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Hexaware Technologies is gearing up for one of the biggest IT sector IPOs in India. The company has announced an initial public offering (IPO) worth ₹8,750 crore, which will open for subscription on 12 February 2025. The price band has been fixed at ₹674 to ₹708 per share.
The IPO is entirely an Offer for Sale (OFS) by its promoter, Carlyle Group, which currently owns around 95% of the company. Post-listing, Carlyle’s stake will be reduced to approximately 74.1%. The IPO will not generate fresh funds for Hexaware but will allow Carlyle to offload part of its holdings.
The public issue will consist of up to 12.46 crore equity shares, making it one of the largest IPOs in the Indian IT services sector.
IPO Timeline and Subscription Details
- IPO Opens: 12 February 2025
- IPO Closes: 14 February 2025
- Anchor Investors Bidding: 11 February 2025
- Basis of Allotment: 17 February 2025
- Refund Initiation: 18 February 2025
- Stock Listing (Tentative): 19 February 2025
Retail investors can bid for a minimum lot of 21 shares, requiring an investment of at least ₹14,868 at the lower price band.
Hexaware Technologies is a global IT services and consulting firm with expertise in cloud computing, artificial intelligence (AI), generative AI (GenAI), and digital transformation. The company has a strong presence in key markets like the United States, Asia-Pacific, and Europe.
In recent years, Hexaware has strengthened its business operations by expanding its Global Capability Centres (GCCs) and adopting AI-driven solutions. The company has positioned itself as a key player in the digital services space, catering to large enterprises across various sectors.
Hexaware’s financials have shown strong growth, making it a compelling investment for IPO subscribers.
- Revenue (FY24): ₹7,000 crore (approx.)
- Profit After Tax (PAT): ₹1,000 crore (approx.)
- CAGR (Last 3 Years): ~15%
With a growing focus on cloud adoption and AI-driven automation, Hexaware is well-positioned for long-term growth in the IT sector.
Carlyle Group acquired Hexaware in 2021 for $3 billion (around ₹22,500 crore). Over the years, it has helped the company expand its global footprint, enhance digital capabilities, and improve operational efficiency. With this IPO, Carlyle aims to partially exit its investment while retaining a significant stake.
Market analysts believe that Hexaware’s IPO could attract strong investor demand due to the company’s established reputation, consistent growth, and presence in emerging tech domains like GenAI, cloud solutions, and automation.
Additionally, the Indian IT sector has seen a strong post-pandemic revival, making IT-focused IPOs highly attractive for institutional and retail investors alike.
If the listing sees positive momentum, Hexaware could join the league of top IT players in the Indian stock market, following the likes of TCS, Infosys, and Wipro.
Hexaware Technologies’ ₹8,750 crore IPO is set to be one of the biggest IT public offerings in recent times. With strong fundamentals, an expanding global presence, and a focus on AI-driven solutions, the company offers an exciting investment opportunity. Investors will be keenly watching how the IPO is received by the market and whether it delivers strong listing gains.
