Hexaware IPO Sees Robust Demand: Fully Subscribed, Raising Rs 8,750 Crore

Hexaware Technologies Ltd's initial public offering concluded successfully, being fully subscribed with strong support from institutional buyers. The IPO, valued at Rs 8,750 crore, is the largest in India's IT sector in over two decades. The listing includes an Offer for Sale by the promoter deferring proceeds to the selling shareholder.

Hexaware Technologies Ltd's initial public offering (IPO) concluded with impressive demand on its final day, achieving a full subscription at 2.66 times the available shares, with substantial backing from institutional investors.

The Mumbai-based digital technology services company's IPO, valued at Rs 8,750 crore, marks the largest offering within India's IT sector since Tata Consultancy Services' IPO over two decades ago. The IPO attracted bids for 24,28,44,315 shares against the available 9,14,23,354 shares.

While the Qualified Institutional Buyers (QIBs) portion was oversubscribed by 9.09 times, non-institutional investors supported 20 percent of the offering, and retail investors subscribed to 11 percent. As a result, Hexaware Technologies' IPO will be listed on both the BSE and NSE.