Grey Market Trends of Hexaware Technologies IPO; All Details Here

The IPO of Hexaware Technologies is set to open on February 12 and will close on February 14. The price band has been fixed in the range of ₹674 to ₹708 apiece. The lot size consists of 21 equity shares.

About 50% of the equity shares have been allocated towards qualified institutional buyers (QIB), while 15% are reserved for non-institutional investors (NII). Close to 35% have been allocated to retail investors. A sizable portion of equity shares, valued at ₹900 million have been set aside for employees with a discount of ₹67 apiece.

Shares of Hexaware Technologies IPO will be allocated on February 17, following which refunds will be initiated on February 18. The shares will be credited to the demat accounts of investors on the same day. The company is expected to go public on February 19.

Hexaware Technologies IPO GMP today

The grey market premium (GMP) of Hexaware Technologies IPO is +8, which means that share price was trading at a premium of ₹8 in the grey market, mentioned investorgain.com.

Taking account of the upper end of the IPO price band and the current premium in the grey market, listing price of Hexaware Technologies is estimated at ₹716 apiece, 1.13% higher than the IPO price of ₹708. The highest GMP was recorded at ₹19.

IPO Details

The IPO is entirely an offer-for-sale (OFS) valued at ₹8,750 crore. The entire proceeds from the IPO will go to CA Magnum Holdings, which is a part of Carlyle Group Inc, the promoter of Hexaware Technologies. CA Magnum Holdings holds 95.035 stake in the company.

About Hexaware Technologies

Hexaware Technologies is a technology company engaged in delivering creative solutions, while also overseeing business functions across six sectors including Financial Services, Healthcare and Insurance, Manufacturing and Consumer, Hi-Tech and Professional Services, Banking, and Travel and Transportation.