KuberGrow Team Hexaware Technologies Ltd is all set to launch its highly anticipated initial public offering (IPO), with a price band of ₹674-708 per share. The public issue will open for subscription on February 12 and close on February 14, offering investors the opportunity to own a stake in one of India’s prominent IT services companies.
The anchor bidding process is scheduled to begin on February 11. Once the subscription period ends, the basis of allotment will be finalized on February 17, followed by refunds and credit of equity shares on February 18. The much-awaited listing on the stock exchanges is set for February 19, marking a significant milestone for the company.
This IPO will be a complete offer-for-sale (OFS), with shares worth ₹8,750 crore being offloaded by CA Magnum Holdings, a subsidiary of the Carlyle Group. The OFS size has been reduced from the earlier proposed ₹9,950 crore. Carlyle currently holds a 95.03 percent stake in Hexaware and is looking to monetize part of its investment through this public issue.
Hexaware operates across diverse industries, including financial services, healthcare and insurance, manufacturing and consumer, Hi-Tech and professional services, banking, and travel and transportation. Over the past year, the company has shown strong financial performance, with a 12.8 percent increase in profit for FY24, reaching ₹997.6 crore. Revenue also grew significantly, rising by 13.6 percent to ₹10,380.3 crore. The momentum has continued into the first half of FY25, where profits rose by 6 percent to ₹853.3 crore, and revenue reached ₹8,820 crore.
The IPO is being managed by some of the biggest names in investment banking, including Kotak Mahindra Capital Company, Citigroup Global Markets India, JP Morgan India, HSBC Securities and Capital Markets (India), and IIFL Capital Services. With Hexaware’s consistent growth and strong backing from global investors, the IPO is expected to attract significant interest from both institutional and retail investors.
