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.

Newgen Software Technologies Limited promoter Diwakar Nigam confirmed that he and persons acting in concert did not create any fresh encumbrance on equity shares during the financial year ended March 31, 2026. The declaration ensures that the promoter's holding remains free from new charges or pledges for the specified period, providing stability regarding the ownership structure disclosed to the exchanges.

The disclosure was submitted to BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation mandates promoters to report any encumbrance on shares to maintain transparency in ownership and prevent hidden liabilities.

Nigam explicitly stated that no encumbrance was made directly or indirectly other than those already previously disclosed to the stock exchanges. The confirmation covers the entire financial year, reassuring investors of no adverse changes in the status of the promoter's pledged holdings during this time.

The communication was addressed to the stock exchanges on April 06, 2026, and copied to the Audit Committee of Newgen Software Technologies Limited for their records and review.