Hexaware Technologies IPO to open on Feb 12: Delisted IT firm eyes Rs 8,750 crore

Hexaware Technologies IPO: The initial public offering of delisted IT service provider Hexaware Technologies Ltd, a technology, and artificial intelligence (AI) services provider, is set to open for bidding process on February 12 and will conclude on February 14. The company has fixed the price band between Rs 675 and Rs 708 aiming to raise Rs 8,750.00 crore to get re-listed on the exchanges, NSE and BSE. Here are the details of the IPO, including lot size, key dates, allocation, and others.

At the upper price band, the company is valued at over Rs 43,000 crore. The public issue is entirely an offer-for-sale (OFS) worth Rs 8,750 crore by its promoter, CA Magnum Holdings, a part of the Carlyle Group, which currently owns 95.03 per cent of the IT firm. Since it is a pure OFS, the entire proceeds will go to the selling shareholder rather than the company.  

Hexaware Technologies IPO: Allocation, lot size 

In terms of allocation, the retail investor can apply for minimum of 21 (Rs 14,868) and multiple thereafter up to 273 shares (Rs 1,93,284), while small HNIs can bid minimum of 294 shares (Rs 2,08,152) and a maximum of 1,407 shares (Rs 9,96,156). For the Big HNIs, minimum of 1,428 shares (Rs 10,11,024) have been reserved for the category.

Hexaware Technologies IPO: Allotment, listing, other important dates

The allotment process date for the IPO is fixed on Monday, February 17, followed by refunds and demat credits on Tuesday, February 18. Shares will be debut on BSE and NSE exchanges on Wednesday, February 19.

What does Hexaware Technologies do?

Hexaware Technologies is a global digital and technology services company with AI-driven solutions, catering to 31 Fortune 500 companies across the Americas, Europe, and Asia-Pacific. It operates in six key sectors: financial services, healthcare & insurance, manufacturing & consumer, hi-tech & professional services, banking, and travel & transportation. The company offers services across several segments, including data & AI, and cloud services.

IT services provider delisted in 2020

Previously HTL was owned by Baring Private Equity Asia, and delisted in 2020. After that Carlyle Group took over its stake in October 2021.