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Subscribe to Newgen Software Technologies IPO - IndiaNotes.com
Subscribe to Newgen Software Technologies IPO
Hem Securities | Published: 16 Jan, 2018  | Source : IndiaNotes.com
Investment Rationale

According  to  the  Ovum  Report,  co’s  core  addressable  market (i.e. global ECM, BPM and CCM markets) were estimated at USD 14,935  million,  USD  6,100  million  and  USD  1,460  million,  respectively  in  2017.  Co  have  expanded  its  addressable  market by developing solution frameworks in its  key verticals including  banking,  government/PSU,  BPO/IT  and  healthcare.   As  of September  30,  2017,  co  had  over  450  active  customers  (invoiced in the last 12 months) in over 60 countries. Some of co’s key active customers include Trust Company of America, Mercantil Bank, ICICI Bank, Trafigura, Bajaj Electricals, United Arab Bank, National Commercial Bank Jamaica, Axis Bank, Yes Bank, Kotak  Mahindra  Bank,  Bank  Islam  Brunei  Darussalam,  Philippines  Resource  Saving  Bank,  ICICI  Prudential  Life  Insurance,
Reliance General Insurance, Max Life Insurance, Strides Shasun and Shriram Transport Finance. Co’s  enterprise-wide, missioncritical solutions have been used by some of the leading global businesses  in  various  sectors  including  banking,  government/PSUs, BPO/IT, insurance and healthcare.

Valuation

The co is bringing the issue at p/e multiple of 33 on FY17 eps of Rs 8.26  at  higher  price band of Rs 240-245/share.  Looking after financials of co we recommend “Long Term Subscribe” on it.   Read full report Click here to read the full report


About Hem Securities
The Hem Securities is one of the leading broking Network in India. It provides trading platform in all the leading exchanges namely - BSE, NSE, MCX , NCDEX & MCX-SX. Their mission is to build wealth for their investors by offering them best financial services through trading & investment strategies and honoring commitment with ethical & transparent business practices.

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