, CMD of Newgen Software Technologies spoke about the latest happenings in his company and sector.

CNBC TV18 @moneycontrolcom

Software products company, Newgen Software Tech's Rs 425 crore initial public offering (IPO) opened today and will close for subscription on January 18th. In an interview with CNBC-TV18, Diwakar Nigam, CMD of Newgen Software Technologies spoke about the latest happenings in his company and sector.

We are a software product company, not a service company, he said.

We sell our products in 60 countries, with over 450 active installations worldwide which include banks, insurance companies, BPOs, healthcare organizations and government, he added.

Clients also include private sector banks like ICICI Bank, Axis Bank, Yes Bank and IDFC Bank. They use it for things like loans, account opening, trade finance etc, said Nigam.

The company entered US market last year which contributes to 50 percent of total revenue and have 20 marquee customers in the US market, he further mentioned.

On growth he said, the business can grow more than 20-25 percent.

For full interview, watch accompanying video...
First Published on Jan 16, 2018 11:45 am
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