Hexaware Technologies Files for Rs 9,950 Crore IPO

Hexaware Technologies, backed by Carlyle Group, has filed for a Rs 9,950 crore IPO, aiming to list shares and carry out an offer for sale. The IPO, fully an offer for sale by CA Magnum Holdings, could be the largest IT sector public issue since TCS's IPO. The company provides digital and technology services globally.

Hexaware Technologies, under the wing of private equity giant Carlyle Group, has moved forward with plans to go public, filing for a Rs 9,950 crore IPO with the markets regulator Sebi.

This initial public offering (IPO) is entirely an offer for sale (OFS) by CA Magnum Holdings, which holds a 95.03% stake in Hexaware. Consequently, all proceeds will go to the selling shareholder.

Hexaware intends for its listing not only to benefit equity shares but also to facilitate the OFS for its shareholder. If successful, this will mark the largest IT sector IPO since Tata Consultancy Services' Rs 4,700 crore issuance approximately 20 years ago.