Newgen Software Secures USD 2.22M Contract with Kuwaiti Bank
Filing Summary
Newgen Software Technologies Limited’s subsidiary, Newgen Software Technologies L.L.C., has signed an agreement with a leading bank in Kuwait. The contract, valued at USD 2.22 million, involves software license, implementation, and product software support. The agreement covers solutions for corporate finance origination, retail finance origination, and customer communication management. The contract is set to be executed over a period of two years. This transaction does not constitute a related party transaction under the Companies Act, 2013.
Newgen Software Technologies Limited, through its wholly owned subsidiary Newgen Software Technologies L.L.C. in Dubai, has executed an agreement with a leading bank in Kuwait. The agreement, dated 15th March 2026, is valued at USD 2.22 million and involves the provision of software license, implementation, and product software support.
The contract encompasses solutions for Corporate Finance Origination (Islamic), Retail Finance Origination (Islamic), and Customer Communication Management System. The project is scheduled for completion over a period of two years. The name of the bank has been withheld due to confidentiality reasons.
This order is classified as an international contract, with the counterparty located in Kuwait. The transaction does not fall under the definition of a related party transaction as per the Companies Act, 2013. The financial consideration for this contract is converted to approximately INR 20.54 crore.
The disclosure of this material event is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The occurrence of this event was recorded on 15th March 2026 at 04:02 PM IST.
Newgen Software Technologies Limited specializes in providing software solutions for business process management, enterprise content management, and customer communication management. The company focuses on delivering innovative solutions to enhance business efficiency and customer engagement.