3 days ago
Global IT services provider Hexaware Technologies Ltd is set to finalise the allotment for its initial public offering (IPO) on February 17.
The IPO listing has been scheduled for February 19. Shares of Hexaware Technologies Ltd will be listed on the NSE and BSE.
The ₹8,750-crore IPO, which was open for bidding from February 12 to February 14, saw a total subscription of 2.66 times. The price band for the IPO was fixed at ₹674 to ₹708 per share.
The issue was most subscribed by the Qualified Institutional Buyers (QIBs) at 9.09 times. The Non-Institutional Investors (NIIs) booked their quota 20%, while the retail investors’ portion was subscribed 11%.
The IPO investors are waiting for the company to finalise the share allotment status after the end of the subscription period. The investors can check the IPO allotment status on the NSE, BSE and the website of the issue registrar, KFin Technologies.
Steps to check IPO allotment status on the BSE:
1. Go to the IPO allotment page on the BSE website.
2. Select "Equity" as the issue type.
3. Choose "Hexaware Technologies" from the dropdown menu.
4. Enter your application number or PAN.
5. Click "Search" to view your allotment status.
How to check IPO allotment status on Kfin Technologies website:
1. Visit the IPO allotment status page on the Kfin Technologies website.
2. Choose "Hexaware Technologies" from the dropdown menu.
3. Enter your PAN, application number, or DP/Client ID.
4. Click "Submit" to check your status.
Those who are allotted shares will receive the shares in their demat accounts on February 18, while refunds will be processed for unsuccessful applicants on the same day.
Hexaware Technologies IPO details
Ahead of the IPO opening, the US private equity major Carlyle-backed company mobilised ₹2,598 crore from 96 institutional investors including the Government of Singapore, Monetary Authority of Singapore, CLSA, JP Morgan and Goldman Sachs.
The IPO was entirely an Offer For Sale (OFS) by promoter Carlyle.
This is the largest IPO by an Indian IT services firm, surpassing TCS’ ₹4,713-crore public offer in 2004.
After the IPO, promoter Carlyle's stake will come down to 74.1% from 95%.
At the higher end of the price band, Hexaware will have a market valuation of ₹43,247 crore.
Hexaware was delisted from the stock exchanges in September 2020 when the company's promoters accepted the delisting price of ₹475 per share.
About Hexaware Technologies
Founded in 1992, the Mumbai-based Hexaware Technologies is involved in the business of global digital and technology services with artificial intelligence. It uses technology to offer innovative solutions, integrating AI to help customers adapt, innovate, and improve in the AI-driven world.
For the nine months ended September 2024, Hexaware Technologies posted a revenue of ₹ 8,820 crore and a net profit of ₹853.3 crore.
