Hexaware Technologies IPO Day 1: Slow Start with 1% Subscription in First Hour

Hexaware Technologies IPO Day 1: The initial public offering (IPO) of Hexaware Technologies Ltd, an IT and AI services company, started with a slow response. As of 11:30 AM on the first day, the IPO was subscribed only 1%, as per BSE data.

Investors bid for 8,78,682 shares, compared to the total 9,14,23,354 shares available. The retail investor segment saw a 2% subscription with 7,37,877 shares, while non-institutional investors (NIIs) and qualified institutional buyers (QIBs) had yet to participate. The employee quota was subscribed at 5%, with bids for 70,056 shares.

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Hexaware IPO Price, Objective, and Closing Date

The IPO is set to close on February 14, offering shares at a price range of Rs.675-Rs.708 per share. The company aims to raise Rs.8,750 crore through this issue, primarily for re-listing on the BSE and NSE.

Valuation, Allocation, and Lot Size

At the upper price band, Hexaware Technologies is valued at over ₹43,000 crore. The entire IPO is an Offer for Sale (OFS) by its promoter, CA Magnum Holdings (a Carlyle Group entity), which holds a 95.03% stake in the company. Since it is a pure OFS, all proceeds will go to the selling shareholder, not the company.

• Retail investors: Minimum bid of 21 shares (Rs.14,868), up to 273 shares (Rs.1,93,284).
• Small HNIs: Minimum bid of 294 shares (Rs.2,08,152), up to 1,407 shares (Rs.9,96,156).
• Big HNIs: Minimum bid of 1,428 shares (Rs.10,11,024).

Hexaware IPO: Important Dates

• Allotment Date: February 17
• Refunds & Demat Credit: February 18
• Listing Date: February 19 (BSE & NSE)

About Hexaware Technologies

Hexaware Technologies is a global digital and technology services company serving 31 Fortune 500 companies across the Americas, Europe, and Asia-Pacific. It specializes in AI, cloud computing, automation, and data solutions. The company operates in six key sectors:

• Financial Services
• Healthcare & Insurance
• Manufacturing & Consumer
• Hi-Tech & Professional Services
• Banking
• Travel & Transportation

Hexaware's Delisting & Ownership History

Previously, Hexaware was owned by Baring Private Equity Asia and was delisted in 2020. In October 2021, the Carlyle Group acquired a controlling stake in the company.

The IPO's performance in the coming days will determine investor interest before its listing on February 19.

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