Hexaware Technologies IPO: The initial public offering (IPO) of Hexaware Technologies, a company related to the IT sector, is about to be launched. For this, the company has filed draft papers with the Securities and Exchange Board of India (SEBI). According to this, the promoters will sell shares worth ₹ 9950 crore through the IPO.
Who has got the responsibility
Hexaware Technologies, promoted by US private equity firm Carlyle, has hired Kotak Investment Banking, Citi Global Markets, J.P. Morgan, HSBC Securities and Capital Markets, besides IIFL Securities to manage the share sale. Hexaware’s IPO will be the largest in the country’s information technology services sector since Tata Consultancy Services’ Rs 4,713 crore initial share sale more than two decades ago.
About the Company
In 2021, Carlyle acquired Hexaware from Baring Private Equity Asia (now EQT) for around $3 billion. This became the largest private equity deal ever in India. If Hexaware’s listing plan is successful, it will return to the domestic stock exchanges after 4 years.
NSE data shows that it was initially listed on June 14, 2002. Before Carlyle acquired Hexaware, its shares were delisted by the previous promoter Baring Private Equity Asia.
Carlyle holds 95.03% stake
Carlyle holds a 95.03% stake in Hexaware Technologies. The company provides a variety of services such as IT, business process outsourcing, cloud computing, data analytics and artificial intelligence solutions. There are plans to list the equity shares on both BSE and National Stock Exchange. Let us tell you that this company first issued shares in November 1992. It privately sold a total of 80 shares to seven shareholders at a face value of ₹ 10 per share.
