Newgen Software Technologies Limited has informed the Exchange about Bagging/Receiving of orders/contracts

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NEWGEN · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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+9.5%1-day move

₹403.55

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₹431.50

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AI summary

Newgen Software Technologies' US subsidiary, Newgen Software Inc., has entered into a 3-year agreement with an insurance company based in Illinois, USA. The contract is valued at USD 1,609,400 (approximately INR 15.12 crore) and covers annual software license fees, cloud hosting services, and professional service fees. The customer name is withheld due to confidentiality reasons. The company has confirmed this is not a related party transaction. The order was disclosed under SEBI Regulation 30 for material events.

Likely market impact

This is a positive development as it demonstrates Newgen's ability to secure international deals in the insurance sector. The deal size (approximately INR 15 crore) represents a modest but meaningful addition to the company's revenue pipeline, though it is not large enough to materially impact near-term financials.