Hexaware Tech's Rs 8,750-crore IPO to open on Wednesday; GMP, price band, other key things to know ahead of subscription

Hexaware Tech IPO will open for public subscription on February 12.

Hexaware Technologies initial public offer (IPO) will open for public subscription in the primary market this week. Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, JP Morgan India Private Ltd, HSBC Securities and Capital Markets (India) Private Ltd and IIFL Securities Ltd are the book-running lead managers responsible for managing the company's IPO.

Here are key details to know ahead of the issue opening:

1) Hexaware Tech Price Band: The Mumbai headquartered company has fixed the price band for the issue at Rs 674 to Rs 708 per share.

2) Issue Size: Private equity major Carlyle Group-backed Hexaware Technologies Ltd's total issue size is Rs 8,750-crore.

3) Hexaware Tech IPO Dates: The IPO will open for public subscription during February 12 to 14. The bidding for anchor investors will open for a day on February 11.

4) Company Valuation: At the upper-end of the price band, the company has been valued at over Rs 43,000 crore.

5) IPO Details: It's a complete Offer-for-Sale (OFS) of Rs 8,750 crore by promoter CA Magnum Holdings, part of Carlyle Group. At present, CA Magnum Holdings holds 95.03 per cent stake in the IT company.

6) IPO Proceeds: Since the entire issue is an OFS, all the proceeds from the IPO will go directly to the selling shareholder, rather than to the company.

7) Largest IPO in IT Services: Hexaware's maiden public issue would be the largest in country's IT services sector since Tata Consultancy Services' over Rs 4,700-crore initial public offering over two decades ago.

8) About the Company: Hexaware Technologies is a global digital and technology services company with artificial intelligence (AI) at its core and having a diverse range of customers, including 31 of the Fortune 500 organizations. It serves customers across the Americas, Europe and Asia-Pacific (including India and Middle East).

9) Hexaware Tech IPO GMP Today Price: According to market observers tracking the grey market premium activities, the shares of the company are commanding a flat GMP.

10) Key financials: For the nine months ended September 2024, the company's net profit stood at Rs 853.3 crore and revenues at Rs 8,820 crore.

Hexaware Tech IPO shares will be listed on BSE and NSE on 19th February, while the allotment is likely to take place on 17th February.

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