Newgen Software Technologies promoters sell shares worth over Rs 335 crore

Three advertisers of Newgen Software Technologies Ltd on Tuesday offloaded shares worth over Rs 335 crore of the firm through open market exchanges. The offers sold by the advertisers — Diwakar Nigam, Priyadarshini Nigam and T S Varadarajan — address 10.55 percent stake of the organization.

Together, they sold 73.81 lakh portions of the firm at a normal cost of Rs 454 a unit, block bargain information on the BSE appeared. Diwakar Nigam offloaded shares worth Rs 126.47 crore, Priyadarshini Nigam Rs 63.51 crore and T S Varadarajan Rs 145.09 crore.

According to shareholding information for March 2021 quarter, Diwakar Nigam, Priyadarshini Nigam and T S Varadarajan held 26.41 percent, 11.39 percent and 21.46 percent stake, separately in the organization. As per separate square arrangements, MS Param Value Investment purchased portions of the firm for Rs 22.7 crore, Mukul Mahavirprasad Agrawal Rs 27.24 crore, Abu Dhabi Investment Authority Rs 75 crore and Societe Generale Rs 10.07 crore.

Additionally, Morgan Stanley Asia Singapore Pte and White Oak India Equity Fund II got shares in the organization worth Rs 10.7 crore each, White Oak India Select Equity Fund Rs 10.12 crore, Kuber India Fund Rs 49.98 crore and India Acorn Fund Ltd Rs 119.81 crore. The purchasers purchased the scrip at a cost of Rs 454 for each scrip.

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