Hexaware Technologies IPO: The Rs 8,750 crore IPO received a tepid response from investors even on Day 2 of the offering. On Thursday, February 13, the IPO had only subscribed by 10% of its issue size, at the time of writing. The allotment status and listing of Hexaware will take place next week. The last date for subscription is on February 14, should you subscribe?
Hexaware Technologies IPO Subscription Status:
As per NSE data, cumulatively, the IPO received bids of 95,74,887 equity shares, against the offered size of 9,14,23,354 equity shares -- registering only 10% subscription.
The qualified institutional buyers (QIB) portion subscribed by 25%, while non-institutional investors (NII) and retail individual investors (RII) portion subscribed by a meagre 2% and 6% against the reserved size.
The IPO opened on February 12 and will be available for bidding till February 14. The 100% book building has a price band of Rs 674 to Rs 708 per share. A discount of Rs.67 per equity share is being offered to Eligible Employees Bidding in the Employee Reservation Portion. The bid lot size is 21 Equity Shares and in multiples thereof. Notably, the entire public issue is an offer for sale, and hence, the company will not receive any proceeds from the issue.
Hexaware Technologies GMP Today:
As per Investor Grain data, Hexaware Technologies IPO's last GMP is Rs 3, last updated Feb 13th 2025 01:31 PM. With a price band of 708.00, Hexaware Technologies IPO's estimated listing price is Rs 711 (cap price + today's GMP). The expected percentage gain/loss per share is 0.42%.
Hexaware Technologies IPO Allotment:
After the IPO closes on February 14, the allotment basis of the same will be carried on February 17. This is because the market will be closed on February 15 and February 16 due to the weekend holiday.
Meanwhile, the initial refund and credit of shares to eligible shareholders demat accounts will take place on February 18.
Hexaware Technologies IPO Listing:
The IPO is expected to list on February 19, on both exchanges BSE and NSE.
Should You Subscribe to Hexaware Technologies IPO?
As per Choice Broking, HTL is one of the leading players in AI-enabled digital solutions provider from India. It delivers services through its AI-enabled digital platforms such as RapidX for digital transformation, Tensai for AI-powered automation and Amaze for cloud adoption. HTL's business has evolved over the last decade, with a growing set of offerings, larger and diversified customer base, wider global delivery footprint and increased focus on innovation and technology.
Further, the brokerage note said, "At the upper end of its price range, HTL is demanding a P/E multiple of 41.1x, based on its CY23 EPS of Rs. 17.2, and an EV/Sales multiple of 3.8x, this valuation seems to be in line with its peers. The company has marked steady growth in its top and bottom lines for the periods. Over the past few years, it has developed an expanding range of offerings, securing a leading position in global innovative solutions, therefore, well-positioned for growth in the upcoming period. However, based on its recent financial performance, the issue seems to be fully valued. Thus, we recommend a "Subscribe for Long Term" rating for this issue."
Hexaware Technologies Ltd. (HTL), a company engaged globally in the business of digital and technology services with artificial intelligence, uses technology to offer innovative solutions, integrating AI to help customers adapt, innovate, and improve in the AI-driven world. The company serves clients across various industries such as Financial Services, Healthcare and Insurance, Manufacturing and Consumer, HiTech and Professional Services, Banking, and Travel and Transportation.
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