Hexaware Technologies IPO fully subscribed; QIBs drive demand on Day 3

Hexaware Technologies IPO Day 3: Check latest subscription data, GMP, reviews, allotment date, listing date, and other key details

Hexaware Technologies IPO Day 3: The initial public offering (IPO) of Hexaware Technologies, which is slated to close for its public subscription today, Friday, February 14, 2025, has been fully subscribed by investors. The public offering, which opened on February 12, 2025, has received bids for 13,75,86,372 equity shares, compared to the 9,14,23,354 shares available, as of around 1:54 PM on Friday, February 14, resulting in an oversubscription of 1.50 times, according to data available on the National Stock Exchange (NSE).

 

Notably, the highest demand for the Hexaware Technologies IPO came from Qualified Institutional Buyers (QIBs), who subscribed to 5.13 times their allotted portion. Meanwhile, Non-Institutional Investors (NIIs) have taken up 8 per cent, and Retail Individual Investors (RIIs) have also subscribed to 8 per cent of the offering.

 

Hexaware Technologies IPO details

Hexaware Technologies offering, valued at around Rs 8,750 crore, is entirely an offer for sale (OFS) of equity shares, with promoter CA Magnum Holdings selling a portion of its stake. As a result, the company will not receive any proceeds from the offering, and all funds will go to the promoter selling shareholder.

 

The price band for the IPO is Rs 674-708 per share, with a lot size of 21 shares. Investors can bid for a minimum of 21 shares of Hexaware Technologies IPO, and in multiples of 21. At the top of the price band, a retail investor needs Rs 14,868 to bid for one lot of 21 shares. A retail investor can bid for a maximum of 13 lots (273 shares) with an investment of Rs 1,93,284.  READ: Quality Power IPO Opens Today, Day 1 Subscription 

Hexaware Technologies IPO grey market premium (GMP)

Hexaware Technologies' unlisted shares traded flat in the grey market on Friday. The shares were priced at Rs 710 each, reflecting a small premium of Rs 2, or 0.28 per cent, over the upper price band, according to sources tracking unofficial market activities.

 

Hexaware Technologies IPO review

Hexaware Technologies IPO has received broadly favourable reviews from brokerages, including Anand Rathi Research, Arihant Capital, and SBI Securities. READ MORE

 

Hexaware Technologies IPO allotment date, listing date 

As the subscription period ends today, the allotment of Hexaware Technologies IPO shares is expected to be finalised by Monday, February 17, 2025. Shares will be credited to the demat accounts of successful allottees by Tuesday, February 18, 2025. Hexaware Technologies is tentatively scheduled to list its shares on the NSE and BSE on Wednesday, February 19, 2025. Notably, the company’s shares were delisted from the exchanges in September 2020.

 

Hexaware Technologies IPO registrar, lead managers

Kfin Technologies is the registrar for the Hexaware Technologies IPO, while the book-running lead managers include Kotak Mahindra Capital Company, Citigroup Global Markets India, J.P. Morgan India, HSBC Securities & Capital Markets, and IIFL Securities.

 

About Hexaware Technologies

Hexaware Technologies is a global digital and technology services company with a focus on Artificial Intelligence (AI). The company offers innovative solutions to help customers with digital transformation and day-to-day operations, incorporating AI into every aspect of its services.