Upcoming IPO: Hexaware Tech To Open Issue For Public On Feb 12, Check GMP And Price Band Here

Backed by Carlyle, a private equity firm in the US, Hexaware Technologies specialises in digital and technology services rooted in artificial intelligence (AI).

The final allocation of the shares of the IPO will be decided on February 17, while the company will make its debut in the stock market on the BSE and NSE on February 19.

Source : Groww

Hexaware Technologies is all set to open its maiden offering for the public this week. The company’s initial public offering will be available for subscription from February 12 to 14, 2025. Anchor investors will be allocated the shares of the issue a day prior to the opening of the IPO on February 11.

The issue has been priced in the range of Rs 674 to Rs 708 apiece. Investors will need to place their bids for a minimum lot size of 21 equity shares and in multiples of thereafter. Backed by Carlyle, a private equity firm in the US, Hexaware Technologies specialises in digital and technology services rooted in artificial intelligence (AI).

The issue comprises entirely of an offer-for-sale (OFS) component worth Rs 8,750 crore by promoter CA Magnum Holdings, which is also a part of the Carlyle Group Inc. Notably, in its earlier draft documents submitted in September last year, the firm mentioned the OFS of shares worth Rs 9,950 crore. 

All the funds raised from the issue will go to the promoter, apart from expenses related to the offer. CA Magnum owns a 95.03 per cent stake in the firm, while the remaining equity is owned by the public.

About 50 per cent of the issue has been reserved for qualified institutional buyers (QIBs), while the quota set aside for non-institutional investors stands at 15 per cent. Meanwhile, for retail investors a minimum of 35 per cent of the issue has been reserved.

Eligible employees taking part in the employee reservation segment will be provided a discount of Rs 67 per share, while equity shares worth up to Rs 900 million have been set aside for them, the company’s red herring prospectus revealed.

The final allocation of the shares of the IPO will be decided on February 17, while the company will make its debut in the stock market on the BSE and NSE on February 19.

The book-running lead managers of the issue are Citigroup Global Markets India, J P Morgan India, HSBC Securities and Capital Markets (India), IIFL Capital Services, and Kotak Mahindra Capital Company.

Hexaware Tech GMP Today

Currently, the issue is commanding a premium of 1.41 per cent in the grey market, according to IPOJi. The grey market premium indicates the potential performance of a company once it gets listed in the official stock market. This provides a measure of investors' confidence in the listing and how it will fare on its debut. The grey market runs parallel to the stock market and provides an unofficial platform for traders to place their bets before an issue begins trading on the exchanges.

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