This is with reference to our earlier disclosure dated 30th September 2025 regarding acceptance of a Letter of Award (LOA) for implementation of a Business Process Management Platform, received from an overseas entity situated in Kuwait, having a commercial value of KWD 1,736,052/- (Kuwaiti Dinars One Million Seven Hundred Thirty-Six Thousand Fifty-Two Only).This is to inform you that the entity has withdrawn its tender issued for providing the Business Process Management Platform.The reason for tender withdrawal has not been disclosed by the entity. Newgen had not received any prior communication regarding this withdrawal and will be taking up this matter with the entity in the coming days.
NEWGEN · price
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Newgen Software informed exchanges that an overseas entity in Kuwait has withdrawn its tender for which the company had received a Letter of Award on September 30, 2025. The cancelled order was for implementing a Business Process Management Platform valued at KWD 1,736,052 (approximately ₹46–47 crore based on prevailing exchange rates). The Kuwaiti entity did not disclose any reason for the withdrawal, and Newgen stated it had no prior intimation. The company said it will take up the matter with the entity in the coming days.
This is a negative development for Newgen as it loses a sizeable export order in a hard currency market. Near-term revenue expectations from this Kuwait engagement will need to be reassessed, and the stock may see mild pressure unless the company secures a replacement contract. Investors should watch for further updates on whether the matter is resolved or if the order is formally re-awarded.