Newgen Software Technologies Limited has informed the Exchange about Awarding of order(s)/contract(s)
NEWGEN · price
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Awaiting price reaction for this filing.
Newgen Software Technologies has received and accepted a Purchase Order worth Rs. 73.12 Crore for a Scanning and Digitization Project. The project involves digitizing pending and disposed judicial and administrative records/files of an Hon'ble Court of a State on a turnkey basis. The order is domestic, with an execution timeline of 2 years. The company confirmed there is no promoter or related party interest in the awarding entity. The disclosure was made under SEBI Listing Regulations, indicating the order is considered material.
This is a sizable order from a State Court (government client) that strengthens Newgen's order book and provides revenue visibility over the next 2 years. Government/PSU orders of this size are typically viewed positively by the market and may support near-term sentiment on the stock.