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Newgen Software Technologies Ltd has informed stakeholders that a Kuwait-based entity has withdrawn its tender for a Business Process Management Platform, valued at KWD 1,736,052, for which Newgen had earlier accepted a Letter of Award. The reason for withdrawal remains undisclosed, and Newgen plans to follow up with the entity.
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Newgen Software Technologies Ltd has issued a disclosure stating that a major international deal for the implementation of a Business Process Management (BPM) platform in Kuwait has been unexpectedly withdrawn. The company had accepted a Letter of Award (LOA) for this project in September 2025, with a commercial value of KWD 1,736,052. However, the Kuwaiti entity has now withdrawn its tender, and Newgen was not informed in advance of this decision.
Notable Updates:
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The Kuwait entity has withdrawn the tender for the BPM platform, despite Newgen having accepted the LOA.
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The value of the deal was KWD 1,736,052 (approx. $5.7 million), and the project was expected to be executed over two years.
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No reason for the withdrawal has been provided by the Kuwaiti entity.
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Newgen plans to take up the matter with the entity in the coming days to seek clarity.
Important Points:
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The deal was awarded to Newgen Software Technologies LLC, a Dubai-based subsidiary.
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The contract included software licensing, implementation, and support services.
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This development comes after a series of international wins for Newgen, reinforcing its global footprint.
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The company will assess the impact and initiate follow-up actions.
Sources: NSE Corporate Announcement, Investywise, Scanx Trade
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