Hexaware Technologies Files Draft Papers For Rs 9,950-Crore IPO, Biggest In IT Services
The company will not receive any proceeds from the offer as the funds raised will go to the promoter selling the shares.
Hexaware Technologies Ltd. filed preliminary papers with the Securities and Exchange Board of India on Friday to raise Rs 9,950 crore through an initial public offering. This will be the biggest-ever in the IT services and enterprise tech segment.
The proposed public offering consists of an offer for sale of Rs 9,950 crore, according to the draft red herring prospectus. The offer also includes a reservation for a subscription by eligible employees. This will also make it the largest public listing in India this year after Ola Electric.
The OFS consists of the sale of equity by CA Magnum Holdings, the promoter of the US private giant Carlyle promoted company.
Kotak Mahindra Capital Co., Citigroup Global Markets India Pvt., JP Morgan India Pvt., HSBC Securities and Capital Markets (India) Pvt. and IIFL Securities Ltd. are the book-running lead managers to the issue and KFin Technologies Ltd. is the registrar to the offer.
The equity shares are proposed to be listed on both the BSE and National Stock Exchange. The company will not receive any proceeds from the offer, as the funds raised will go to the promoter selling the shares.
Hexaware, which was acquired by global investment firm Carlyle Group Inc. from Baring Private Equity Asia in 2021, offers a range of services, including IT, business process outsourcing, cloud computing, data analytics and artificial intelligence solutions.
