Hexaware Technologies, a global leader in digital services, will launch its IPO on February 12, 2025. The offer opens with a price band of ₹674-708 per share, with a grey market premium indicating a slight premium over the issue price.
Hexaware Technologies, a global leader in digital and technology services, is set to launch its Initial Public Offering (IPO) on February 12, 2025, with the issue closing on February 14, 2025. The IPO aims to raise funds through a price band of ₹674 to ₹708 per share, with the final allocation details for anchor investors scheduled for February 11, 2025. The listing of Hexaware Technologies shares is expected to take place on February 19, 2025, on both the BSE and NSE platforms.
Hexaware Technologies, a company promoted by the US-based private equity firm Carlyle, offers a wide range of digital transformation services, including AI-driven solutions, cloud services, and data management. The company’s client base spans across various sectors, including Financial Services, Healthcare, Manufacturing, Hi-Tech, and Travel. With a strong focus on digital innovation, Hexaware delivers critical services that help businesses navigate the complexities of the digital age.
The Hexaware Technologies IPO consists solely of an offer-for-sale (OFS) by its promoter, CA Magnum Holdings, a part of the Carlyle Group. The IPO was initially set to raise ₹9,950 crore, but the revised amount is ₹8,750 crore. All proceeds from the offer will go directly to the selling stakeholder, CA Magnum Holdings, which owns a majority 95.03% stake in the company.
Grey Market Premium (GMP) Trends and Insights
As of February 10, 2025, the grey market premium (GMP) for the Hexaware Technologies IPO stands at ₹3.50, indicating that the shares are being traded at a slight premium compared to the issue price. This represents a 0.49% estimated increase from the upper price band of ₹708 per share, potentially leading to a listing price of ₹711.50 on February 19, 2025.
However, the grey market trends have been showing a downward trajectory over the past six sessions, with experts forecasting a possible decline in GMP in the coming days. The highest GMP observed during this period has been ₹19.00, while the lowest is ₹3.50, reflecting a more cautious investor sentiment.
IPO Details and Subscription Information
The Hexaware Technologies IPO is offering a 50% allocation for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for Non-Institutional Investors (NIIs). Eligible employees are also given a ₹67 per share discount under the employee reservation segment, with shares worth up to ₹900 million allocated for them.
The basis of allotment for the IPO will be determined on February 17, 2025, and refunds will be processed on February 18, 2025. Investors who receive allocations will have their shares credited to their demat accounts on February 18, with the official listing taking place on February 19, 2025.
Hexaware Technologies joins other prominent technology firms listed on the Indian stock market, with its peers in the sector including Persistent Systems, Coforge, LTIMindtree, and Mphasis, as outlined in its red herring prospectus (RHP).
This IPO marks a significant milestone for Hexaware Technologies as it seeks to further solidify its presence in the global IT services sector while providing investors with an opportunity to tap into the company’s growth story.
