 "IPO, IPOs")
The Rs 4.2 billion-IPO of Newgen Software Technologies garnered 8.2 times subscription on Thursday, the last day of the issue. The institutional portion of the IPO saw nearly 16 times more demand than shares on offer. High net-worth individual (HNI) and retail portion of the IPO were subscribed five times each. The IPO comprised of a fresh issue fundraising worth Rs 950 million and offer for sale (OFS) worth Rs 3.29 billion.
The IPO proceeds will be used to set up an office near Delhi. The price band for the IPO was Rs 240 to Rs 245 per share.
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