Hexaware Technologies Gears Up for Billion $ IPO: A Game-Changer for India's IT Sector?

Hexaware, an IT and business process outsourcing (BPO) services provider, delisted from the NSE and BSE in November 2020 at a price of ₹475 per share. In 2021, US private equity giant Carlyle acquired a 62% stake in Hexaware for $3 billion. Hexaware is now planning to re-enter the public market with an IPO that could raise up to $1 billion (₹8,350 crore) at a valuation of $4-5 billion (₹41,000-50,000 crore). Carlyle has finalized five investment banks as underwriters for the IPO: Kotak Mahindra Capital, Citi, JP Morgan, HSBC, and IIFL Securities. If the IPO goes through, it will be the biggest IPO in the IT services sector after TCS. Currently, shares are available in the pre-IPO market at ₹1,100 per share at a valuation of $4 billion. Investors who have accumulated these shares at ₹450-900 are seeing good returns. We recommend that these investors hold on to their shares. For those who haven't invested yet, we suggest doing their due diligence before making an investment decision.

About Hexaware Technologies:

Hexaware Technologies Limited provides information technology consulting, software development, and business process services. It offers application transformation management solutions, including cloudify application, API and integration, delivery, and application managed services; business intelligence and analytics services, such as AMAZE for data and artificial intelligence (AI), data modernization, decision science lab, data visualization, and Internet of things; and business process services covering HIPAS-intelligent process automation, customer experience, finance and accounting transformation, translation, marketing operation, revenue cycle management, banking and financial, insurance, and healthcare.

​Hexaware Unlisted Shares Research Report

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