Hexaware Technologies is launching an IPO with a book-built issue size of ₹8,750 crore, consisting entirely of an offer for sale of 12.36 crore shares. The IPO will open for subscription on February 12, 2025, and close on February 14, 2025. Allotment results are expected to be finalised on February 17, 2025, with the listing scheduled for February 19, 2025, on BSE and NSE.
The IPO price band is set between ₹674 and ₹708 per share. For retail investors, the minimum investment amount is ₹14,868 for a lot size of 21 shares. Small and Non-Institutional Investors (sNII) need to apply for 14 lots (294 shares) amounting to ₹2,08,152, while the Big Non-Institutional Investors (bNII) must apply for 68 lots (1,428 shares), totaling ₹10,11,024.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets, J.P. Morgan India, HSBC Securities & Capital Markets Pvt Ltd, and IIFL Securities Ltd are the book running lead managers, while Kfin Technologies Limited is the registrar for the issue.
Industry Outlook
- The global Cloud and Infrastructure Services market is projected to grow at a CAGR of 7.5%, reaching ₹24.3-25.1 trillion (US$ 290.5-300.5 billion) by 2029. This growth is driven by increased demand for digital services, which will help Hexaware Technologies expand its cloud-based offerings and cater to evolving market needs.
- India's market for outsourced services is expected to reach ₹1.9 trillion (US$ 22.6 billion) in CY2024, with initiatives like BharatNet and UPI driving digital adoption. Hexaware, with its AI-driven platforms like Tensai® and Amaze®, is well-positioned to support India’s growing tech ecosystem and leverage the expanding internet penetration to drive business growth.
Hexaware Technologies IPO Objectives
The company will not receive any proceeds from the Offer, as all proceeds will go to the Promoter Selling Shareholder in proportion to their shares offered.
About Hexaware Technologies Limited
Hexaware Technologies Limited is a global digital and technology services provider with artificial intelligence (AI) at its core. The company focuses on delivering innovative solutions that help clients undergo digital transformation and optimise operations. Hexaware's AI-driven platforms, including RapidX™, Tensai®, and Amaze®, support digital transformation, AI-powered automation, and cloud adoption.
Hexaware operates across 6 key industries: Financial Services, Healthcare and Insurance, Manufacturing and Consumer, Hi-Tech and Professional Services, Banking, and Travel and Transportation. Its service offerings cover Design and Build, Secure and Run, Data and AI, Optimise, and Cloud Services, addressing diverse business needs.
The company serves clients globally, including 31 Fortune 500 organisations. Notable customers include top asset management firms, global life sciences companies, major insurers, and leading banks. Hexaware’s customer-first approach is reflected in its high Net Promoter Score (NPS) of 72 in 2024, an 18-point improvement from the previous year.
Hexaware's workforce spans 39 delivery centers in 28 countries, with over 32,000 employees. The company’s growth is evident with revenues exceeding US$1,000 million in both 2022 and 2023. Recognised as the fastest-growing brand in IT services, Hexaware’s revenue grew at a CAGR of 13.7% from FY2021 to FY2023, outpacing the global industry’s growth.
How To Check the Allotment Status of Hexaware Technologies IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Hexaware Technologies IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Hexaware Technologies IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Hexaware Technologies IPO
Registered office: 152, Millennium Business Park, Sector III, ‘A’ Block, TTC
Industrial Area, Mahape, Navi Mumbai, Maharashtra - 400 710, India
Phone: (+91) 22 3326 8585
E-mail: investori@hexaware.com
Hexaware Technologies IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares |
Not more than 50% of the Net Offer |
|
Retail Shares |
Not less than 35% of the Net Offer |
|
NII (HNI) Shares |
Not less than 15% of the Net Offer |
Hexaware Technologies IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
21 |
₹14,868 |
|
Retail (Max) |
13 |
273 |
₹1,93,284 |
|
S-HNI (Min) |
14 |
294 |
₹2,08,152 |
|
S-HNI (Max) |
67 |
1,407 |
₹9,96,156 |
|
B-HNI (Min) |
68 |
1,428 |
₹10,11,024 |
Hexaware Technologies IPO Promoter Holding
The promoter of the company is CA Magnum Holdings.
|
Share Holding Pre-Issue |
95.03% |
|
Share Holding Post Issue |
- |
Key Performance Indicators for Hexaware Technologies IPO
|
KPI |
Value |
|
RoNW (%) |
23.6% |
|
PAT Margin |
9.60 |
Hexaware Technologies IPO Prospectus
Hexaware Technologies IPO Registrar and Lead Managers
Hexaware Technologies IPO Book Running Lead Managers
- Kotak Mahindra Capital Company Limited
- Citigroup Global Markets India Private Limited
- J.P. Morgan India Private Limited
- Hsbc Securities & Capital Markets Pvt Ltd
- Iifl Securities
Registrar for Hexaware Technologies IPO
Kfin Technologies Limited
- Contact Number:04067162222, 04079611000
- Email Address: hexaware.ipo@kfintech.com
Hexaware TechnologiesIPO Registrar
Financial Performance of Hexaware Technologies Limited
| Particulars | Period ending September 30, 2024 | Year ending on December 31, 2023 | TYear ending on December 31, 2022 |
|---|---|---|---|
| Revenue from Operation (in ₹ million) | 88,200 | 103,803 | 91,996 |
| Profit After Tax (PAT) (in ₹ million) | 8,533 | 9,976 | 8,842 |
| EPS (Earnings per Share in ₹) | 14.12 | 16.45 | 14.65 |
| Cash and cash equivalents (in ₹ million) | 13,357 | 17,734 | 12,916 |
| Return on Net Worth (%) | 17.6 | 23.6 | 23.4 |
| Net Worth (in ₹ million) | 48,760 | 42,309 | 37,781 |
Know before investing
Strengths
5Hexaware serves 31 Fortune 500 companies, demonstrating strong market presence.
Revenue from over US$5,000 million customers contributes 62% of earnings.
AI platforms RapidX™, Tensai®, and Amaze® drive digital transformation opportunities.
Over 32,500 employees support innovative solutions across 6 industries.
Hexaware's focus on new customers spans across America, Europe, and APAC.
Risks
5Adverse economic changes in key regions could impact business and growth.
Revenue from 'Financial Services' and 'Healthcare and Insurance' segments is critical.
Failure to attract and retain skilled professionals may hinder growth.
Competition for skilled personnel is intense across multiple industries and regions.
Reduced outsourcing budgets could impact pricing and demand for services.
Hexaware Technologies Limited Peer Comparison
| Company Name | Face Value per Equity Share (₹) | P/E (Number of Times) | EPS (Basic) (₹) | RoNW (%) |
|---|---|---|---|---|
| Hexaware Technologies Limited | 1 | [•] | 16.45 | 23.6 |
| Persistent Systems Limited | 5 | 84 | 72.44 | 22.1 |
| Coforge Limited | 10 | 64 | 131.56 | 23.0 |
| LTIMindtree Limited | 1 | 38 | 154.85 | 22.9 |
| Mphasis Limited | 10 | 34 | 82.42 | 17.7 |
