Hexaware Technologies IPO: A Landmark in IT Services

Hexaware Technologies Ltd's IPO received 15% subscription on its second day. The Rs 8,750-crore offering features a price band of Rs 674-708 per share, valuing the company at over Rs 43,000 crore. The IPO represents a complete Offer for Sale by CA Magnum Holdings, part of the Carlyle Group.

Hexaware Technologies Ltd's initial public offering (IPO) garnered 15% subscription by the end of its second day of bidding, according to data from the National Stock Exchange (NSE). The IPO involves 9.14 crore shares, with bids for approximately 1.38 crore shares received.

The subscription breakdown reveals a 39% interest from Qualified Institutional Buyers (QIBs), while Retail Individual Investors (RIIs) subscribed only 6% and Non-Institutional Investors secured a 3% subscription. The company successfully raised Rs 2,598 crore from anchor investors prior to the offer's conclusion on Friday.

Hexaware's Rs 8,750-crore IPO, a significant Offer for Sale (OFS) by CA Magnum Holdings of the Carlyle Group, proposes a price band of Rs 674-708 per share, which positions the company's valuation at over Rs 43,000 crore. The issue, set to list on BSE and NSE, marks the largest IPO in the Indian IT services sector since Tata Consultancy Services' debut.