Posted on February 14, 2025, by Niftynews
The Hexaware IPO, which opened on February 12, 2025, is closing today, February 14, 2025. Despite being valued at approximately ₹8,750 crore, the Hexaware IPO has seen a lackluster response from investors, with subscription figures well below expectations.
Hexaware IPO Subscription Status
As of the close of Day 2 (February 13, 2025), the Hexaware IPO had received subscriptions for just 95,74,887 equity shares, against the total 9,14,23,354 shares available for sale. This represents a subscription rate of only 15%—a disappointing result, especially given the scale of the IPO.
The breakdown of investor participation is as follows:
- Qualified Institutional Buyers (QIBs): Only 39% of their reserved portion has been subscribed.
- Non-Institutional Investors (NIIs): A mere 3% has been subscribed.
- Retail Individual Investors (RIIs): Just 6% of the retail portion has been subscribed.
Given these figures, it’s clear that investor sentiment toward the Hexaware IPO is tepid at best, signaling limited excitement around the offering.
Hexaware IPO: Key Details
The Hexaware IPO is an Offer for Sale (OFS), meaning that no funds will be raised by Hexaware Technologies. Instead, CA Magnum Holdings, the promoter, is selling a portion of its stake. As a result, Hexaware Technologies will not benefit from the proceeds of this offering.
The price band for the Hexaware IPO is set between ₹674 and ₹708 per share, with a lot size of 21 shares. Retail investors can bid for a minimum of 21 shares (₹14,868 at the upper price band), or up to 13 lots (273 shares), amounting to a total of ₹1,93,284.
Hexaware IPO: Grey Market Premium (GMP)
On February 14, 2025, Hexaware IPO shares were trading at a GMP of ₹2, or just 0.28% above the upper price band of ₹708. This minimal premium suggests that investor enthusiasm in the unofficial market is low, reinforcing the relatively lukewarm demand observed throughout the subscription period.
For investors looking to gauge the potential upside of the Hexaware IPO, the Hexaware GMP indicates a limited possibility of substantial short-term gains post-listing, as the premium is quite modest.
Hexaware IPO: Expert Reviews
Despite the relatively weak demand during the subscription period, many brokerage firms continue to offer positive reviews for the Hexaware IPO. Well-regarded analysts from Anand Rathi Research, Arihant Capital, and SBI Securities have highlighted the company’s strong presence in Artificial Intelligence (AI) and its leading role in digital transformation services. These firms recommend a long-term investment in the company, as Hexaware Technologies has a strong track record of delivering innovative solutions across industries.
While the Hexaware IPO may not have captured the immediate investor excitement expected, experts believe that Hexaware Technologies remains well-positioned for growth in the ever-evolving field of AI, which continues to drive digital innovation and transformation globally.
Hexaware IPO: Key Dates and Allotment Process
After the subscription period ends today, Hexaware Technologies IPO allotment is expected to be finalized by February 17, 2025. Successful applicants will see their shares credited to their demat accounts by February 18, 2025.
The Hexaware IPO is scheduled to list on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on February 19, 2025, marking the official entry of Hexaware Technologies back into the public market after being delisted in September 2020.
Registrar and Lead Managers for Hexaware IPO
- Registrar: Kfin Technologies
- Lead Managers: Kotak Mahindra Capital Company, Citigroup Global Markets India, J.P. Morgan India, HSBC Securities & Capital Markets, and IIFL Securities
About Hexaware Technologies
Hexaware Technologies is a global player in the field of digital services, with a primary focus on Artificial Intelligence (AI) and digital transformation. The company provides cutting-edge solutions designed to help businesses harness the power of AI to optimize operations, drive growth, and stay competitive in the fast-evolving tech landscape.
Hexaware Technologies is known for its ability to deliver scalable, AI-powered services that enable companies to improve efficiency and innovate faster. By focusing on the integration of AI and emerging technologies, Hexaware Technologies is well-positioned to capitalize on the increasing global demand for digital transformation.
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Conclusion
In summary, the Hexaware IPO has shown weak investor demand, as reflected in the subscription figures and grey market premium. However, analysts remain optimistic about the company’s long-term growth prospects, driven by its leadership in AI and digital transformation. Investors interested in the Hexaware IPO should focus on its potential for long-term growth, especially in the rapidly evolving tech landscape.
