Hexaware Technologies Ltd has announced a price band of ₹674-708 per share for its upcoming initial public offering (IPO), which will open for subscription on February 12 and close on February 14. The anchor investor bidding will take place on February 11, while the share allotment is scheduled for February 17. Refunds and credit of shares will be processed on February 18, with the stock set to debut on the exchanges on February 19.
The IPO will be an offer-for-sale (OFS) of shares worth ₹8,750 crore by promoter CA Magnum Holdings, a subsidiary of Carlyle Group Inc. This is a reduction from the earlier planned ₹9,950 crore issue size. Currently, CA Magnum holds a 95.03% stake in Hexaware.
Hexaware Technologies operates in six major segments, including financial services, healthcare and insurance, manufacturing and consumer, Hi-Tech and professional services, banking, and travel and transportation.
In FY24, the company reported a 12.8% growth in net profit, reaching ₹997.6 crore, while revenue rose to ₹10,380.3 crore. For the first half of FY25, its profit increased by 6% to ₹853.3 crore, while revenue grew 13.6% year-on-year to ₹8,820 crore.
The IPO is being managed by Kotak Mahindra Capital, Citigroup Global Markets India, JP Morgan India, HSBC Securities, and IIFL Capital Services.
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Source: Moneycontrol
News Desk
