Proposed Initial Public Offering by Hexaware Technologies Limited

16 July 2024

Hexaware Technologies Limited has announced its intention to explore an initial public offering (IPO) of its equity shares, following a resolution by the board on July 11, 2024. This decision is subject to various approvals, including regulatory and corporate considerations, and market conditions.

The IPO will adhere to the Companies Act, 2013, and SEBI ICDR Regulations, 2018. It will involve the issuance of a draft red herring prospectus (DRHP) to be filed with SEBI, followed by a red herring prospectus (RHP) and a final prospectus. Book running lead managers will oversee the process, assisting with pricing, allocation, and other transaction details.

The offering may include an offer for sale (OFS) by existing shareholders, subject to eligibility criteria specified in SEBI regulations. Shareholders intending to participate must confirm their interest by July 29, 2024, ensuring compliance with holding period requirements and other stipulations.

All offered shares must be in dematerialized form and deposited in an escrow account. Pre-IPO shares will be subject to a mandatory lock-in period of six months from the date of allotment, with exceptions outlined in SEBI regulations.

The Company retains discretion to adjust terms and conditions or withdraw the IPO entirely. Shareholders are strongly advised to seek independent legal and tax advice before participating, as participation does not guarantee sale of shares.