Hexaware Technologies IPO opens: GMP, date, review, minimum investment, other details. Apply or not?

Hexaware Technologies IPO: The initial public offering (IPO) of Hexaware Technologies Limited has hit the Indian primary market today and will remain open until 14 February 2025, i.e. Friday. The company has declared Hexaware Technologies IPO price band at ₹674 to ₹708 per equity share, and the book build issue generated ₹2,598 crore from the anchor investors. The public issue is proposed for listing on the BSE and the NSE. The company aims to raise ₹8,750 crore from the initial offer, which is entirely offered for sale (OFS). Meanwhile, company shares are available in the grey market before the Hexaware Technologies IPO subscription opens. According to stock market observers, Hexaware Technologies shares are available at a premium of ₹2 in today’s grey market. Hexaware Technologies IPO lot size is 21 company shares, meaning the minimum investment a retail investor can make in this IPO is ₹14,868 ( ₹708 x 21).

Hexaware Technologies IPO subscription status

By 11.03 AM on day 1 of bidding, the book build issue had been subscribed 0.01 times, whereas its retail portion had been booked 0.01 times.

Hexaware Technologies IPO details

1] Hexaware Technologies IPO GMP: According to stock market observers, Hexaware Technologies shares are available at a premium of ₹2 in the grey market today.

2] Hexaware Technologies IPO date: The public issue has opened today and will remain open until 14 February 2025, i.e. Friday.

3] Hexaware Technologies IPO price: The company has offered its shares in the primary market at ₹674 to ₹708 per equity share.

4] Hexaware Technologies IPO size: The company aims to raise ₹8,750 crore from the initial public offering (IPO), which is entirely an offer for sale (OFS).

5] Hexaware Technologies IPO lot size: A bidder can apply in lots; one lot comprises 21 company shares.

6] Hexaware Technologies IPO minimum investment: The minimum amount required to apply for the book build issue is ₹14,868 ( ₹708 x 21).

7] Hexaware Technologies IPO allotment date: The most likely date for the share allocation is 15 February 2025, i.e. Saturday. However, in case of any delay in the finalisation of the share allotment, one can expect the completion of the allotment process on Monday next week.

8] Hexaware Technologies IPO Lead Managers: Kotak Mahindra Capital, Citigroup Global Markets India, JP Morgan India, HSBC Securities, and IIFL Securities have been appointed lead managers of the book build issue.

9] Hexaware Technologies IPO listing date: The book build issue is proposed for listing on the BSE and the NSE, and the likely date for share listing is 19 February 2025, i.e. Wednesday next week.

Hexaware Technologies IPO: Apply or not?

10] Hexaware Technologies IPO Review: Assigning a ‘subscribe’ tag to the public issue, Abhishek Pandya, Research Analyst at StoxBox, said, “The issue is valued at a price-to-earnings (P/E) ratio of 43.1x on the upper price band based on CY23 earnings, which is relatively cheaper compared to its peers. Considering the above compelling factors, we recommend a “SUBSCRIBE” rating for this issue.”

Anand Rathi has also assigned a ‘buy’ tag to the public issue: “Hexaware Technologies business has evolved over the last decade, with a growing set of offerings, larger and diversified customer base, wider global delivery footprint and higher focus on innovation and technology. Its expertise is further complemented by a mix of strategic and industry-focused partners, such as ServiceNow, which offers AI-powered solutions for various business functions such as human resources, IT, customer service, security and finance, and Backbase, a banking financial technology company in the Netherlands. At the upper price band, the company is valued at a P/E of 43.1x with a market cap of ₹430,247 million post-issue of equity shares and a return on net worth of 22.8%. On the valuation front, the company is fairly priced. Thus, we recommend a “SUBSCRIBE” rating for the IPO.”

Marwadi Shares and Finance and SBI Capital Securities have also suggested applying to the book build issue.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.