Hexaware Technologies IPO GMP Trends: Key Insights Ahead of February 12 Launch

Hexaware Technologies’ ₹8,750 crore IPO, backed by Carlyle, opens on February 12 with a price band of ₹674-708 per share. The IPO is entirely an Offer-for-Sale, with shares set to list on BSE and NSE on February 19. The Grey Market Premium (GMP) stands at ₹8, indicating a slight 1.13% premium over the issue price.

CONTENTS:

• Hexaware Technologies IPO GMP: Grey Market Trends Ahead of February 12 Launch
• Ajax Engineering, Hexaware Among Nine Upcoming IPOs This Week | Details

Hexaware Technologies IPO GMP Trends: Key Insights Ahead of February 12 Launch

Hexaware Technologies IPO GMP: Grey Market Trends Ahead of February 12 Launch

Hexaware Technologies IPO GMP Trends: Key Insights Hexaware Technologies, backed by Carlyle, is set to launch its IPO on Monday, February 12, with a closing date of Wednesday, February 14. The allocation details for anchor investors will be disclosed on Tuesday, February 11. The IPO price range has been set between ₹674 and ₹708 per share, with a lot size of 21 shares and multiples thereof. The company’s shares are expected to be listed on BSE and NSE on February 19.

Company Overview: Hexaware Technologies IPO GMP Trends: Key Insights

Hexaware Technologies, a global provider of digital and technology solutions driven by artificial intelligence (AI), helps businesses navigate digital transformation across six key sectors:

• Financial Services
• Healthcare & Insurance
• Manufacturing & Consumer
• Hi-Tech & Professional Services
• Banking
• Travel & Transportation

The company delivers solutions across five main categories: Design & Build, Secure & Run, Data & AI, Optimize, and Cloud Services.

Comparable Peers: Hexaware Technologies IPO GMP Trends: Key Insights

According to its red herring prospectus (RHP), Hexaware Technologies’ listed peers include:

• Persistent Systems Ltd (P/E ratio: 84x)
• Coforge Ltd (P/E ratio: 64x)
• LTIMindtree Ltd (P/E ratio: 38x)
• Mphasis Ltd (P/E ratio: 34x)

IPO Allocation Breakdown: Hexaware Technologies IPO GMP Trends: Key Insights

• QIB (Qualified Institutional Buyers): Up to 50%
• NII (Non-Institutional Investors): At least 15%
• Retail Investors: Minimum of 35%
• Employee Reservation: ₹900 million worth of shares at a ₹67 discount per share

The basis of allotment will be finalized on February 17, with refunds initiated on February 18. Allotted shares will be credited to demat accounts on the same day.

Grey Market Premium (GMP) Trends

As of today, Hexaware Technologies’ IPO GMP stands at ₹8, indicating that shares are trading at ₹716 in the grey market, reflecting a 1.13% premium over the upper IPO price of ₹708. However, GMP has been trending downward, with values fluctuating between ₹8 and ₹19 over the last five sessions, suggesting weakening investor sentiment.

IPO Structure and Lead Managers

The IPO is entirely an Offer-for-Sale (OFS) of shares worth ₹8,750 crore by promoter CA Magnum Holdings, a Carlyle Group entity. The OFS size was reduced from the initial ₹9,950 crore stated in earlier filings. Consequently, all IPO proceeds (excluding offer expenses) will go to the selling shareholder. Carlyle currently holds a 95.03% stake in Hexaware Technologies, with the remaining shares owned by the public.

The book-running lead managers for the IPO are:

• Kotak Mahindra Capital Company
• Citigroup Global Markets India
• JP Morgan India
• HSBC Securities and Capital Markets (India)
• IIFL Capital Services

Ajax Engineering, Hexaware Among Nine Upcoming IPOs This Week | Details

The primary market is set for a busy week, with nine Initial Public Offerings (IPOs) and six listings scheduled between February 10 and February 17, 2025.

Mainboard IPOs This Week: Hexaware Technologies IPO GMP Trends: Key Insights

1) Ajax Engineering

• Industry: Concrete equipment manufacturing
• IPO Period: February 10 – February 12
• Price Band: ₹599-629 per share
• Issue Type: Offer-for-Sale (OFS) of 2.01 crore equity shares
• Key Stakeholder Selling Shares: Kedaara Capital Fund II LLP

2) Hexaware Technologies

• Industry: IT services
• IPO Period: February 12 – February 14
• Price Band: ₹674-708 per share
• Issue Type: OFS worth ₹8,750 crore
• Promoter Selling Shares: CA Magnum Holdings (Carlyle Group entity)

3) Quality Power Electrical Equipments

• Industry: High-voltage electrical equipment
• IPO Period: February 14 – February 18
• Issue Type:
  • Fresh issue of ₹225 crore
  • OFS of 1.49 crore shares

SME IPOs This Week

1) Chandan Healthcare

• Industry: Pathology and radiology services
• IPO Period: February 10 – February 12
• Price Band: ₹151-159 per share
• Issue Type:
  • Fresh issue: ₹70.79 crore (44.52 lakh shares)
  • OFS: ₹36.57 crore (22.99 lakh shares)

2) PS Raj Steels

• Industry: Stainless steel pipes and tubes
• IPO Period: February 12 – February 14
• Price Band: ₹132-140 per share
• Issue Size: ₹28 crore

3) Voler Car

• Industry: Employee transportation services
• IPO Period: February 12 – February 14
• Price Band: ₹85-90 per share
• Issue Size: ₹27 crore

4) Maxvolt Energy Industries

• Industry: Lithium-ion batteries for EVs and energy storage
• IPO Period: February 12 – February 14
• Issue Size: ₹54 crore

5) LK Mehta Polymers

• Industry: Plastic product manufacturing
• IPO Period: February 13 – February 17
• Issue Size: ₹7.38 crore
• Price: ₹71 per share

6) Shanmuga Hospital

• Industry: Multispecialty healthcare
• IPO Period: February 13 – February 17
• Issue Size: ₹20.62 crore
• Price: ₹54 per share

IPOs Closing This Week

• Solarium Green Energy & Readymix Construction Machinery: Closing on February 13
• Eleganz Interiors: Closing on February 14

Upcoming Listings This Week: Hexaware Technologies IPO GMP Trends: Key Insights

• Chamunda Electricals: February 11 (NSE Emerge)
• Ken Enterprises & Amwill Healthcare: February 12 (NSE Emerge & BSE SME)
• Solarium Green Energy & Readymix Construction Machinery: February 13 (BSE SME & NSE Emerge)
• Eleganz Interiors: February 14 (NSE Emerge)

Investors are advised to review IPO details carefully and consult financial experts before making investment decisions.