Here's What Hexaware Technologies IPO GMP Indicates Ahead Of Launch On Feb. 12
The subscription window for Hexaware Technologies IPO will remain open between Feb. 12 and Feb. 14.
The Rs 8,750-crore initial public offering (IPO) of Hexaware Technologies Ltd. commanded a grey market premium of Rs 8 in the unlisted market as of 9:30 a.m. on Monday. The subscription window for the mainboard IPO of the global digital and technology services provider is set to go live on Feb. 12.
According to InvestorGain, the current GMP trends of Hexaware Technologies IPO suggest a nearly flat listing, with shares expected to make market debut at Rs 718 on the BSE and the National Stock Exchange, marking a premium of 1.13% over the issue price. However, the GMP trends are likely to change when the offers opens for subscription.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Hexaware Technologies IPO: Key Details
Hexaware Technologies IPO is a book-built issue consisting entirely of an offer-for-sale of 12.36 crore shares. With the IPO price band fixed at Rs 674 to Rs 708 apiece with a face value of Re 1 per share, the total offer size is valued at Rs 8,750 crore.
The company has reserved 50% of the net offer size for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
Retail investors must submit their bids with a minimum lot size of 21 shares, resulting in an investment of Rs 14,868.
The subscription window for Hexaware Technologies IPO will remain open between Feb. 12 and Feb. 14.
Share allotment in the IPO will be done Feb. 17. Initiation of refunds for the non-allottees and credit of shares into the demat account of successful bidders will be done Feb. 18.
Shares of Hexaware Technologies Ltd. are proposed to be listed on the BSE and NSE on Feb. 19.
Hexaware Technologies has appointed Kotak Mahindra Capital Company Ltd., Citigroup Global Markets India Pvt., J.P. Morgan India Pvt., HSBC Securities & Capital Markets Pvt., and IIFL Securities Ltd. as the book-running lead manager for the issue. Kfin Technologies Ltd. is the IPO registrar.
Use Of Proceeds
Since the Hexaware Technologies IPO is entirely an OFS, the proceeds from the public offer will go directly to the shareholders selling their stakes. The company will not receive any money from the IPO.
About Hexaware Technologies Ltd.
Hexaware Technologies Ltd. is an IT consulting company offering global digital and technology services. Its services include IT, business process outsourcing, cloud computing, data analytics and artificial intelligence solutions.
The company, incorporated in 1992, has offshore delivery centres located in Pune, Chennai, Bengaluru, Noida and Sri Lanka. It was acquired by global investment firm Carlyle Group Inc. in 2021 from Baring Private Equity Asia.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
