Posted on February 13, 2025, by Niftynews
The Hexaware Technologies IPO, which opened for public subscription on February 12, 2025, has garnered a muted response from investors as of Day 2. Despite the Rs 8,750 crore offering, the IPO has seen only 4% subscription by February 13, 2025 at 10:39 AM, with bids for 3,643,080 equity shares against a total of 91,423,354 shares on offer.
Hexaware Technologies IPO Subscription Status on Day 2
As of the morning session on Day 2, the IPO’s subscription data reveals a slow uptake from investors. The details are as follows:
- Qualified Institutional Buyers (QIBs): Subscribed to 4% of the category reserved for them.
- Non-Institutional Investors (NIIs): Subscribed to 2%.
- Retail Individual Investors (RIIs): Subscribed to 5%.
While the retail category has shown slightly better interest, the overall subscription remains low. Investors are advised to monitor the subscription closely as the final date of subscription, February 14, 2025, approaches.
Hexaware Technologies IPO Details
- Price Band: Rs 674 – Rs 708 per share
- Lot Size: 21 shares
- Minimum Bid: 21 shares (one lot)
- Maximum Bid: 13 lots, or 273 shares
At the upper end of the price band (Rs 708), a retail investor needs to invest Rs 14,868 for one lot of 21 shares. Investors can bid for up to 13 lots, amounting to Rs 1,93,284. This is a significant investment for retail investors, which might be contributing to the current lukewarm response.
Hexaware Technologies IPO Grey Market Premium (GMP)
As of Day 2, Hexaware Technologies shares have been trading in the grey market at a premium of Rs 3, which reflects a 0.42% premium over the upper price band of Rs 708. The GMP is significantly lower than what is typically expected in high-profile IPOs, indicating a lukewarm sentiment towards the offering so far. The low GMP also suggests that investors are uncertain about the stock’s performance post-listing.
Hexaware Technologies IPO Allotment and Listing Schedule
The Hexaware Technologies IPO is set to close on February 14, 2025. Post-subscription, the allotment process will begin, with the basis of allotment expected to be finalized by Monday, February 17, 2025. Successful applicants will have their shares credited to their demat accounts by Tuesday, February 18, 2025.
The listing date for Hexaware Technologies IPO is scheduled for Wednesday, February 19, 2025, when the shares will debut on the BSE and NSE. This will mark the company’s return to the stock market after it was delisted in September 2020.
About Hexaware Technologies
Hexaware Technologies is a global digital and technology services company that focuses on integrating Artificial Intelligence (AI) into its offerings. The company provides comprehensive digital transformation services and solutions to businesses across various industries. Hexaware’s services include Design & Build, Secure & Run, Data & AI, Optimize, and Cloud Services.
Hexaware serves clients in the following sectors:
- Financial Services
- Healthcare & Insurance
- Manufacturing & Consumer
- Hi-Tech & Professional Services
- Banking
- Travel & Transportation
The company aims to drive innovation for its customers’ operations by embedding AI into their services and enhancing operational efficiencies.
Conclusion: Is the Hexaware Technologies IPO Worth Investing?
Despite the strong fundamentals of Hexaware Technologies and the positive outlook for the digital transformation industry, the Hexaware Technologies IPO has not gained significant traction in the initial days. The 4% overall subscription as of Day 2 suggests investor hesitancy, possibly due to the high price band and uncertain market conditions. However, the low GMP and relatively flat market response indicate that investors are cautious about the company’s market debut.
With the IPO subscription closing on February 14, 2025, it remains to be seen whether investor interest will pick up in the final days. If you’re considering investing in this IPO, it is crucial to evaluate the subscription trends, GMP, and the company’s fundamentals to make an informed decision.
