The Initial Public Offer (IPO) of Hexaware Technologies Limited is opening for public subscription from February 12. This IPO will close on February 14. The company wants to raise ?8,750 crore by selling 12.36 crore shares through this public issue. This will be the largest IPO ever in India’s IT services and enterprise tech segment. So far, the largest IPO in the Indian IT sector was of Tata Consultancy Services (TCS) in the year 2002 worth Rs 4,713 crore. This IPO is completely an Offer for Sale (OFS). The company’s shares will be listed on February 19. The company has fixed the price band of the IPO at ?674-?708 per equity share. Allotment of Hexaware shares will be done on February 17. The shares will be listed on both BSE and NSE on February 19. Promoter holds 95.03% stake in the company The promoter of the company is CA Magnum Holdings (Carlyle Group). Promoters hold 95.03% stake in the company. Hexaware is owned by American private equity firm Carlyle. Carlyle bought Hexaware Technologies from Baring Private Equity Asia (now EQT) in 2021 for about $3 billion. What is the minimum amount retail investors can invest? Retail investors can apply for a minimum of one lot i.e. 21 shares for this IPO. If you apply for 1 lot as per the upper price band of ? 708 of the IPO, then you will have to invest ? 14,868. At the same time, retail investors can bid for a maximum of 13 lots i.e. 273 shares of the IPO. For which investors will have to invest a maximum of ? 1,93,284. 35% of the issue is reserved for retail investors About 50% of the issue is reserved for qualified institutional buyers (QIB). Apart from this, about 35% is reserved for retail investors and about 15% is reserved for non-institutional investors (NII). The registrar of this issue is KFin Technologies Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, HSBC Securities and Capital Markets Private Limited, IIFL Securities Limited – Hexaware Technologies are the book running lead managers of the IPO. At the same time, KFin Technologies Limited is the registrar for this issue. The company is making a comeback in the domestic stock markets after 22 years The company is making a comeback in the domestic stock markets after 22 years. According to NSE data, the company was first listed on 14 June 2002. The first promoter Baring Private Equity Asia delisted it in 2020. What does Hexaware Technologies Limited do? Hexaware Technologies is a global technology and business process services company. It has 61 offices in more than 19 countries around the world. The company has a workforce of 31,000 employees and has more than 370 clients. According to the company’s website, Hexaware has achieved an annual revenue of $1.3 billion. The company’s core is Artificial Intelligence (AI). The company manages the business through 6 operating segments Hexaware manages its business through 6 operating segments, which are based on the industries to which the company provides services. These industries are – Financial Services, Healthcare and Insurance, Manufacturing and Consumer, High-Tech and Professional Services, Banking, Travel and Transportation. The company’s offerings also include 5 broad services The company’s offerings also include 5 broad services – Design and Construction, Secure and Run, Data and AI, Optimize and Cloud Services. These form the base of all the company’s offerings.
