This is to inform you that Newgen Software Technologies LLC, a wholly owned subsidiary of the Newgen Software Technologies Limited ( the Company ) incorporated in Dubai, has accepted a Letter of Award (LOA) from a customer for implementation of Business process management platform. The aggregate value of the LOA is KWD 1,736,052 (Kuwaiti Dinars One Million Seven Hundred Thirty-Six Thousand Fifty-Two Only).
NEWGEN · price
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Newgen Software Technologies LLC, a wholly owned subsidiary based in Dubai, has accepted a Letter of Award from a customer in Kuwait for implementing a Business Process Management platform. The contract is valued at KWD 1,736,052 (approximately ₹47–48 crore at current exchange rates) and covers software license, implementation services, and support services to be delivered over 2 years. The customer's identity has been withheld due to confidentiality. The company has confirmed this is not a related-party transaction and the order was awarded by an international (non-domestic) entity.
Positive for the stock — adds a meaningful export order in a hard currency (Kuwaiti Dinar) to the order book, with execution spread over 2 years. Reinances Newgen's international growth track record through its Dubai subsidiary, though the customer being unnamed limits near-term re-rating visibility.