Hexaware Technologies IPO makes a strong debut on the stock exchanges, exceeding expectations with a listing price 11% above the issue price, reflecting investor confidence.
Mumbai-based IT services provider, Hexaware Technologies Ltd, has marked a successful entry into the stock market with its shares listing at a premium. The IPO, with an issue price of ₹708, saw a strong opening on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). On the BSE, the stock listed at ₹731, a 3.24% increase, while on the NSE, it debuted at ₹745, reflecting a 5.22% rise.
Currently, Hexaware Technologies' shares are trading at ₹756.45, approximately 6.84% above the IPO price. This listing has propelled the company's market capitalization to nearly ₹46,000 crore.
Hexaware Technologies successfully raised ₹8,750 crore through its IPO, which was open for investment from February 12 to 14, 2025. The IPO was entirely an offer for sale, meaning existing investors divested their holdings without the issuance of new shares. CA Magnum Holdings, the promoter, held a 95.03% stake in Hexaware Technologies before the IPO.
The IPO was subscribed 2.79 times, driven mainly by institutional investors, whose quota was oversubscribed 9.55 times. Non-institutional investors' quota was only 0.21 times subscribed, while the retail investors' portion saw a subscription of only 0.11 times, indicating a cautious approach from these investor segments.
Hexaware Technologies' IPO marks a significant event in the Indian IT sector, being the first major IT company to list on the stock exchanges in two decades. The IPO size is almost double that of Tata Consultancy Services' IPO of ₹4,713 crore from two decades ago. Carlyle acquired Hexaware from Baring Private Equity Asia in 2021 for approximately $3 billion.
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