Carlyle-backed Hexaware Technologies IPO opens: Subscription and other details

The Hexaware Technologies IPO comes with a price band of ₹675-708 per share and a target of raising ₹8,750 crore for the company’s re-listing.

Initial Public Offering (IPO) of Hexaware Technologies Ltd got a slow start on its opening day, getting just 1% subscription as of 12.30pm, Bombay Stock Exchange (BSE) data showed.

The IPO is valued at over ₹43,000 crore at the upper price band

According to the BSE, it received a bid for 11,69,259 shares against 9,14,23,354 shares on offer.

The retail investor portion received 2% subscription while the non-institutional investors quota was booked 1%, and the qualified institutional buyers (QIBs) part is yet to be booked. Employees' portion has been subscribed 6%.

The IPO closes on February 14. It comes with a price band of ₹675-708 per share, with a target of raising ₹8,750 crore for the company’s re-listing on the BSE and NSE.

The IPO is valued at over ₹43,000 crore at the upper price band. It is entirely an offer-for-sale (OFS) by its promoter, CA Magnum Holdings, a Carlyle Group entity, which holds a 95.03% stake in the firm.

Retail investors have a minimum bid size of 21 shares (Rs14,868), with multiples up to 273 shares ( ₹1,93,284). Meanwhile, small HNIs can bid for at least 294 shares ( ₹2,08,152) and a maximum of 1,407 shares ( ₹9,96,156), while big HNIs must bid for at least 1,428 shares ( ₹10,11,024).

The allotment of shares is scheduled for February 17, followed by refunds and demat credits on Tuesday, February 18. The company's shares will debut on the BSE and NSE on February 19.

Hexaware Technologies specialises in data & AI, cloud services, and automation-driven solutions for 31 Fortune 500 companies across the Americas, Europe, and Asia-Pacific, spanning sectors like financial services, healthcare & insurance, manufacturing & consumer, hi-tech & professional services, banking, and travel & transportation.