Newgen Software Technologies May Also Launch IPO:
Newgen Software Technologies Ltd is likely to file its draft red herring prospectus in the next few weeks for its Initial public offer (IPO) with an expected issue size of about Rs.500 crore.
According to the news report, the Delhi-based company, has appointed ICICI Securities and Jefferies as its lead book managers for the anticipated initial public offering.
Newgen Software Technologies is backed by private equity firm Ascent Capital and venture capital firm IDG Ventures India, however, it was not clear if the two investors will exit through this IPO.
In 2014, Ascent Capital and IDG had picked up a 12% and 6% stake in the company, respectively.
In 2008, enterprise software maker SAP’s venture capital arm had invested $2.37 million for a 3.54% stake in the company.
Newgen earned a net profit of Rs 28.7 crore on net sales of Rs 346 crore in 2015-16.
The company provides business process management, enterprise content management, customer communication management and case management solutions. The company is coming to the capital markets at times when the benchmark indices, Nifty and Sensex have been trading at their record levels and lots of positive sentiments have been floating in the market.
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Au Financiers Ltd (AUFL) IPO also able to list successfully and gave its investors over 51% listing gains.
Now Salasar Techno Engineering Ltd IPO (STEL IPO) bidding completed successfully on July 17, 2017. Now Salasar Techno Engineering IPO Allotment and Listing will be in process.
Current Grey Market Premium (GMP) Of Salasar Techno Engineering Ltd (STEL) IPO is trading at Rs 85 – Rs 87 per equity share.
While Cochin Shipyard Ltd IPO (CSL IPO) is expected to hit market in first week of August 2017.
Some SME IPO will also be active in market in coming week.
Keep watching this blog to keep yourself updated with all the news.
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