Newgen Software Technologies Limited, through its wholly owned subsidiary in the USA, has announced a major business win. The company has successfully executed two Statement of Work (SOW) contracts with a client, marking a significant milestone in its global expansion strategy.
Key Highlights of the Agreement:
Contract Value: The total value of the awarded SOW contracts stands at USD 1,675,000.
Client Location: The contract has been secured from an international entity.
Duration: The agreement is set to be executed over a period of five years.
Promoter Interest: The company has confirmed that there is no promoter or promoter group interest in the awarding entity.
This disclosure, made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlights Newgen Software’s commitment to transparency and governance. The company has also clarified that this transaction does not fall under the category of related party transactions as per the Companies Act, 2013.
Timing of the Disclosure:
Event Occurrence (USA): March 31, 2025, at 04:30 PM (EST)
Event Occurrence (India): April 1, 2025, at 02:00 AM (IST)
Implications for Newgen Software
This deal is expected to strengthen Newgen Software’s market presence and reaffirm its position as a key player in enterprise digital transformation. Securing long-term international contracts highlights the company’s ability to deliver value-driven solutions that meet the evolving needs of global enterprises.
Investors and stakeholders will be keenly observing how this deal impacts Newgen’s financials and growth trajectory in the coming quarters. Given the scale and duration of the contract, this could serve as a catalyst for further international expansions and strategic collaborations.
Market Reaction
Shares of Newgen Software Technologies were trading 0.62% lower at ₹962 on Tuesday, April 1, 2025.
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