Hexaware Technologies (PRNewsfoto/Hexaware Technologies Ltd.) | Photo Credit: Hand-out
Hexaware Technologies Stocks, Hexaware Technologies IPO GMP Subscription Day 2 Updates Feb 13, 2025: The ₹8,750-crore IPO received a tepid reponse, with 15% subscriptions so far on day 2. The IPO concludes on February 14.
The Mumbai-headquartered company has set a price band at ₹674-708 per share for the IPO. Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, JP Morgan India Private Ltd, HSBC Securities and Capital Markets (India) Private Ltd and IIFL Capital Services Ltd are book-running lead managers to the issue.
Hexaware Tech IPO Live: Booked 15% so far, know more
The 8,750 crore IPO of Hexaware Technologies Ltd received 15 per cent subscription as at 4.30 pm on Thursday. It will conclude tomorrow, February 14, 2025.
The quota for qualified institutional buyers (QIBs) garnered 39 per cent subscription, NIIs 3 per cent and retail booked 6 per cent.
The company secured ₹2,598 crore from anchor investors. The employee portion was booked 17 per cent.
The Mumbai-headquartered company has set a price band at ₹674-708 per share for the IPO, and at the upper end of the price band, the company has been valued at over ₹43,000 crore.
The initial share sale is a complete Offer for Sale (OFS) of equity shares worth ₹8,750 crore by promoter CA Magnum Holdings, part of Carlyle Group.
Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, JP Morgan India Private Ltd, HSBC Securities and Capital Markets (India) Private Ltd and IIFL Capital Services Ltd are book-running lead managers to the issue.
The equity shares will be listed on BSE and NSE.
- 16:30 | February 13, 2025
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- 16:13 | February 13, 2025
Hexaware Tech IPO Live: IPO details, price band, issue size and more
The company secured ₹2,598 crore from anchor investors.
The Mumbai-headquartered company has set a price band at ₹674-708 per share for the IPO, and at the upper end of the price band, the company has been valued at over ₹43,000 crore.
The initial share sale is a complete Offer for Sale (OFS) of equity shares worth ₹8,750 crore by promoter CA Magnum Holdings, part of Carlyle Group.
Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, JP Morgan India Private Ltd, HSBC Securities and Capital Markets (India) Private Ltd and IIFL Capital Services Ltd are book-running lead managers to the issue.
The equity shares will be listed on BSE and NSE.
- 16:07 | February 13, 2025
Hexaware Technologies IPO: Booked 15% so far
- QIBs: 0.39 times
- NIIs: 0.03 times
- Retail: 0.06 times
- Employee portion: 0.16 times
Total 0.15 times (data as at 4.03 pm)
- 15:22 | February 13, 2025
Hexaware Tech IPO: Know the price band of the issue
The company has set a price band at ₹674-708 per share for the IPO. At the upper end of the price band, the company has been valued at over ₹43,000 crore.
- 15:10 | February 13, 2025
Hexaware Technologies IPO Live: Booked 13%
Hexaware Technologies IPO has been subscribed 0.13 times as at 3.06 pm on February 13, 2025. The QIB portion has been subscribed 0.32 times, NIIs 0.02 times, retail portion 0.06 times and employee portion 0.16 times.
- 14:15 | February 13, 2025
Hexaware Technologies IPO: Booked 12% so far
- QIBs: 0.29 times
- NIIs: 0.02 times
- Retail: 0.06 times
- Employee portion: 0.15 times
Total 0.12 times (data as at 2.12 pm)
- 13:18 | February 13, 2025
Hexaware Technologies IPO: Booked 7% so far
- QIBs: 0.12times
- NIIs: 0.02 times
- Retail: 0.05 times
- Employee portion: 0.15 times
Total 0.07 times (data as at 1.15 pm)
- 12:46 | February 13, 2025
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Ashok Leyland shares, flagship of Hinduja Group, gained 2.6 per cent in early trade on Thursday, after the company recorded a 31 per cent rise in net profit at ₹762 crore in the December 2024 quarter.
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Ashok Leyland Shares: Gains 2.6%, Q3 profit rises 31% to ₹762 cr, brokerages hike target prices
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- 12:38 | February 13, 2025
Hexaware Technologies IPO: Booked 6% so far
- QIBs: 0.11 times
- NIIs: 0.02 times
- Retail: 0.05 times
- Employee portion: 0.15 times
Total 0.06 times (data as at 12.36 pm)
- 11:54 | February 13, 2025
Hexaware Technologies IPO live: Subscribed 4%
Hexaware Technologies IPO has been subscribed 0.04 times as at 11.51 am on February 13, 2025. The QIBs portion has been booked 0.04 times, NIIs 0.02 times, retail 0.05 times and employee portion 0.14 times.
- 10:33 | February 13, 2025
Hexaware Technologies IPO: Booked 4% so far
QIBs: 0.04 times
NIIs: 0.02 times
Retail: 0.05 times
Employee portion: 0.13 times
Total 0.04 times (data as at 10.24 am)
- 09:23 | February 13, 2025
Hexaware Tech IPO Live: Subscribed 3 pc on Day 1 of offer
The initial public offer of private equity major Carlyle Group-backed Hexaware Technologies Ltd received 3 per cent subscription on the first day of bidding on Wednesday.
The got bids for 30,78,369 shares against 9,14,23,354 shares on offer, as per NSE data.
The quota for Qualified Institutional Buyers (QIBs) garnered 4 per cent subscription while Retail Individual Investors (RIIs) part got subscribed 4 per cent. The portion for non-institutional investors received 1 per cent subscription.
Hexaware Technologies Ltd has mopped up Rs 2,598 crore from anchor investors.
The Rs 8,750-crore Initial Public Offering (IPO) of Hexaware Technologies will conclude on February 14.
The company has set a price band at Rs 674-708 per share for the IPO.
At the upper end of the price band, the company has been valued at over Rs 43,000 crore.
The initial share sale of the Mumbai-headquartered company is a complete Offer for Sale (OFS) of equity shares worth Rs 8,750 crore by promoter CA Magnum Holdings, part of Carlyle Group.
At present, CA Magnum Holdings holds 95.03 per cent stake in the IT company.
Since the entire issue is an OFS, all the proceeds from the IPO will go directly to the selling shareholder, rather than to the company.
Hexaware’s public issue is the largest in country’s IT services sector since Tata Consultancy Services’ over Rs 4,700 crore IPO over two decades ago.
Hexaware Technologies is a global digital and technology services company.
Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, JP Morgan India Private Ltd, HSBC Securities and Capital Markets (India) Private Ltd and IIFL Capital Services Ltd are book-running lead managers to the issue.
The equity shares will be listed on BSE and NSE.
(PTI inputs)
- 17:15 | February 12, 2025
Hexaware Technologies IPO live update: Closing bid details
Total Subscription: 0.03 times
QIB: 0.04 times
NII: 0.01 times
RII: 0.04 times
Employee: 0.11 times
- 16:44 | February 12, 2025
Hexaware Technologies IPO update: Subscription details
As at 4.45 pm
Total Subscription: 0.03 times
QIB: 0.04 times
NII: 0.01 times
RII: 0.04 times
Employee: 0.10 times
- 16:42 | February 12, 2025
Hexaware Technologies IPO live update: Brokerage views on Hexaware Technologies IPO
Anand Rathi – Subscribe
SBI Securities – Subscribe for Long-Term Investment Horizon
Arihant Capital – Subscribe for Long-Term
StoxBox – Subscribe
Ventura Securities – Subscribe
Sushil Finance – Apply to Issue with Long-Term Horizon
- 14:50 | February 12, 2025
Hexaware Technologies IPO update: Stoxbox’s take on Hexaware Technologies Limited IPO
Recommendation: Subscribe
Forecast: Stoxbox expects a strong response due to Hexaware’s AI-driven business model, global presence, and strong financials. The IPO is priced at a P/E ratio of 43.1x, which they consider cheaper than peers.
Key Strengths: AI-led digital capabilities, partnerships, strong cash flow management, and consistent revenue growth.
Risks: High dependency on the Americas and Europe (over 90% revenue), forex fluctuations, and cybersecurity threats.
Verdict: Given the company’s strong fundamentals, revenue growth, and valuation, Stoxbox recommends subscribing to the IPO.
- 14:10 | February 12, 2025
Hexaware Technologies IPO update: Subscription details
As at 2.05 pm
Total Subscription: 0.02 times
QIB: 0.00 times
NII: 0.01 times
RII: 0.03 times
Employee: 0.08 times
- 13:24 | February 12, 2025
Hexaware Technologies IPO update: Bajaj Broking’s take
Recommendation: Subscribe for Long Term.
Forecast: The issue appears fully priced with a P/E of 37.82 (CY24 earnings) and 43.12 (FY24 earnings). However, the company has shown strong financial performance and is among the top three players in its segment.
Financials: Revenue has grown consistently over the last three years, and net profit has increased from ₹748.80 crore in CY21 to ₹997.60 crore in CY23.
Valuation: The issue is priced at a P/BV of 8.82 based on NAV of ₹80.32 as of September 30, 2024.
Profitability: PAT margins remain stable around 9.6%-10%.
Overall Outlook: While the IPO is priced on the higher side, the company has a strong market presence and expects to maintain its leadership position.
- 13:03 | February 12, 2025
IPO news live: Subsciption update
As at 1 pm
Total Subscription: 0.01 times
QIB: 0.00 times
NII: 0.01 times
RII: 0.02 times
Employee: 0.07 times
- 11:29 | February 12, 2025
IPO news live: Suscription details
The data shows total 0.01 times subscription as of 11.21 AM. The retail portion was subscribed 0.02 times, while the employee quota saw 0.04 times subscription.
Non-institutional investors (NIIs) showed minimal interest, with the category subscribed just 0.004 times. Within NIIs, those bidding for more than ₹10 lakh saw 0.001 times subscription, while those bidding between ₹2-10 lakh achieved 0.01 times subscription.
- 11:25 | February 12, 2025
IPO news live: Anand Rathi recommends ‘Subscribe’
The ₹87,500 million initial public offering (IPO) of Hexaware Technologies Ltd opened today, with a price band set at ₹674-708 per share. The issue, which closes on Feb 14, is entirely an offer for sale (OFS) by promoters, aiming to enhance liquidity and brand visibility.
Brokerage Anand Rathi has given a “SUBSCRIBE” rating to the IPO, citing the company’s strong AI-driven digital services, global client base, and consistent growth. At the upper price band, the firm is valued at a P/E of 43.1x with a return on net worth of 22.8%. The company reported a 9.7 per cent net profit margin for 9MCY24, with revenue touching ₹88,200 million.
Post-IPO, public shareholding will rise to 25.3 per cent from the current 4.5% per cent, while promoter holdings will reduce from 95.5 per cent to 74.7 per cent. Lead managers for the issue include Kotak Mahindra Capital, Citigroup Global Markets, J.P. Morgan India, HSBC Securities, and IIFL Capital.
Hexaware specializes in AI-powered automation, cloud services, and enterprise digital transformation. The company competes with Persistent Systems, Coforge, and LTIMindtree, with its AI-first approach helping it gain traction in the IT services market.
While forex risks, competition, and dependency on key geographies remain challenges, the brokerage expects strong investor interest, given the company’s growth trajectory and focus on innovation.
The stock is set to debut on exchanges later this month.
- 10:19 | February 12, 2025
IPO news live: Hexaware IPO sees tepid response in early trading hours
Hexaware Technologies’ ₹8,750-crore initial public offering (IPO) witnessed a muted response in its first few minutes of trading on February 12, 2025, with only 31,479 shares bid against the total offer size of 9.14 crore shares, marking a subscription of just 0.003 times as of 10.06 AM.
Retail investors led the initial subscription, bidding for 26,397 shares against their allocated portion of 4.49 crore shares, with the majority opting for cut-off price bids. Non-institutional investors subscribed to 3,633 shares out of their 1.92 crore share quota, while employee participation stood at 1,449 shares against their reserved portion of 14.82 lakh shares.
The IT services company has set the price band at ₹674-708 per share, with a minimum lot size of 21 shares. The IPO, which will close on February 14, is entirely an offer for sale by CA Magnum Holdings, a Carlyle Group entity. Prior to the market opening, Hexaware secured ₹2,598 crore from anchor investors.
This IPO is poised to become the largest in India’s IT services sector, surpassing TCS’s ₹4,713 crore offering from 2004. The qualified institutional buyers’ portion, consisting of 2.56 crore shares, had not received any bids in the initial minutes of trading.
- 09:55 | February 12, 2025
IPO news live: Dramatic scaling in India markets encouraging IPO listing, said Hexaware Technologies
The IPO comprises an Offer For Sale of equity shares aggregating up to ₹8,750 crore, the Price Band has been fixed from ₹674 to ₹708 per Equity Share.
- 09:53 | February 12, 2025
IPO news live: Hexaware Technologies expensive valuation wears it down
Despite a solid business track-record, Hexaware’s IPO pricing leaves investors with no margin of safety given the slow industry growth and uncertainties linked to-AI related disruptions.
- 09:51 | February 12, 2025
IPO news live: Opens at ₹674-708 price band
Company raised ₹2,598 crore from anchor investors.
- 09:49 | February 12, 2025
IPO news live: Hexaware IPO opens at 10 AM; anchor investor details released
The IPO of Hexaware Technologies will open for subscription at 10 AM today. Ahead of the issue, the company has already raised ₹2,598 crore from anchor investors at ₹708 per share. Leading mutual funds such as SBI MF, HDFC MF, ICICI Prudential MF, and Kotak Mahindra MF participated in the anchor round. Out of the 3.66 crore equity shares allotted to anchor investors, 35.85% were allocated to domestic mutual funds through 34 schemes.
Published on February 12, 2025
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