Two major IPOs have hit the market this week – Hexaware Technologies and Quality Power Electrical Equipments. One is a major player in the tech sector, while the other a player in the power sector. As both the IPOs are a mainboard issue, let’s take a detailed look at both these issues.
Hexaware Technologies Vs Quality Power IPO: GMP trend
In the grey market, Hexaware Technologies, on its second day of subscription, is trading at a premium of Rs 3, indicating a listing price of Rs 711 per share, just 0.42% higher than the upper price band.
On the other hand, Quality Power IPO shares, ahead of their opening, are trading at a premium of Rs 28 in the grey market, indicating a listing price of Rs 453, up 6.59% over the upper price band.
However, it is to note that GMP is not the actual listing price and may fluctuate based on market sentiment.
Hexaware Technologies Vs Quality Power IPO: Size and fundraising
Both a mainboard issue, Hexaware Technologies IPO is a Rs 8,750 crore issue, but the entire amount is an OFS. This means no fresh capital is coming into the company as existing investors are selling their stake.
On the other hand, Quality Power IPO is a Rs 858.70 crore IPO. This includes a fresh issue of Rs 225 crore, which the company will use for growth, and an OFS of Rs 633.70 crore.
Hexaware Technologies Vs Quality Power IPO: IPO dates & listing timeline
Hexaware Technologies IPO opened for bidding on February 12, and will close on February 14. The issue is expected to list on the stock exchanges on February 19.
Quality Power IPO is set to open tomorrow, February 14, and will close on February 18. The expected listing date is February 21.
Both the IPOs will be listed on the Indian bourses – BSE and NSE.
Hexaware Technologies Vs Quality Power IPO: Price band and minimum investment
The price band of Hexaware Technologies IPO is set between the range of Rs 674 to Rs 708 per share. The minimum investment for retail investors is Rs 14,154. On the other hand, Quality Power IPO has a price band of Rs 401 to Rs 425 per share, with a minimum investment for retail investors at Rs 10,426.
Hexaware Technologies Vs Quality Power IPO: Anchor investment
Hexaware ahead of the opening of the issue on February 12 has raised Rs 2,598 crore from anchor investors. Quality Power’s anchor book details are yet to be disclosed.
Hexaware Technologies Vs Quality Power IPO: Lead managers and registrar
When it comes to managing an IPO , Hexaware Technologies IPO is managed by Kotak Mahindra Capital, Citigroup Global Markets, J.P. Morgan India, HSBC Securities, and IIFL Securities, with Kfin Technologies Limited as the registrar handling share allotments and refunds.
On the other hand, the Quality Power IPO is led by Pantomath Capital Advisors as the sole book-running lead manager, while Link Intime serves as the registrar.
Hexaware Technologies Vs Quality Power IPO: About the companies
Hexaware Technologies is an IT services and digital solutions company and helps businesses with AI, cloud computing, cybersecurity, and automation.
Meanwhile, Quality Power is in the electrical and power infrastructure sector and manufactures high voltage equipment for energy transmission and distribution.