India: Newgen Software raises $200m from anchor investors ahead of IPO

Photo: Livemint

Newgen Software Technologies Ltd, a software products company, on Monday said it had raised around Rs127.39 crore by selling shares to institutional investors as part of its anchor book allocation, a day before its initial public offering (IPO) opens.

Shares were allocated to nine investors at Rs245 apiece, the upper end of the price band of Rs240-245 for the Newgen IPO. Institutional investors that participated in the anchor book allocation include Goldman Sachs India Ltd, HDFC Trustee Co. Ltd, Forefront Alternative Investment Trust, Aditya Birla Sun Life Pvt. Ltd, BNP Paribas Arbitrage and SBI Mutual Fund, among others.

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