Hexaware Technologies IPO Shares List Highlights: Hexaware Technologies is set to list its shares on the BSE and NSE today, marking its stock market debut. The company’s IPO, which was open from February 12 to 14, with a price band set at Rs 708 per share. The allotment took place on February 18, and today, February 19 is the official listing day. On the final day of bidding, the IPO received an overall subscription of 2.79 times.
Hexaware Technologies IPO listing, Share Price Today Live Updates
Hexaware Technologies IPO listing Live Updates: Lemonn on Hexaware IPO
“Hexaware Technologies debuted on the stock market today, February 19, 2025, with a modest premium. Shares opened at ₹745.50 on the NSE, up 5.3% from the IPO price of ₹708, and at ₹731 on the BSE, a 3.25% rise. The ₹8,750 crore IPO was entirely an offer for sale by promoter CA Magnum Holdings and was subscribed 2.66 times overall. Retail investors showed weak interest, subscribing to just 11% of their quota. Subdued listing was along the expected lines due to weak market conditions and the absence of a grey market premium. Despite being priced attractively relative to peers, broader market weakness led to a muted retail interest and debut,” said Satish Chandra Aluri, Research Analyst at Lemonn.
“HEXW, like Coforge, expanded service offerings and prioritized verticals/clients with larger tech outsourcing spend while diversifying from sub-scale ones such as travel,” said the JM Financial in its report.
Hexaware Technologies IPO listing Live Updates: stock update
By 11:25 AM IST, Hexaware Technologies shares were trading at Rs 750.20, up 2.63% in intraday trade, while on the NSE, the stock was at Rs 744.80, down 0.09%.
Hexaware Technologies IPO listing Live Updates: JM Financial on Hexaware IPO
"HEXW delivered this despite weakness in its Top-5 (1.4% CAGR over CY19-CY23). This broad-based and granular growth profile should lend consistency to future growth as well. We build in 12% USD revenue over CY24-26E. 158 bps EBITDA margin expansion, led by tailing off of non-recurring expenses, should drive 20% EPS CAGR over the same period. Carlyle’s 75% stake (hence future monetisation) could remain an overhang on the valuation. We therefore value the stock at 30x 24M fwd EPS (10% premium to average of mid-cap IT basket’s FY26 PER) to arrive at our TP of INR 820, implying 16% upside from the upper end of the IPO price band (INR 674-708). We initiate coverage with a BUY rating. Headwinds in Top-5, especially Fannie Mae (a top-3 account), could be a key risk to our investment thesis," said JM Financial in its report.
The shares of Hexaware Technologies on BSE opened at Rs 731, up 3.25% and NSE the share of the company opened at 745.50 per share, 5.3% higher than the issue price of Rs 708.
Hexaware Technologies IPO listing Live Updates: Listing timing
Hexaware Technologies shares will take part in the Special Pre-Open Session (SPOS) on Wednesday, February 19, ahead of their stock market debut. Trading is set to begin at 10:00 AM, marking the company’s official listing on the exchanges.
Hexaware Technologies IPO listing Live Updates: Size and structure of the issue
The Hexaware Technologies IPO is a Rs 8,750 crore book-built issue, entirely structured as an Offer for Sale. This means that no new shares are being issued, and the company itself is not raising fresh capital. Instead, 12.36 crore shares are being offloaded by CA Magnum Holdings, an entity backed by The Carlyle Group.
With this IPO, Carlyle Group is reducing its stake in Hexaware Technologies, and the entire proceeds from the sale will go directly to the selling shareholder.
Hexaware Technologies IPO listing Live Updates: Key players of the issue
The book-running lead managers of the Hexaware IPO include Kotak Mahindra, Citigroup Global Markets, J.P. Morgan India, HSBC Securities & Capital Markets, and IIFL Securities.
In addition, KFin Technologies has been appointed as the registrar for the IPO, managing investor applications and allotments.
Hexaware Technologies IPO listing Live Updates: GMP update
Hexaware Technologies shares are showing a muted trend in the grey market. Ahead of the official listing, the company's shares are trading at Rs 0 in the grey market, indicating a listing at the upper price band of Rs 708 per share.
However, this is not the official listing price and may fluctuate based on market sentiment.