-1739425591594.webp)
- By Aditya Pratap Singh
- Thu, 13 Feb 2025 11:22 AM (IST)
- Source:JND
Hexawave Technologies IPO: The Rs 8,750 crore initial public offering (IPO) by Hexaware Technologies Ltd has not received much response so far, with the issue already subscribed 0.04 times on the second day of bidding on Thursday. The company had set a price range between Rs 674 and Rs 708 per share, valuing the company at the upper end of the range at Rs 43,025 crore. The minimum bidding will be for 21 shares and thereafter in multiples of 21. The last date for IPO bids is Friday, February 16.
Hexaware IPO Subscription Status Day 2
- As per NSE's date, the IPO was subscribed 0.04 times till 11:06 am on day 2 of bidding i.e. February 13.
- Shares reserved for retail investors got 0.05 times bidding.
- The Qualified Institutional Investors Quota received 0.04 times subscription.
- The shares reserved for Non-Institutional Investors were subscribed 0.02 times
Hexaware IPO GMP
According to Investorgain, the grey market premium (GMP) for Hexaware's IPO was Rs 3 at 10.17 am on Thursday, meaning the shares will be listed at Rs 711 each, or just a premium of 0.42% over the upper end of the price band.
Also Read: Gold Rate Today In Chennai, Hyderabad, Patna, Kolkata, Mumbai And Other Cities; Check Latest 22K/24K
The company's promoter, CA Magnum Holdings, has raised Rs 10,000 through its IPO offer. The Offer for Sale (OFS) of equity shares worth Rs 8,750 crore will be conducted through the IPO. The funds raised through the issue will not go to Hexaware as 100% of the money will be given to the selling promoter.
The Stock Was Delisted In 2020
Hexaware Technologies was delisted from the Indian stock exchanges in November 2020 when the promoters bought back shares at Rs 475 each - the first successful case of delisting here since December 2018.
In October 2021, The Carlyle Group acquired a majority stake in Hexaware from Baring Private Equity Asia for around $3 billion.
The company had filed its draft red herring prospectus in September 2024, initially planning to raise Rs 9,950 crore, but later reduced the issue size to Rs 8,750 crore.
Kotak Mahindra Capital, Citigroup Global Markets India, JP Morgan India, HSBC Securities and IIFL Securities are the lead managers for the offering and KFin Technologies will be the registrar. The equity shares will be listed on both BSE and NSE.