Hexaware Technologies came to market through an IPO that opened on 12 February 2025 and closed on 14 February 2025, and the shares listed on 19 February 2025 on BSE, NSE. The price band was ₹674 to ₹708 per share and one lot was 21 shares, so the minimum application was ₹14,868. The issue size was ₹8750 crore. The whole issue was an offer for sale, so the proceeds went to the selling shareholders rather than the company.
Kfin Technologies Limited was the registrar to the issue, and Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, Hsbc Securities & Capital Markets Pvt Ltd, Iifl Securities Ltd were the lead managers.
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Hexaware Technologies Limited was established in 1992 and conducts business in the global digital and technology services industry with artificial intelligence. The firm uses technology for innovative solutions to help customers adapt, innovate, and improve with AI in this AI-driven world. The company has major offshore delivery centers in India (Chennai, Pune, Bengaluru, Noida, etc.) and Sri Lanka. It has plans to expand into Tier 2 cities and open new centers in Ahmedabad.
As of September 30, 2024, the company has a global delivery presence with 39 centers and 16 offices across the Americas, Europe, and APAC. Business Segment: The company offers services in its operating segments in six industries, namely Financial Services, Healthcare & and; Insurance, Manufacturing & and; Consumer, Hi-Tech & and; Professional Services, Banking, and Travel & and Transportation. Platforms:
The company offers services through AI-powered platforms such as RapidX™ for digital transformation, Tensai® for automation, and Amaze® for cloud adoption, serving customers globally across multiple regions. As of September 30, 2024, the company has 32,536 employees of which 30,171 are full-time and 2,365 contracted.
As described in the offer document.
| Metric | 30-Sep-24 | 30-Sep-23 | 31-Dec-22 |
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Hexaware Technologies IPO: IT firm mobilises Rs 2,598 crore. Global marquee investors like CLSA, Government of Singapore, Monetary Authority of Singapore, Smallcap World Fund, American Funds, Fidelity, Abu Dhabi Investment Authority, JP Morgan, Custody Bank of Japan, Goldman Sachs, New York State Teachers Retirement System, T Rowe Price International, Amundi Funds, Templeton Emerging Markets Investment Trust, Tocu Europe, and Florida Retirement System showed great interest in the company.
Domestic institutional investors like SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC AMC, Kotak Mahindra AMC, Aditya Birla Sun Life AMC, Motilal Oswal Mutual Fund, Axis Mutual Fund, UTI MF, Mirae Asset India, Manulife Global Fund, Aditya Birla Sun Life Insurance, PGIM India, DSP MF, and Baroda BNP Paribas MF also invested in Hexaware via anchor book.
CA Magnum Holdings. Promoter holding 95.03% before the issue and 74.07% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Hexaware Technologies IPO was a ₹8,750 crore book-built issue, made up entirely of an offer for sale. It was priced at ₹674–₹708 per share with a lot size of 21 shares (₹14,868). The IPO was open from February 12 to February 14, 2025. Shares listed on BSE and NSE on February 19, 2025 at ₹745.50, a 5.3% premium to the issue price of ₹708. Kfin Technologies Limited is the registrar.
Kotak Mahindra Capital Company Limited and 4 other book running lead managers manage the issue.
The price band of Hexaware Technologies IPO is ₹674 to ₹708 per share.
The lot size of Hexaware Technologies IPO is 21 shares.
The minimum investment for Hexaware Technologies IPO is approximately ₹14,868 based on the upper price band.
The allotment date of Hexaware Technologies IPO is Feb 17, 2025.
Hexaware Technologies IPO's final recorded GMP before listing was ₹1 per share (level with the ₹708 upper price band). The shares listed at ₹745.5. GMP is unofficial and does not forecast or guarantee the actual listing price.
Hexaware Technologies IPO listed on Feb 19, 2025. It was issued at ₹745.5(NSE) and is currently around ₹500.00 as on 30-Oct-2026 3:30 PM, which is approximately -29.4% versus issue price. The 52-week high is ₹807.75.
You can check Hexaware Technologies IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Hexaware Technologies IPO allotment status on Rupix for quick and easy access.
₹674 to ₹708 per share, against a face value of ₹1. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 21 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,868.
₹14,868, for one lot of 21 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 12 February 2025 and closed on 14 February 2025.
The basis of allotment was published on 17 February 2025 by Kfin Technologies Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 19 February 2025 on BSE, NSE.
The issue size was ₹8750 crore. The offer for sale was 12,35,87,570 shares (aggregating up to ₹8750 crore).