- Price Band fixed at ₹674-₹708 per equity share of the face value of ₹1 each
- Anchor Investor Bidding Date – Tuesday, February 11, 2025
- Bid /Offer Opening Date – Wednesday, February 12, 2025, and Bid/ Offer Closing Date – Friday, February 14, 2025
- Bids can be made for a minimum of 21 Equity Shares and in multiples of 21 Equity Shares thereafter
- It plans expansion into Tier 2 cities and aims to open new centers in Ahmedabad.
NE BUSINESS BUREAU
AHMEDABAD, FEB 7
Private equity major Carlyle-owned software services firm Hexaware Technologies has fixed the price-band for its bumper ₹8,750-crore share sale at ₹674-708 per share. This is the largest ever-share sale in the domestic IT services & enterprise technology space. The share has a face value of ₹1 and the fully offer-for-sale issue will open on Wednesday, February 12, 2025. The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, being Tuesday, February 11, 2025. The Bid/ Offer Closing Date is Friday, February 14, 2025.
The IPO of Hexaware Technologies is entirely an offer-for-sale (OFS) of up to 12,35,87,570 equity
Bids can be made for a minimum of 21 Equity Shares and multiples of 21 Equity Shares thereafter.
The initial public offering comprises an offer for sale of Equity Shares aggregating up to ₹ 8,750 crores by CA Magnum Holdings.
The Navi Mumbai-headquartered Hexaware currently runs 61 offices worldwide across 19 countries and employs more than 31,000 serving its over 370 clients. Its focused on six operating segments –financial services, healthcare and insurance, manufacturing and consumer, hi-tech and professional services, banking, and travel and transportation.
Hexaware Technologies has major offshore delivery centers in India (Chennai, Pune, Bengaluru, Noida, etc.) and Sri Lanka. It plans expansion into Tier 2 cities and aims to open new centers in Ahmedabad.
Hexaware Technologies has reserved shares worth ₹90 crore for its eligible employees, who will get a discount of ₹ 67 per share in the IPO. It has reserved 50 per cent of the shares for qualified institutional bidders (QIBs), while non institutional investors (NIIs) will have 15 per cent for the allocations. Retail investors shall get 35 per cent of the reservation in the issue.
For the six months ended on September 30, 2024, Hexaware Technologies clocked net profit of ₹853.3 crore with a revenue of ₹ 8,594.2 crore. The company reported a net profit of ₹ 997.6 crore with a total revenue of ₹10,389.1 crore for the financial year ended on March 31, 2024. The company shall command a market capitalization close to ₹43,025 crore.
Shares of the company shall be listed on both NSE and NSE on Wednesday, February 19.
Kotak Mahindra Capital, Citigroup Global Markets India, JP Morgan India, HSBC Securities & Capital Markets and IIFL Securities are the book running lead managers of the Hexaware Technologies IPO, while Kfin Technologies is the registrar for the issue.
