Hexaware Unlisted Shares Essentials

About Hexaware

Overview: 

• Hexaware Technologies Limited, leading global provider of IT and consulting services, incorporated in 20th November of the year 1992 as a public limited Company. 
• It is one of the fastest growing next- generation providers of IT and consulting services. It serves customers in over two dozen languages, in every major time and regulatory zones.
• The company’s revenue from operations has been increased from INR 5,583 Cr. in 2019 to INR 6,262 Cr. in the year 2020, showcased a growth rate of 12.2%. 

Key client base:

• Key client base of the company includes banking and finance sector, health and insurance sector, travel and transportation sector, hi-tech and professional services and manufacturing sector.
• The countries that the company is serving in are India, Canada, Belgium, Argentina, Mexico, US, Poland, Russia, UK, Norway, Denmark, France, Estonia, Finland, Ireland, Germany, Latvia, Netherlands, South Africa, Spain, Sweden, Switzerland, Australia, China, Dubai, Hongkong, Japan, Philippines, Saudi Arabia, Singa-pore. 

Key facts:

• It had a total of 37 offices in 2020 scattered all over the world with 19,833 employees.
• It has recorded a total revenue of INR 6,297 Cr. and INR 1,081 Cr. of EBITDA in FY 20. 

Delisting :

• The company received a proposal from the Promoter dated June 4, 2020, wherein the Promoter expressed its intention to make a voluntary delisting offer, to acquire all the Equity Shares that are held by the Public Shareholders; and consequently voluntarily delist the equity Shares from the stock exchanges, BSE Ltd and National Stock Exchange of India Limited. 
• The main objective of the Delisting proposal was for the Promot-er to obtain full ownership of the Company which will in turn provide increased operational flexibility to support the compa-ny’s business. The delisting will also help in cost savings and al-low the management to dedicate more time to focus on compa-ny’s business. 
• The letter of offer was sent to shareholders to tender the shares under reverse book building process. The promoters along with promoter group entity successfully acquired more than 90% shareholding of the company (including their existing holding in the company) at the discovered price of 475/-. After seeking final delisting approval from BSE and NSE, shares of the company were delisted w.e.f. November 9, 2020. The promoters sent exit offer document to residual public shareholders to tender their shares to Promoters at exit price of 475 till November 8, 2021.