Hexaware Technologies Shares Soar Over 5% on Stock Market Debut

Hexaware Technologies Ltd shares debuted with a 5% premium on Wednesday. The IPO was fully subscribed, with Rs 8,750 crore worth shares sold by promoter CA Magnum Holdings. The stock rallied on both BSE and NSE, marking the largest IPO in India's IT services sector since TCS's offering.

Shares of Hexaware Technologies Ltd opened strongly on Wednesday, listing at a premium of over 5% above the issue price of Rs 708.

The stock commenced trading at Rs 731, a 3.24% increase on the BSE, later surging to Rs 780, a rise of 10.16%. On NSE, it listed at Rs 745.50, advancing 5.29%.

The fully subscribed IPO had a price band of Rs 674-708 per share, with institutional buyers showing significant interest. As a complete Offer for Sale by CA Magnum Holdings, the proceeds will benefit the Carlyle Group, marking a milestone as the largest IT services IPO in India since TCS.

(With inputs from agencies.)