• Source:JND
Add as a preferred

Hexaware Technologies Share Price: The shares of Hexaware Technologies made a stock market debut at a premium of 5.3% on the exchanges on Wednesday. The Hexawave shares are listed at Rs 745.5 on the NSE, a rise of 5.3% against the IPO price. At BSE, the stock debuted at Rs 731, a 3.25% premium against the issue's price of Rs 708.

The listing of the Hexaware shares is in line with market expectations as the shares were not trading with high premiums in the unofficial market or grey market. 

The Rs 8,750 initial public offering of Hexaware Technologies was open for subscription between February 12 to February 14. The public issue was not able to attract many investors during its three-day bidding period, getting a total of 2.79 times subscriptions. The IPO was fully subscribed in only one segment.

Retail Individual Quota - 0.11 times or 11 per cent
Qualifies Institutional Buyers Segment- 9.55 times
Non-Institutional Investors Data- 0.21 times or 21 per cent
Employees Quota- 0.33 times or 33 per cent

About Hexaware Technologies IPO

It was an entirely Offer for Sale (OFS) initial share sale of 12.36 crore shares. Hexaware IPO had not included any fresh equity component as Promoter Carlisle sold stake. Retail investors can apply for a minimum lot of 21 shares, for which a minimum investment of Rs. 14,868 investment required.

This issue of Hexaware Technologies was worth a total of Rs 8,750 crores and had fixed the upper price band of the IPO at Rs 708. Retail investors could bid for a minimum of one lot i.e. 23 shares (Hexawave IPO Lot Size), which means, investors had to invest Rs 14,868 to lace a bid. At the same time, retail investors could apply for a maximum of 13 lots i.e. 273 shares.

Also Read: Hexaware IPO Allotment Status: Know How To Check Share Allotment Status Online, Latest GMP, Listing Date And Other Details

Shares reservation

The company had reserved 50% of the total issues share for Qualified Institutional Buyers (QIB). 35% of total shares was reserved for retail investors and 15% of shares were reserved for non-institutional investors (NII).

What does Hexawave Technologies do?

Hexaware Technologies is a global technology and business process services company. The multinational company has 61 offices in more than 19 countries it has a workforce of 31,000 employees and has more than 370 clients.

According to the company's website, Hexaware has achieved an annual revenue of $ 1.3 billion. The core of the company is Artificial Intelligence (AI).

Also Read: Hexaware Technologies IPO Subscribed 2.66 Times On Final Day Of Bidding; Check Bidding Details

Also In News