Hexaware Technologies IPO Opens Tomorrow: Key Details, GMP Trends, and Market Outlook

Hexaware Technologies’ ₹8,750 crore IPO opens on February 12 with a price band of ₹674-708 per share, entirely an Offer-for-Sale by Carlyle-backed CA Magnum Holdings. The IPO has a low Grey Market Premium (GMP) of ₹3.5, indicating a modest listing gain. Investors should evaluate financials, peer comparisons, and industry outlook before subscribing.

CONTENTS:

• Hexaware Technologies IPO Opens Tomorrow: Key Details for Investors
• Hexaware Technologies IPO GMP: Grey Market Trends Ahead of February 12 Launch
• Nine IPOs and Six Listings Set for a Busy Week in the Primary Market

Hexaware Technologies IPO Opens Tomorrow: Key Details, GMP Trends, and Market Outlook

Hexaware Technologies IPO Opens Tomorrow: Key Details for Investors

Hexaware Technologies IPO Opens Tomorrow Hexaware Technologies is set to launch its much-anticipated ₹8,750 crore IPO on February 12, marking a significant event in the Indian stock market. If you are considering subscribing, here are eight key details to know before investing.

1. IPO Subscription Timeline

• Opening Date: February 12
• Closing Date: February 14
• Anchor Investor Bidding: February 11
• Share Allotment: Expected by February 17
• Listing Date: Scheduled for February 19 on BSE and NSE

2. Grey Market Premium (GMP)

As per the latest trends, Hexaware’s IPO is trading at a flat GMP of ₹3.5 per share, indicating a potential listing price of ₹711.5 per share, which is 0.49% above the upper price band of ₹708 per share.

3. Price Band and Offer for Sale (OFS)

• The price range is set between ₹674 to ₹708 per share.
• The entire issue is an Offer for Sale (OFS) by CA Magnum Holdings (backed by Carlyle Group).
• No fresh capital will be raised; all proceeds go to the selling shareholders.

4. Minimum Investment & Lot Size

• Retail Investors: Minimum of 21 shares, requiring an investment of:
  • ₹14,154 at the lower band of ₹674
  • ₹14,868 at the upper band of ₹708
• Small Non-Institutional Investors (sNII): Minimum 294 shares (~₹2.08 lakh)
• Big Non-Institutional Investors (bNII): Minimum 1,428 shares (~₹10.11 lakh)

5. Valuation & Financial Performance

• At the upper price band, Hexaware’s valuation stands at ₹43,000 crore.
• For the nine months ending September 2024, the company reported:
  • Revenue: ₹8,820 crore
  • Net Profit: ₹853.3 crore

6. Largest IT IPO Since TCS

Hexaware’s IPO is the biggest in the Indian IT services sector since TCS went public over two decades ago.

7. Lead Managers & Registrars

• Book Running Lead Managers:
  • Kotak Mahindra Capital
  • Citigroup Global Markets
  • J.P. Morgan India
  • HSBC Securities
  • IIFL Securities
• Registrar: Kfin Technologies

8. Business Overview & Global Presence

• Hexaware is a leading IT and digital services firm, specializing in AI and automation.
• It caters to 31 Fortune 500 companies across Americas, Europe, Asia-Pacific, and the Middle East.
• Major offshore delivery centers are in Chennai, Pune, Bengaluru, Noida, and Sri Lanka, with expansion plans into Tier 2 cities.

Hexaware Technologies IPO Opens Tomorrow This IPO presents an opportunity for investors eyeing the fast-growing IT services sector. Make an informed decision based on your risk appetite and investment goals.

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

The Carlyle-backed Hexaware Technologies IPO is set to open for public subscription on February 12 and will close on February 14. The IPO price band has been fixed between ₹674 to ₹708 per share, with allocation details for anchor investors expected on February 11. The company’s shares are anticipated to list on BSE and NSE on February 19.

Grey Market Premium (GMP) Trends: Hexaware Technologies IPO Opens Tomorrow

As of today, Hexaware Technologies IPO is trading at a GMP of ₹3.5 per share, indicating an estimated listing price of ₹711.5 per share—just 0.49% above the upper price band of ₹708 per share.

Recent GMP trends suggest a downward trajectory, with the premium fluctuating between ₹3.5 and ₹19 over the past six sessions. Experts anticipate further movement in GMP leading up to the listing.

Company Overview & Industry Focus: Hexaware Technologies IPO Opens Tomorrow

Hexaware Technologies is a global digital and IT services company leveraging AI-driven solutions. It serves six key industries:

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

The company offers services across five main categories:

• Design & Build
• Secure & Run
• Data & AI
• Optimize
• Cloud Services

Peer Comparison & Valuation

Hexaware Technologies’ comparable listed competitors include:

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

IPO Allotment Structure

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

Offer for Sale (OFS) Details: Hexaware Technologies IPO Opens Tomorrow

The entire ₹8,750 crore IPO consists of an OFS by CA Magnum Holdings, a Carlyle Group entity. No fresh capital will be raised, as all proceeds will go to the selling stakeholder. Notably, the OFS size was reduced from ₹9,950 crore, as per initial draft filings.

Key Dates & Listing Timeline

• Anchor Investor Allocation: February 11
• IPO Subscription: February 12–14
• Allotment Finalization: February 17
• Refunds Initiated & Shares Credited: February 18
• Listing Date: February 19

Lead Managers

The IPO is managed by:

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

Conclusion

Despite a moderate grey market premium, Hexaware Technologies’ IPO remains one of the most significant offerings in the IT services sector. Investors should assess the GMP trends, company fundamentals, and industry outlook before making investment decisions.

Nine IPOs and Six Listings Set for a Busy Week in the Primary Market

The upcoming week, beginning Monday, February 10, 2025, will be an active one for the primary market, with nine Initial Public Offerings (IPOs) and six stock listings scheduled.

Among the notable IPOs are Ajax Engineering, a manufacturer of concrete equipment, and Hexaware Technologies, an IT services firm backed by US-based private equity giant Carlyle. Additionally, Chamunda Electricals will be the first to debut on NSE Emerge on February 11.

Mainboard IPOs This Week: Hexaware Technologies IPO Opens Tomorrow

1. Ajax Engineering
   • Opening Date: February 10
   • Closing Date: February 12
   • Price Band: ₹599-629 per share
   • Issue Size: ₹1,269 crore (Offer-for-Sale by existing shareholders, including Kedaara Capital Fund II LLP)
2. Hexaware Technologies
   • Opening Date: February 12
   • Closing Date: February 14
   • Price Band: ₹674-708 per share
   • Issue Size: ₹8,750 crore (Offer-for-Sale by promoter CA Magnum Holdings)
3. Quality Power Electrical Equipments
   • Opening Date: February 14
   • Closing Date: February 18
   • Issue Structure: Fresh issue of ₹225 crore + Offer-for-Sale of 1.49 crore shares

SME IPOs This Week: Hexaware Technologies IPO Opens Tomorrow

1. Chandan Healthcare (Pathology & Radiology Services)
   • Opening: February 10
   • Closing: February 12
   • Issue Size: ₹104.7 crore
   • Price Band: ₹151-159 per share
2. PS Raj Steels (Stainless Steel Pipes & Tubes Manufacturer)
   • Opening: February 12
   • Closing: February 14
   • Issue Size: ₹28 crore
   • Price Band: ₹132-140 per share
3. Voler Car (Employee Transportation Services)
   • Opening: February 12
   • Closing: February 14
   • Issue Size: ₹27 crore
   • Price Band: ₹85-90 per share
4. Maxvolt Energy Industries (Lithium-ion Battery Manufacturer)
   • Opening: February 12
   • Closing: February 14
   • Issue Size: ₹54 crore
5. LK Mehta Polymers (Plastic Products Manufacturer)
   • Opening: February 13
   • Closing: February 17
   • Issue Size: ₹7.38 crore
   • Price Per Share: ₹71
6. Shanmuga Hospital (Multispecialty Hospital)
   • Opening: February 13
   • Closing: February 17
   • Issue Size: ₹20.62 crore
   • Price Per Share: ₹54

IPOs Closing This Week: Hexaware Technologies IPO Opens Tomorrow

• Solarium Green Energy (Closing on February 13)
• Readymix Construction Machinery (Closing on February 13)
• Eleganz Interiors (Closing on February 14)

Upcoming Stock Listings This Week: Hexaware Technologies IPO Opens Tomorrow

All six listings are from the Small and Medium Enterprises (SME) segment:

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

With multiple IPOs and listings taking place, this week presents numerous opportunities for investors in both the mainboard and SME segments.