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Last Updated : Jan 29, 2018 04:45 PM IST | Source: Moneycontrol.com

New Listing: Newgen Software ends 3% higher on Day 1

The stock had listed at Rs 256 on the National Stock Exchange.

 
 
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Market debutant Newgen Software Technologies ended the session at Rs 252.7, a little over 3 percent to its issue price of Rs 245.

The stock had listed at Rs 256 on the National Stock Exchange.

The stock price hit an intraday high of Rs 266.70 (up 8.85 percent) and low of Rs 246.25.

The Rs 425-crore initial public offer (IPO) of the IT firm was oversubscribed 8.25 times during January 16-18, 2018.

The IPO comprised of 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.

The company would use issue proceeds towards purchase and furnishing of office premises near Noida-Greater Noida Expressway in Uttar Pradesh and for other general corporate purposes.

Newgen Software is a software products company offering a platform that enables organisations to develop applications addressing their strategic business needs.
First Published on Jan 29, 2018 04:45 pm
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