Day 2 of Hexaware Technologies IPO: Know All Key Details

The initial public offering (IPO) of Hexaware Technologies has received a weak response from investors so far. As per a National Stock Exchange (NSE) data, the company has received bids for merely 4% of the equity shares, i.e., 3,643,080 equity shares, against the offered 91,423,354 shares, as of 10:30 am on February 13. The IPO opened for subscription on February 12.

While Qualified Institutional Buyers (QIBs) have subscribed to only 4% of the shares reserved for them, Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) have booked at 2% and 5% respectively.

IPO details

Hexaware Technologies IPO valued at ₹8,750 crore, is entirely an offer for sale (OFS), wherein the promoter CA Magnum Holdings is selling its stake. Notably, the company will not receive any proceeds from the offer.

The price band has been fixed between ₹674-708 per share, with a lot size of 21 shares. Investors can place bids for a minimum of 21 shares and in similar multiples. Retail investors are mandated to place bids of 1 lot, which equals to ₹14,868 comprising 21 shares. Retail investors can place maximum bids for 13 lots (273 shares) with investments amounting to ₹1,93,284.

GMP

Shares of Hexaware Technologies traded nearly flat on the grey market on Thursday. The shares were trading at ₹711 apiece, a premium of mere ₹3, or 0.42%.

Listing schedule

The IPO is set to close on February 14, 2025, following which share’s allotment will be finalised on February 17. The shares will be credited to the demat accounts of successful allottees on February 18. Hexaware Technologies is expected to go public on February 19.

About Hexaware Technologies

Hexaware Technologies is a global IT services company that is engaged in providing innovative solutions for customers' digital transformation journeys and ongoing operations.