India's Newgen Software $67 million IPO subscribed 8 times

(Reuters) - Indian IT services provider Newgen Software Technologies Ltd's initial public offering (IPO) of shares to raise up to 4.25 billion rupees ($66.6 million) was subscribed more than eight times on the last day of the sale on Thursday.Investors bid for almost 100 million shares, or 8.

2 times the 12.2 million shares on offer, stock exchange data as of 1305 GMT showed.Newgen was selling new shares to raise 950 million rupees, while its shareholders were selling 13.5 million shares in a price range of 240-245 rupees a share.ICICI Securities,.....

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