Hexaware Technologies' Landmark IPO Launches on Stock Market

Hexaware Technologies Ltd, an IT services firm backed by Carlyle Group, launched a Rs 8,750 crore IPO, the largest in India's IT sector since Tata Consultancy Services' 2004 listing. The IPO consists of an offer for sale of shares by CA Magnum Holdings. Hexaware serves numerous global Fortune 500 customers.

Hexaware Technologies Ltd, backed by investment giant Carlyle Group, commenced its highly anticipated Rs 8,750 crore Initial Public Offering (IPO) this week. The IPO represents the largest-ever offering in India's IT sector since Tata Consultancy Services' IPO in 2004.

The Mumbai-based company mobilized Rs 2,598 crore from key anchor investors, including prominent names such as SBI Mutual Fund, ICICI Prudential, and international entities like Singapore's government. The funds were raised by selling nearly 3.67 crore shares at Rs 708 per share, aimed at qualified institutional buyers and other investors.

Hexaware, a global leader in digital and technology services, promises comprehensive solutions across diverse sectors including finance, healthcare, and transportation. The IPO, structured as an Offer for Sale by CA Magnum Holdings, highlights a significant move for Carlyle Group's stake and marks a new growth chapter for Hexaware on the stock market.

(With inputs from agencies.)