Hexaware Tech IPO gets 15% subscription on Day 2 of offer

The archetypal nationalist connection of Hexaware Technologies Ltd received 15 per cent subscription connected the 2nd time of bidding connected Thursday.

The archetypal stock merchantability got bids for 1,38,39,483 shares against 9,14,23,354 shares connected offer, arsenic per NSE data.

The quota for Qualified Institutional Buyers (QIBs) fetched 39 per cent subscription portion the class for Retail Individual Investors (RIIs) got subscribed 6 per cent.

Non-Institutional Investors portion got 3 per cent subscription.

Hexaware Technologies Ltd has mopped up Rs 2,598 crore from anchor investors.

The Rs 8,750-crore Initial Public Offering (IPO) of Hexaware Technologies volition reason connected Friday.

The institution has acceptable a terms set astatine Rs 674-708 per stock for the IPO.

At the precocious extremity of the terms band, the institution has been valued astatine implicit Rs 43,000 crore.

The archetypal stock merchantability of the Mumbai-headquartered institution is simply a implicit Offer for Sale (OFS) of equity shares worthy Rs 8,750 crore by promoter CA Magnum Holdings, portion of Carlyle Group.

At present, CA Magnum Holdings holds 95.03 per cent involvement successful the IT company.

Since the full contented is an OFS, each the proceeds from the IPO volition spell straight to the selling shareholder, alternatively than to the company.

Hexaware's nationalist contented is the largest successful country's IT services assemblage since Tata Consultancy Services' implicit Rs 4,700 crore IPO implicit 2 decades ago.

Hexaware Technologies is simply a planetary integer and exertion services company.

Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, JP Morgan India Private Ltd, HSBC Securities and Capital Markets (India) Private Ltd and IIFL Capital Services Ltd are publication moving pb managers to the issue.

The equity shares volition beryllium listed connected BSE and NSE.