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- Hexaware Technologies IPO Will Open Tomorrow, Price, GMP, Details, Updates
Mumbai7 minutes ago
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Hexavier Technologies Limited’s Initial Public Offer ie IPO is being opened from tomorrow for public subscription i.e. 12 February. This IPO will be close on 14 February.
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.
Till now, the largest IPO of Rs 4,713 crore in the Indian IT sector was Tata Consultancy Services i.e. TCS. This IPO is completely offer for sale (offs).
There will be a listing of the company’s shares on 19 February
The company has fixed the price band of the IPO ₹ 674- ₹ 708 per equity share. Hexaware shares will be allotted on 17 February. There will be a listing of shares on both BSE and NSE on 19 February.
95.03% stake in promoter company
The company’s promoter is CA Magnum Holdings (Carlile Group). Promoters have a 95.03% stake in the company. Hexavier is owned by the American private equity firm Carlile. Carlile bought Hexaware Technology in 2021 from Barring Private Equity Asia (now EQT) for about 3 billion dollars.
How much money can retail investors invest minimum?
For this IPO, retail investors can apply for minimum for a lot ie 21 shares. If you apply for 1 lot of IPO’s upper prize band ₹ 708, then you have to invest ₹ 14,868.
At the same time, Retail Investors can do bidding for IPO’s maximum 13 lots i.e. 273 shares. For which investors will have to invest maximum ₹ 1,93,284.
35% of the issue reserved for retail investors
About 50% of the issue has been reserved for qualified Institutional Buyers (QIB). Apart from this, about 35% share is reserved for retail investors and about 15% share for non-institutional investors (NII).
Registrar of this issue is Caffein Technologies
Kotak Mahindra Capital Company Limited, Citygroup Global Markets India Private Limited, J.P. Morgan India Private Limited, HSBC Securities and Capital Markets Private Limited, IIFL Securities Limited -Hexavier Technologies is the book running lead manager of IPO. At the same time, Caffein Technologies Limited is the Registrar for this issue.
Company is returning to domestic stock markets after 22 years
The company is returning to domestic stock markets after 22 years. According to NSE data, the company was first listed on 14 June 2002. The first promoter Barring Private Equity Asia was delisted in 2020.
What does Hexaware Technologies Limited work?
Hexavier Technology is a global technology and business process services company. It has 61 offices in more than 19 countries worldwide. The company has a workforce of 31,000 employees and has more than 370 clients.
According to the company’s website, Hexaware has acquired a $ 1.3 billion revenue annually. The company is the core Artificial Intelligence (AI).
The company manages business through 6 operating segments
Hexaware manages its business through 6 operating segments that are based on industries that the company provides services. These are industries- Financial Services, Healthcare and Insurance, Manufacturing and Consumer, High-Tech and Professional Services, Banking, Travel and Transportation.
5 broad services also included in the company’s offer
The company’s offers also include 5 broad services-Design and Construction, Secure & Run, Data and AI, Optimize and Cloud Services. These are the base of all the company offers.