Meanwhile, the S&P BSE Sensex advanced 232.81 points or 0.65% to settle at 36,283.25.

Shares of Newgen Software Technologies got listed at Rs 253. The stock had hit a high of Rs 266.50 and low of Rs 249.95 in intraday trade. On the BSE, 22.99 lakh shares were traded on the counter.

The initial public offer (IPO) of Newgen Software Technologies had received bids for 10.07 crore shares. The IPO was subscribed 8.25 times. The IPO had opened on 16 January 2018 and closed on 18 January 2018. The company had fixed the price band of IPO at Rs 240 to Rs 245 per equity share.

Newgen Software Technologies reported a net profit of Rs 5.65 crore on sales of Rs 182.78 crore in half year ended 30 September 2017.

Newgen Software Technologies offers a platform to enable organizations to drive digital transformation of business processes such as automation of routine business functions, making them faster, easier and more accurate and increasing the channels or devices through which these functions can be performed.