Delhi based Newgen software Technologies is going to make its first public market debut with a grand amount of Rs 500 crores.
About Newgen Software
Newgen Software, provides business process management, enterprise content management, customer communication management and case management solutions.
The strategy behind
It has appointed ICICI Securities and Jefferies as its lead book managers for the initial public offering (IPO).
The company is expected to file its DRHP with market regulator Securities and Exchange Board of India (SEBI) by early August.
It is yet unclear if private equity firm Ascent Capital and venture capital firm IDG Ventures India, the two backers of the company, will exit -completely or partially -during the process. Both investors have invested about $25 million in Newgen Software back in 2014.