• Source:JND
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Hexaware IPO Subscription Status:  Hexaware Technologies Ltd's Rs 8,750 crore initial public offering (IPO), the largest IPO by an IT company in two decades, was fully subscribed on the last day of bidding on Friday, February 14. The IPO, which opened on February 12, did not see much interest in the first two days but gained momentum, especially from qualified institutional buyers (QIBs), with the total subscription increasing 2.66 times.

According to NSE data, the IPO received bids for 24,28,26,570 shares against 9.14 crore shares on offer till 4:57 pm on the final day of bidding i.e. February 14.

QIBs dominated the subscription as it received 9.09 times the subscription against the total reserved shares for the category. In contrast, non-institutional investors (NIIs) showed limited interest, with their category being subscribed by just 20% or 0.20 times.

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The retail segment witnessed minimal participation, with only 11% or 0.11 times of the 4.49 crore shares allotted to retail investors being subscribed. Similarly, the employee quota was subscribed by 32%.

After the bidding process concludes, Hexaware Technologies will announce the share allotment status on Monday, February 17. Investors can check their allotment status on the issue registrar Caffeine Technologies as well as on the websites of NSE and BSE.

The IPO, the biggest in the IT sector after Tata Consultancy Services' Rs 4,700-crore public offering two decades ago, is a milestone for Hexaware Technologies despite a mixed response from investor circles.

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