Hexaware Technologies IPO is set to open for subscription tomorrow, February 12, with a total issue size of Rs 8,750 crore. If you are considering investing, here are eight key things you need to know before subscribing the issue.
Hexaware Technologies IPO: Subscription timeline
A mainboard public issue, the IPO will open its window for bidding from February 12 to February 14. Anchor investors can place bids a day earlier on February 11.
After the bidding process, the allotment of shares is expected to be finalised on February 17 and is set to listed on Indian bourses – BSE and NSE on February 19.
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Hexaware Tech IPO: GMP trend
As of the latest trend, ahead of the opening of the issue tomorrow, Hexaware’s IPO is commanding a flat GMP in the grey market.
The shares are trading at flat at Rs 3.5 per share in the grey market which indicates of an estimated listing price of Rs 711.5 per share. This suggest a 0.49% higher over the issue’s upper price band of Rs 708 per share.
Hexaware Tech IPO: Price band and OFS
The price band of the issue by the company has been set between the range of Rs 674 to Rs 708 per share.
The entire Rs 8,750 crore issue is an offer for sale (OFS) by CA Magnum Holdings, which is backed by Carlyle Group.
As it is an OFS, no fresh capital will be raised for the company. Instead, all proceeds will go to the selling shareholders.
Hexaware Tech IPO: Minimum investment and lot size
The minimum lot size for retail investors is 21 shares.
Retail investors can start with a minimum investment of Rs 14,154 at the lower price band o Rs 674 per share or Rs 14,868 at the upper band of Rs 708 per share).
For small non-institutional investors (sNII), the minimum entry is Rs 2.08 lakh for 294 shares, while big non-institutional investors (bNII) need to invest at least Rs 10.11 lakh for 1,428 shares.
Hexaware Tech IPO: Company valuation and financials
At the upper price band of Rs 708 per share, Hexaware Technologies is valued at over Rs 43,000 crore.
For the nine months ending September 2024, Hexaware Technologies reported a revenue of Rs 8,820 crore and a net profit of Rs 853.3 crore
Hexaware Tech IPO: Largest IPO in Indian IT services sector since TCS
Hexaware’s IPO is the biggest in the IT services space since Tata Consultancy Services (TCS) IPO over two decades ago.
Hexaware Tech IPO: Lead managers and registrars
Hexaware Technologies IPO is backed by some of the leading names in investment banking. Kotak Mahindra Capital, Citigroup Global Markets, J.P. Morgan India, HSBC Securities, and IIFL Securities are the book running lead managers. Handling the share allotment process, Kfin Technologies is the registrar for the IPO.
Hexaware Tech IPO: Business and global presence
Hexaware is one of the leading IT and digital services company, specialising AI and automation. It serves 31 Fortune 500 companies across Americas, Europe, Asia-Pacific, and the Middle East.
The company has major offshore delivery centers in Chennai, Pune, Bengaluru, Noida, and Sri Lanka, with plans to expand into Tier 2 cities.
