 Hexaware Technologies IPO, promoted by Carlyle, opens on February 12 and closes on February 14, with a price band of ₹674-708. Allocation details for anchor investors will be available on February 11. Listing on BSE and NSE is expected on February 19.
Hexaware Technologies IPO GMP:
Carlyle-endorsed The initial public offering (IPO) of Hexaware Technologies is set to start on Wednesday, February 12, and end on Friday, February 14. On Tuesday, February 11, the Hexaware Technologies IPO’s anchor investor allocation information will be released. The pricing range for Hexaware Technologies’ initial public offering (IPO) has been set between ₹674 and ₹708 per equity share with a face value of Re 1. The (IPO) lot size for Hexaware Technologies is 21 equity shares, with subsequent multiples of 21 equity shares.
Hexaware Technologies, a global company specializing in digital and technological services with an AI foundation, has been supported by the US private equity firm Carlyle. In six sectors that correspond with the industries they serve—financial services, healthcare and insurance, manufacturing and consumer goods, hi-tech and professional services, banking, and travel and transportation—the company uses technology to provide innovative solutions that assist their clients in managing digital transformation and effectively overseeing their business operations.
The core of their services comprises five main categories: Design & Build, Secure & Run, Data & AI, Optimize, and Cloud Services.
The red herring prospectus (RHP) states that Persistent Systems Ltd., with a P/E ratio of 84x, Coforge Ltd., with a P/E of 64x, LTIMindtree Ltd., with a P/E of 38x, and Mphasis Ltd., with a P/E of 34x, are similar listed peers of the firm.
In its public offering, Hexaware Technologies has set aside a minimum of 35% of the shares for retail investors, at least 15% for non-institutional investors (NII), and no more than 50% of the shares for qualified institutional buyers (QIB). With equity shares worth up to ₹900 million reserved for them, eligible employees taking part in the employee reservation segment are being given a discount of ₹67 per share.
Refunds are anticipated to begin on Tuesday, February 18, when the allocation basis for Hexaware Technologies IPO shares is decided on Monday, February 17. On the same day the reimbursements are completed, the shares will be deposited to the allottees’ demat accounts. On Wednesday, February 19, Hexaware Technologies’ shares will be listed on the BSE.
Today’s IPO GMP for Hexaware Technologies is +8. According to investorgain.com, the share price of Hexaware Technologies was selling at a premium of ₹8 on the grey market.
The expected listing price of Hexaware Technologies shares is ₹716 per share, which is 1.13% higher than the IPO price of ₹708, considering the top end of the IPO pricing band and the existing premium on the grey market.
Today’s IPO GMP is on a negative trend and is expected to continue to decrease based on the gray market patterns over the last five sessions. According to specialists at investorgain.com, the lowest recorded GMP is ₹8.00, while the highest GMP is ₹19.00.
Investors’ willingness to pay more than the price is shown by the “grey market premium.”
Hexaware Technologies IPO details:
An offer-for-sale (OFS) of shares priced at ₹8,750 crore is the sole component of the Hexaware Technologies IPO. The promoter, CA Magnum Holdings, is a subsidiary of the Carlyle Group Inc., a multinational company headquartered in the United States. The OFS’s size has been reduced from the ₹9,950 crore previously indicated in the draft documents that were turned in on September 6, 2024.
Therefore, promoter CA Magnum Holdings, the selling stakeholder, will get the entire IPO proceeds (except from offer-related expenditures). The public owns the remaining corporation shares, with CA Magnum holding a 95.03 percent ownership position.
The offering’s book-running lead managers include HSBC Securities and Capital Markets (India), Citigroup Global Markets India, JP Morgan India, Kotak Mahindra Capital Company, and IIFL Capital Services.
Hexaware Technologies IPO Dates:
- IPO Open Date: February 12, 2025
- IPO Close Date: February 14, 2025
- Basis of Allotment: February 17, 2025
- Refunds: February 18, 2025
- Credit to Demat Account: February 18, 2025
- IPO Listing Date: February 19, 2025
