Hexaware Technologies made its much-awaited entry into the stock market today after its IPO subscription window closed on February 14. The shares listed on BSE at Rs 731 with an 3.25% gain, while on NSE, the listing price stood at Rs 745.50 with a 5.3% rise. The IPO’s upper price band was Rs 708 per share.
Hexaware Technologies IPO: Muted grey market performance
Ahead of the official listing, Hexaware Technologies shares were trading at Rs 0 in the grey market, indicating a listing around its upper price band of Rs 708. However, the GMP is only a rough estimate and actual market sentiment may differ post-listing.
Hexaware Technologies IPO: Subscription and Investor Response
The IPO saw a 2.79x overall subscription at the close of bidding. Institutional investors (QIBs) led the demand with a 9.55 times subscription, while high-net-worth individuals (NIIs) subscribed 0.21 times. Retail investors showed limited interest, subscribing only 0.11 times.
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The Hexaware Technologies IPO was a Rs 8,750 crore book-built issue, comprising an offer for sale of 12.36 crore shares. Kotak Mahindra, Citigroup Global Markets, J.P. Morgan India, HSBC Securities, and IIFL Securities were the lead managers, while KFin Technologies acted as the registrar.
Ahead of the IPO launch, the company raised Rs 2,598 crore from anchor investors on February 11.
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