Hexaware Tech Makes Stock Market Debut; Lists at 5% Premium

Shares of Hexaware Technologies made a muted debut on the bourses on February 19 followed by strong subscriptions of over two times.

The company got listed at a price of ₹745.5 apiece on the NSE, a premium of 5.3% over the issue price. On the BSE, shares of the company opened at a premium of 3.25% at ₹731 apiece. Market capitalisation stood at ₹44,422.48 crore.

The IPO of Hexaware Technologies remained open for subscription between February 12-14, with a subscription rate of 2.66 times. Having a price band between the range of ₹674 - 708 per share, the IPO was valued at ₹8,750-crore. The company raised ₹2,598 crore from anchor investors.

Analysts who are tracking the stock advised the investors to take a long-term approach due to its attractive valuation and growth potential.

Abhishek Pandya, Research Analyst at StoxBox said, “The issue is priced at a price-to-earnings (P/E) ratio of 43.1x based on CY23 earnings, which is relatively lower than its listed peers. Investors who have received an allotment may consider holding their shares for medium to long-term gains.”