How To Check Hexaware Technologies IPO Allotment Status — Check GMP Today

The initial public offering of Hexaware Technologies Ltd. was subscribed 2.66 times on its third and last day of bidding on Friday. According to NSE's consolidated data, the Rs 8,750-crore IPO received bids for 24,28,44,966 shares against 9,14,23,354 shares on offer.

Non-institutional investors subscribed 0.20 times the offer, while Qualified Institutional Buyers (QIBs) booked the issue 9.09 times. The portion for Retail Individual Investors (RIIs) was subscribed 0.11 times whereas the employees' quota was booked 0.32 times.

The IPO of Hexaware Technologies was fully subscribed on its final day after a tepid response on the first two days during which the issue was subscribed 4% and 16%, respectively.

The price band for the IPO had been set in the range of Rs ⁠674 to Rs 708 per share. The market value at the upper end of the price band is Rs 43,025 crore, as per NDTV Profit's calculations. Bids were to be made for a minimum of 21 shares, and then in multiples thereof.

According to the red herring prospectus, the IPO consists of only an offer for sale worth Rs 8,750 crore. The OFS will entail sale of equity by the company's promoter CA Magnum Holdings.

The allotment for the Hexaware Technologies IPO will be finalised on Monday, February 17 and the company will list on the BSE and the National Stock Exchange on Wednesday, February 19.

Kotak Mahindra Capital Co., Citigroup Global Markets India Pvt., JPMorgan India Pvt., HSBC Securities and Capital Markets (India) Pvt. and IIFL Securities Ltd. are the book-running lead managers to the issue. KFin Technologies Ltd. is the registrar to the offer.

Investors can check the Hexaware Technologies IPO allotment status on the official website of the registrar for the IPO, KFin technologies Ltd. or on BSE/NSE website.

• Go to the official BSE website at https://www.bseindia.com/investors/appli_check.aspx

• Select the issue type as 'Equity.'

• Choose 'Hexaware Technologies Limited' from the dropdown menu.

• Enter your application number or PAN (Permanent Account Number).

• Complete the 'Captcha' for verification.

• Click on the 'Search' button to view your allotment status.

• Visit the IPO allotment page on the NSE website here: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

• Select 'Equity & SME IPO bid details'.

• Select the company symbol 'HEXT' in the dropdown list.

• Enter PAN details and Application Number.

• Click on the Submit button to verify your share allotment status.

• Visit the official website of KFin Technologies here - https://ris.kfintech.com/ipostatus/.

• Click on any of the links to view IPO Allotment Status.

• Choose 'Hexaware Technologies Limited' from the list of companies. (The name will be displayed once the share allocation is finalised)

• In the verification selection type, choose either PAN, Application Number,Demat Account.

• Enter the required information.

• Fill in and verify the Captcha.

• Finally, click the 'Submit' button to check your allotment status.

The grey market premium of Hexaware Technologies IPO continued its declining trend when the issue closed for subscription. The latest GMP was Rs 1 recorded at 9:58 a.m. on February 17, marking a premium of over 0.14% over the issue price. Unlisted shares of digital and technology services company Hexaware Technologies Ltd. were trading at Rs 709 apiece in the grey market.

According to InvestorGain, the GMP of Hexaware Technologies was as high as Rs 727 when the company confirmed the price band for the issue. GMP continued its declining trend to Rs 3.5 ahead of its opening on Day 1. The grey market rate continued to slide further and was Rs 2.5 on February 14, when the issue closed for subscription.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

In November 2020, Hexaware Technologies' shares were delisted from the Indian stock exchanges after the company's promoters agreed to a delisting price of Rs 475 per share. This marked the first successful delisting on Indian bourses since December 2018.

A year later, in October 2021, the Carlyle Group, a US-based private equity firm, acquired a majority stake in Hexaware from Baring Private Equity Asia for approximately $3 billion.

The company filed its draft papers for the book-built public issue in September last year, initially planning to raise Rs 9,950 crore. The offer size was later reduced.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.