Newgen Wins Rs 466 Million US Contract From Financial Major

According to the company’s regulatory filing, the deal includes annual software licensing fees, cloud hosting services, and other service-related charges. The contract was signed with a non-related international entity, and does not involve any promoter or group company interests.

Newgen clarified in its statement that the transaction does not qualify as a related party transaction under the provisions of the Companies Act, 2013.

This agreement highlights Newgen Software’s growing footprint in the US market, underscoring its ability to win large-scale contracts from major financial players. The two-year deal is expected to generate steady revenue for its American operations while strengthening its brand credibility in the global financial technology sector.

The contract was executed through Newgen Software Inc., the US subsidiary of Newgen Software Technologies, and is seen as a strategic step in expanding the company’s international business pipeline.