Newgen Software Technologies Limited has restructured its top leadership with the appointment of Mr. Tarun Nandwani as Chief Executive Officer (CEO) and Key Managerial Personnel (KMP), effective from August 1, 2026. The Board of Directors approved the appointment for a term of 18 months, concluding on January 31, 2028, following the recommendation of the Nomination & Remuneration Committee. This decision follows the earlier resignation of Mr. Virender Jeet from the position of CEO, effective from the close of business hours on August 31, 2026.

New CEO: Tarun Nandwani

Mr. Nandwani, currently designated as the Chief Operating Officer, brings 33 years of experience at Newgen. He has played a pivotal role in shaping the company's platform vision, customer relationships, and global market presence. His tenure as COO contributed to significant expansion in revenue, profitability, and customer acquisition, while establishing strategic business lines including Trade Finance, Lending, and Payments.

Chief Growth Officer: Pramod Kumar

Concurrently, the Board appointed Mr. Pramod Kumar as Chief Growth Officer (CGO) and Key Managerial Personnel (KMP), effective from August 1, 2026. Mr. Kumar, formerly Vice President – Sales with the company's Singapore subsidiary, has 27 years of experience at Newgen. He led the rapid growth of the APAC business, increasing regional revenues from approximately ₹73 crore to ₹237 crore over five years, representing a CAGR of nearly 27%.

Vice Chairman: T. S. Varadarajan

In a separate strategic move, the Board designated Mr. T. S. Varadarajan as Vice Chairman of the company with immediate effect. Mr. Varadarajan, who co-founded Newgen in 1992, will continue to serve as Whole-time Director. He possesses 51 years of experience in software design and development and holds degrees from Bangalore University, the Indian Institute of Science, Bangalore, and IIT-Madras.

Appointments Summary

The following table summarises the key leadership changes approved by the Board:

Newgen Software Technologies Ltd has secured a significant order worth KWD 875,000 through its wholly owned subsidiary, Newgen Software Technologies LLC, for a core insurance system replacement project in Kuwait. The order, accepted on June 30, 2026, involves the replacement of a Policy Administration System (PAS) and includes licenses, implementation services, and five years of support. The contract is valued at approximately ₹26.70 crore based on a conversion rate of 1 KWD = ₹305.19.

The project was awarded by an overseas entity situated in Kuwait, though the customer's name remains confidential. The scope of work encompasses the complete replacement of the core insurance system, ensuring the client receives comprehensive support over a five-year execution period. This international order underscores the company's expanding footprint in the global insurance technology sector.

Key Order Details

The following table summarises the key parameters of the awarded contract:

Compliance and Disclosures

The company confirmed that the transaction does not qualify as a related party transaction under the provisions of the Companies Act, 2013. Furthermore, the promoters, promoter group, or group companies hold no interest in the entity that awarded the contract. The disclosure was made to the exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The event occurred on June 30, 2026, at 08:20 P.M. IST. The order acceptance follows the company's strategy to strengthen its presence in the Middle East and North Africa (MENA) region by delivering digital transformation solutions to the insurance sector.