Marathon Edge India Fund I has bought Newgen Software Technologies’ shares worth Rs 69 crore through an open market transaction. Marathon Edge India Fund I purchased 20,00,000 shares, amounting to a 2.85 per cent stake in the company. The shares were acquired at an average price of Rs 345 apiece, taking the transaction value to Rs 69 crore.
Meanwhile, India Acorn ICAV and Al Mehwar Commercial Investments LLC combinedly offloaded 14,85,132 shares of the company at the same price.
Newgen Software Technologies is a software products company offering a platform that enables organisations to develop applications addressing their strategic business needs.
