Hexaware Technologies IPO: Price Band, Listing, Allotment Date, Financials, Risks & More— DRChoksey's Analysis

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Deven Choksey Report

Hexaware Technologies Ltd. will launch its initial public offering on February 12 and the offer closes for subscription of Feb. 14. An IT services and consulting firm has set the price band of Rs ⁠674-708 per share. The minimum order lot for bidding is 21 shares.

The Rs 8,750 crore IPO comprises entirely of an offer for sale with no fresh issue. The market value at upper end of price band is Rs 43,025 crore.

The allotment for Hexaware Technologies IPO is expected to be finalized on Feb. 17.

The shares will be listed on both the National Stock Exchange and the BSE on Feb. 19.

Outlook and Valuation:

Hexaware Technologies has strategically positioned itself to leverage ongoing industry trends towards digital transformation and cloud adoption. The IT services industry is anticipated to grow with a CAGR of 7.2% from 2024 to 2029, reflecting increased enterprise investments in these technologies.

Hexaware's development and deployment of AI-enabled platforms such as RapidX , Tensai®, and Amaze® cater to this growing demand, supporting its stable revenue generation across diverse sectors like financial services and healthcare.

The company’s diversified client base and AI-driven offerings support growth, but macroeconomic uncertainties and sector competition pose risks. The issue is priced at 43 times P/E (FY24) which seems to be fairly priced. Therefore, we assign a “Neutral” rating.

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