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The much-awaited Hexaware Technologies IPO opens for subscription today (February 12, 2024) and will remain open until February 14, 2025. The company aims to raise ₹8,750 crore through this Offer-for-Sale (OFS) IPO, meaning no new funds will be infused into the company—the proceeds will go to existing shareholders selling their stakes.
Pre-IPO Fundraising
Before the public issue, Hexaware Technologies raised ₹2,598 crore through anchor bidding, demonstrating strong investor interest.
Hexaware Technologies IPO: Key Details
1. Price Band & Lot Size
- Price Band: ₹674 – ₹708 per share
- Lot Size: 21 shares per lot
- Minimum Investment for Retail Investors: ₹14,868 (for one lot)
2. Share Allotment & Listing Timeline
- Share Allotment Date: Likely on February 15, 2025 (Saturday). If delayed, it may be finalized by February 17, 2025 (Monday).
- Listing Date: Expected on February 19, 2025, on both BSE & NSE.
3. Lead Managers for the Issue
The IPO is managed by top financial institutions, including:
- Kotak Mahindra Capital
- Citigroup Global Markets India
- JP Morgan India
- HSBC Securities
- IIFL Securities
Grey Market Premium (GMP) Update
According to market experts, Hexaware Technologies’ IPO shares are trading at a ₹2 premium in the grey market, indicating moderate demand from investors.
Should You Subscribe? Expert Opinions
- Abhishek Pandya (Stocksbox Research Analyst) has given a ‘Subscribe’ rating, citing:
- A Price-to-Earnings (P/E) ratio of 43.1x (based on 2023 income), which is cheaper than other industry players.
- Anand Rathi has also given a ‘Subscribe’ rating, stating that Hexaware’s business has grown significantly over the last decade, making it a strong long-term investment.
