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Sensex, Nifty open at fresh Record high; Bank Index up nearly 600 pts By admin on Jan 18, 2018

The initial public offer of IT firm Newgen Software Technologies was subscribed 70 percent yesterday.

The IPO, which aims to raise Rs 425 crore, received bids for 85.54 lakh shares against the total issue size of over 1.22 crore scrips, registering a subscription of 70 percent, data available with the National Stock Exchange (NSE) showed.

The portion reserved for retail investors was subscribed 1.33 times, while that for qualified institutional buyers (QIBs) witnessed a subscription of 10 percent.

Newgen Software’s initial public offer (IPO) comprises a fresh issue of shares worth up to Rs 95 crore by the company and an offer for sale of 13,453,932 equity shares by the existing shareholders.

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