Newgen Software Technologies

MSH has launched schemes with total corpus of Rs 700 crore, intends to bring corporate and national start-up mentorship ecosystems on a single digital platform

PGIM India Mutual Fund (PGIM MF) and Abu Dhabi Investment Authority (ADIA) sold a total of 12.20 lakh shares of the software company, as per bulk deal data available with the National Stock Exchange

Newgen Software Technologies on Tuesday said its consolidated net profit increased about 35 per cent to Rs 47.8 crore in December quarter 2021-22. The company also announced the acquisition of Number Theory Software. Newgen registered a net profit of Rs 35.41 crore in December quarter 2020-21. Revenue from operations grew 9.1 per cent to Rs 202.5 crore in the third quarter of 2021-22 from Rs 185.51 crore in the year-ago period, Newgen said in a regulatory filing. In a separate filing, Newgen said its Board has approved the purchase of 100 per cent of the paid-up equity shares of Number Theory Software from its existing shareholders, Tarun Gulyani and Rajan Nagina. Post completion of the acquisition - which is subject to customary conditions precedent - the target company will become a wholly-owned subsidiary of Newgen, it added. "Newgen will be making a closing payment aggregating to approximately Rs 7,02,73,340 to the promoters of target company towards 100 per cent of the equity

The book building saw a strong demand and interest from marquee institutional investors, both domestic and international

Till 09:56 am, around 7.5 million shares, representing 10.7 per cent of the company's total equity, had changed hands on the BSE, the exchange data shows

.

Ebitda margin improved to 26.5 per cent from 5.9 per cent, due to strong cost rationalisation initiatives undertaken by the company

The stock hit a new high of Rs 346, up 13%, surging 51% in past one month after it reported a more-than-double consolidated net profit at Rs 178 million in September quarter.

The stock listed at Rs 253, a 3.3% premium over its issue price of Rs 245 per share on BSE