Newgen Software Technologies Limited has informed the Exchange about revised Disclosure of material event/ information with reference to our earlier disclosure dated 12th May 2025
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Newgen Software Technologies has submitted a revised disclosure regarding a contract executed by its wholly-owned Saudi Arabian subsidiary on 12th May 2025, after NSE sought additional details under SEBI's July 2023 circular. The contract is international in nature and covers a Master Service Agreement, Annual Technical Support (ATS), and an End User License Agreement for Newgen's software and related services. The contract is valued at USD 1.632 million with a one-year execution period. The company has confirmed that promoter/promoter group companies have no interest in the awarding entity and that the transaction is not a related party transaction.
This is a modest-sized international order (about ₹13-14 crore equivalent) for the company's Saudi subsidiary, demonstrating continued overseas business traction. While not transformative in scale, it reinforces Newgen's international growth story and could have a mildly positive sentiment effect on the stock.