Hexaware Technologies IPO GMP Remains Subdued Ahead Of Bidding; Check Price, Key Dates, Quota, Key Details – News18
Last Updated:
Hexaware Technologies IPO GMP: Unlisted shares of Hexaware Technologies Ltd are currently trading at Rs 716 apiece in the grey market, which is just 1.13 per cent premium over the upper IPO price of Rs 708.
Hexaware Technologies IPO.
Hexaware Technologies IPO GMP: The initial public offer of Hexaware Technologies Ltd is set to be launched on February 12. It will be closed on February 14. The price band of the 8,750-crore IPO has been fixed at Rs 674 to Rs 708 apiece. Ahead of the IPO, its GMP remains dismally low at 1.13 per cent, indicating a flat listing as of now.
Hexaware’s IPO would be the largest in the country’s IT services sector since Tata Consultancy Services’ over Rs 4,700-crore initial public offering over two decades ago. Hexaware’s previous promoter, Baring Private Equity Asia, delisted the company in 2020. Almost a year after the delisting, the Carlyle Group acquired Baring Private Equity Asia’s stake in the company in October 2021.
Hexaware Technologies IPO Key Dates
The Hexaware Technologies IPO will remain open for public subscription between February 12 and February 14. Its allotment will be finalised on February 17, while its listing will take place on both BSE and NSE on February 19.
Hexaware Technologies IPO Price & Lot Size
Its price band has been fixed at Rs 674 to Rs 708 per share. For retail investors, the minimum lot size for an application is 21. So, the minimum amount of investment required by retail investors is Rs 14,868.
The minimum lot size investment for small NII is 14 lots (294 shares), amounting to Rs 2,08,152, and for big NII, it is 68 lots (1,428 shares), amounting to Rs 10,11,024.
Hexaware Technologies IPO GMP
According to market observers, unlisted shares of Hexaware Technologies Ltd are currently trading at Rs 716 apiece in the grey market, which is just 1.13 per cent premium over the upper IPO price of Rs 708. It indicates a flat listing gain for investors on February 19.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Hexaware Technologies IPO Quota
The company has reserved half of the issue size for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Hexaware Technologies IPO: More Details
At the upper-end of the price band, the company has been valued at over Rs 43,000 crore.
The initial share-sale of the Mumbai headquartered company is 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.
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.
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).
The company manages its business through six operating segments — financial services, healthcare and insurance; manufacturing and consumer; Hi-tech and professional services; banking, and travel and transportation.
The IT company offerings encompass five broad services — Design & Build, Secure & Run, Data & AI, Optimize, and Cloud Services and delivers its services through AI-enabled digital platforms such as Rapid for digital transformation, Tensai for AI-powered automation and Amaze for cloud adoption.
Hexaware’s previous promoter, Baring Private Equity Asia, delisted the company in 2020. Almost a year after the delisting, the Carlyle Group acquired Baring Private Equity Asia’s stake in the company in October 2021.
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.
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.
