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Carlyle Group-backed Hexaware Technologies to launch IPO, plans to raise so many thousand crores from the market – AnyTV News

by Aaryan Srivastav
September 7, 2024
Carlyle Group-backed Hexaware Technologies to launch IPO, plans to raise so many thousand crores from the market - India TV Hindi

Photo:FILE IPO

Hexaware Technologies, backed by leading private equity firm Carlyle Group, has filed preliminary papers with capital markets regulator Sebi to launch an initial public offering (IPO) worth Rs 9,950 crore. According to preliminary papers (DRHP) filed on Friday, the initial share sale of the Mumbai-headquartered company is an outright offer for sale (OFS). Promoter CA Magnum Holdings, which is under the Carlyle Group, will sell its stake.

Magnum Holdings holds 95.03 percent stake

CA Magnum Holdings holds a 95.03 percent stake in the IT company. Since the entire issue is an OFS, the entire amount raised from the IPO will go directly to the selling shareholder instead of the company. The company said that it aims to get the benefits of OFS for shareholders listing and selling equity shares on the stock markets.

Biggest IPO possible for IT sector

If this IPO is approved, Hexaware’s IPO will be the biggest in the country’s information technology services sector in more than two decades. Earlier, Tata Consultancy Services had brought an IPO of Rs 4,713 crore. According to the company’s draft red herring prospectus, the company’s competitors include IT midcap companies such as Persistent Systems Limited, LTI Mindtree Limited, Coforge Limited and Mphasis Limited.

As per the DRHP, the company is a global digital and technology services company with artificial intelligence (“AI”) at its core. We manage our business through six operating segments, based on the industries we serve: financial services, healthcare and insurance, manufacturing and consumer, high-tech and professional services, banking, travel and transportation. Our offering consists of five broad services: design and build, secure and operate, data and AI, optimization, and cloud services.

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