Issue Open: Jan 16 – Jan 18, 2018
Price Band: Rs. 240 – 245
Issue Size: 17,331,483 Equity Shares
Face Value: Rs 10
Book value: Rs 42.67 (Sep 30, 2017)
Bid size : - 61 equity shares and in multiples thereof
100% Book built Issue
Background & Operations:
Newgen Software Technologies Ltd (NSTL) is a software products company offering a platform that enables organisations to rapidly develop powerful applications addressing strategic business needs. The applications created on its platform enables organisations to drive digital transformation and competitive differentiation. This may include automation of routine business functions making them faster, easier and more accurate and increasing the channels or devices through which these functions can be performed. Its customers uses platform to rapidly design, build and implement enterprise-grade custom applications through intuitive, visual interface with minimal coding
Objects of Issue:
- The Offer comprises a Fresh Issue by NSTL and an Offer for Sale by the Selling Shareholders.
The Offer for Sale
- The Selling Shareholders will be entitled to the proceeds of the Offer for Sale of their respective portion of the Equity Shares after deducting their portion of the Offer related expenses and relevant taxes thereon. NSTL will not receive any proceeds from the Offer for Sale.
The Fresh Issue
- The Net Proceeds from the Fresh Issue are proposed to be utilised towards the following objects:
- Purchase and furnishing of office premises near Noida-Greater Noida Expressway, Uttar Pradesh; and
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- General corporate purposes. Further, NSTL expects that the listing of the Equity Shares will enhance visibility and brand image among its existing and potential customers.