Hexaware Technologies IPO: A Landmark in India's IT Sector

Hexaware Technologies, backed by Carlyle Group, launched its IPO, receiving 3% subscription on the first day. The issue is a complete Offer for Sale, valued at Rs 8,750 crore with a price band of Rs 674-708 per share. It's the largest IT sector IPO since Tata Consultancy Services.

Hexaware Technologies Limited, under the aegis of private equity giant Carlyle Group, has launched its Initial Public Offering, marking a notable event in India's IT landscape. The IPO, valued at a staggering Rs 8,750 crore, saw 3% subscription on its first day of bidding.

According to data from the National Stock Exchange, 30,78,369 shares were bid against the 9,14,23,354 shares available. The segment allocated for Qualified Institutional Buyers recorded a 4% subscription, matching that of Retail Individual Investors, while contributions from non-institutional investors stood at 1%.

This IPO, set to conclude on February 14, stands as the largest in India's IT services domain since Tata Consultancy Services' significant offering over twenty years ago. Managed by an array of prominent financial entities, these shares are poised for listing on Mumbai's leading exchanges, the BSE and NSE.