Hexaware Technologies Ltd has set a price band of Rs 674-708 per share for its upcoming initial public offering (IPO), which will open for subscription on February 12.
The anchor bidding process is scheduled to commence on February 11, while the issue will close on February 14. The basis of allotment will be determined on February 17, followed by refunds and credit of equity shares on February 18. The stock is set to debut on the exchanges on February 19.
The IPO will be an entirely offer-for-sale (OFS) of shares worth Rs 8,750 crore by promoter CA Magnum Holdings, a subsidiary of Carlyle Group Inc, a leading US multinational investment firm. The OFS size has been revised down from the earlier proposed Rs 9,950 crore. CA Magnum currently holds a 95.03 percent stake in Hexaware.
Hexaware operates across six key segments—financial services, healthcare and insurance, manufacturing and consumer, Hi-Tech and professional services, banking, and travel and transportation.
Its profit and revenue grew by 12.8 percent in FY24 to Rs 997.6 crore and Rs 10,380.3 crore, respectively, compared to the previous fiscal. For the first half of FY25, profit rose by 6 percent to Rs 853.3 crore, while revenue increased by 13.6 percent to Rs 8,820 crore, compared to the same period last year.
The IPO is being managed by Kotak Mahindra Capital Company, Citigroup Global Markets India, JP Morgan India, HSBC Securities and Capital Markets (India), and IIFL Capital Services, who are acting as the book-running lead managers.
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