Deals30 Jun 2026, 11:00 pm
Newgen Software Subsidiary Secures ₹26.7 Cr Order in Kuwait
AI Summary
Newgen Software Technologies LLC, a wholly-owned subsidiary in UAE, has received a Letter of Award from an overseas entity in Kuwait for a core insurance system replacement project. The aggregate value of the order is KWD 875,000, approximately ₹26.70 crore. The contract includes licenses, implementation services, and five years of support, with execution expected over five years. The customer's name is withheld due to confidentiality. This international deal does not involve any interest from Newgen's promoters or promoter group.
Key Highlights
- Subsidiary secured a significant international order valued at KWD 875,000 (approx. ₹26.70 Cr).
- The order is for a core insurance system replacement project in Kuwait.
- Contract includes licenses, implementation, and five years of support.
- Execution timeline for the project is five years.
- No promoter interest in the awarding entity; not a related party transaction.
Price Impact
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