1:1 Bonus Share Approved: Mid Cap IT Stock Fixes Record Date, Soars 270% In 1-Yr

Board of directors of mid cap IT software company Newgen Software on Monday recommended issue of bonus share in the proportion of 1:1 implying shareholders will be eligible to receive 1 bonus share for every 1 share held as on the record date. The board of directors fixed January 12, 2024 as the record date for the purpose.

Meanwhile, the last trading price of Newgen Software share BSE is Rs 1269.15 apiece with intraday dip of 2.42%. Newgen Software shares offered shareholders attractive return of 270% in just 1-year time. Check details below:

Newgen Software Recommends Bonus Share, Sets Record Date: According to the BSE filing of the company issued as on November 27, 2023, "recommended the issue of Bonus Shares in the proportion of 1:1 i.e. 1 (One) new fully paid-up bonus equity share of Rs.10/- (Rupees Ten only) each for every 1 (One) existing fully paid-up equity share of Rs.10/- (Rupees Ten only) each held by the Members of the Company as on the Record Date, subject to approval of the Members through Postal Ballot.

Newgen Software Sets Record Date: The Board has fixed Record Date for reckoning eligible Members of the Company entitled to receive bonus shares, as stated below:
Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Friday, 12th January 2024 as the Record Date, for the purpose of ascertaining the eligibility of Members entitled for issuance of Bonus Shares in the proportion of 1 (One) Equity Shares of Rs. 10/-each for every 1 (One) existing Equity Shares of Rs. 10/- each.

Newgen Software Approves Increase In Authorized Share Capital of the Company: The company also considered and approved the increase in Authorized Share Capital of the Company from Rs.110,10,00,000/- (Rupees One Hundred Ten Crore and Ten Lakh only) to Rs. 180,10,00,000/- (Rupees One Hundred Eighty Crore and Ten Lakh only) and consequent amendment to the Capital Clause of the Memorandum of Association of the Company, subject to approval of Members of the Company through Postal Ballot.

Newgen Software Stock Performance & Return Over Years: The stock's 52-week high price is Rs 1369.90 per share and 52-week low price is Rs 329.00 per share, respectively. Newgen Software shares gained 37% in last 3-months, soared 106% in last 6-months, gained 270% in last 1-year, and offered return of 371% in last 3-years. In last 5-years, Newgen Software shares gained 293%.

Newgen Software Technologies Recent Financial Results: The company for the quarter ended September 2023 declared a surge of 29.7% in its revenue from operations to Rs 293 crore as against Rs 226 crore declared in the corresponding quarter of last year. Newgen's EBITDA rallied 59.3% YoY to Rs 57.2 crore for the quarter under consideration. Its margins bettered 290 basis points to 19.5%. "Upon the sanction becoming effective from the appointed date i.e. 01.04.2022 as provided under the Scheme, NTSPL stands dissolved without undergoing the process of winding up," the company said.

About: Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen's industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud, according to its official website.

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