|Industry||Business Process Management, Enterprise Content Management|
|Headquarters||New Delhi, India|
|Diwakar Nigam (CEO)|
Newgen Software Technologies Limited is now a Public Limited IT company headquartered in New Delhi, India. Newgen Software Technologies Ltd, a software products company, on Monday said it had raised around INR127.39 crore by selling shares to institutional investors as part of its anchor book allocation, a day before its initial public offering (IPO) opens.
Shares were allocated to nine investors at INR250 apiece, the upper end of the price band of INR240-245 for the Newgen IPO. Institutional investors that participated in the anchor book allocation include Goldman Sachs India Ltd, HDFC Trustee Co. Ltd, Forefront Alternative Investment Trust, Aditya Birla Sun Life Pvt. Ltd, BNP Paribas Arbitrage and SBI Mutual Fund, among others.It had investors namely SAP Ventures (now Sapphire Ventures), Ascent Capital & IDG Ventures before filing of its IPO at SEBI. Earlier, its investors were SAP Ventures & HSBC Private Equity (now Headland Capital). It primarily focuses on Business Process Management, Enterprise Content Management. It also has services for Customer communications management, Document Management Systems and Workflow and Process Automation. According to industry analyst firm Forrester Research, Newgen is a strong performer in ECM space. Newgen has been featured in Ovum Decision Matrix, 2011. Its BPM/ECM suite includes OmniScan, OmniDocs, OmniFlow and iBPS.
Newgen was founded by Diwakar Nigam, its current CEO, in 1992 as his second attempt at starting a business. Newgen's first major deal was providing document processing software to digitise paper documents for Canon Inc., which licensed it, and partnered with Citibank India.
In 2014, its revenue was 52 million USD. In April 2015, Newgen partnered with Data Communications Ltd. to expand its services in Mauritius, and to serve as a bridge to Africa as part of its expansion strategy. In 2015, Business Today ranked Newgen as the best small/medium enterprise overall and for services.
In May 2016, Newgen released its NEMF app, an enterprise-grade mobile capture app that was developed in partnership with Microsoft India. It offers geolocation, image capture, editing tools, and task management capabilities on mobile devices.
The company motto is "One World, One Workplace". Currently motto has been changed to "Reinvent Your Workplace".As of June 2017, it employed 2200 people worldwide and has offices in India, Singapore, the United Arab Emirates, Canada, United Kingdom and the United States.
Newgen has applied for IPO in September 2017 with Securities and Exchange Board of India (SEBI), which was approved by the later on 13 November 2017. From the proceeds, the company is planning to purchase and furnish office premises within India and abroad.
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