Hindustan Times (Jalandhar)

New­gen IPO sub­scribed 19% on Day 1

- Business · Stocks & Markets · Investing · Financial Markets · Finance · Newgen Software Technologies Limited

MUM­BAI: The ₹424.6-crore ini­tial pub­lic of­fer­ing (IPO) of soft­ware prod­ucts maker New­gen Soft­ware Tech­nolo­gies Ltd re­ceived de­mand for 19% of the shares on of­fer on the first day of the sale on Tues­day. Ac­cord­ing to data from stock ex­changes, as of 5pm, the por­tion of shares re­served for re­tail in­vestors in the IPO was sub­scribed 32%. Those set aside for in­sti­tu­tional and non-in­sti­tu­tional in­vestors were sub­scribed 1% and 0.5%, re­spec­tively. New­gen has set a price band of ₹240-245 per share for the IPO. The of­fer will close on Jan­uary 18.

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