Hexaware Technologies Limited is set to open its Initial Public Offering (IPO) on 12 February 2025. Before investing, it’s important to understand the key details about the company and the IPO process.
Contents
Business Overview
Hexaware Technologies is a global digital and technology services company specializing in artificial intelligence (AI).
The company integrates AI into its services to help customers adapt and innovate in an increasingly AI-driven world. Hexaware has several offshore delivery centres in India (Chennai, Pune, Bengaluru, Noida, etc.) and Sri Lanka.
The company plans to expand further into tier 2 cities, with a new centre planned for Ahmedabad. By September 30, 2024, Hexaware will have 39 delivery centres and 16 offices across the US, Europe, and APAC.
IPO Details
Size of the IPO: The Hexaware Technologies IPO is a book-built issue of Rs 8750 crore. It is entirely an offer for sale, with 12.36 crore shares being sold.
Price Band: The price range for the IPO is set at Rs 674–708 per share. The minimum lot size is 21 shares, with a minimum investment of Rs 14,154 for retail investors.
IPO Structure: The issue is divided into three categories:
1) 50% for qualified institutional buyers (QIBs)
2) 35% for retail investors
3) 15% for non-institutional investors
IPO Timelines
IPO Opening Date: February 12, 2025
IPO Closing Date: February 14, 2025
Share Allotment: The allotment of shares will be finalized on February 17, 2025.
Shares Credit Date: February 18, 2025
Listing Date: The shares are expected to list on BSE and NSE on February 19, 2025.
Additional Information
Objectives of the IPO: Hexaware Technologies will not receive any proceeds from the offer for sale.
Current GMP (Grey Market Premium): Before the IPO opens, the Grey Market Premium (GMP) is Rs 3.5, which is 0.4% higher than the upper price band. The highest GMP observed for this issue has been Rs 19.
Key Managers and Registrar
Book-Running Lead Managers: The IPO is managed by Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, HSBC Securities & Capital Markets Private Limited, and IIFL Securities Limited.
Registrar to the Issue: KFin Technologies Limited is the registrar for the IPO.
This is a significant opportunity for investors looking to participate in a technology-driven company with global operations.