Price Band fixed at 674 per equity share to 708 per equity share of the face value of 1 each (“Equity Shares”) of Hexaware Technologies Limited (the “Company”)
Anchor Investor Bidding Date Tuesday, February 11, 2025
Bid/Offer Opening Date – Wednesday, February 12, 2025, and Bid/ Offer Closing Date -Friday, February 14, 2025
Bids can be made for a minimum of 21 Equity Shares and in multiples of 21 Equity Shares thereafter
Red Herring Prospectus dated February 5, 2025 (“RHP”) link: https://hexaware.com/wp-content/uploads/2025/02/Red-Herring-Prospectus.pdf
NATIONAL, MUMBAI, 6 FEBRUARY, 2025 (TGN): Hexaware Technologies Limited (the “Company”) proposes to open an initial public offering (“Offer”) of its equity share of the face value of 1 each (“Equity Shares”) on Wednesday, February 12, 2025. The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, being Tuesday, February 11, 2025. The Bid/ Offer Closing Date is Friday, February 14, 2025.
The Price Band of the Offer has been fixed from 674 per Equity Share to 708 per Equity Share. Bids can be made for a minimum of 21 Equity Shares and multiples of 21 Equity Shares thereafter.
The initial public offering comprises an offer for sale of Equity Shares aggregating up to 8,750 crores by CA Magnum Holdings (the Promoter Selling Shareholder).
Mr. Vikash Kumar Jain, Chief Financial Officer (CFO) Hexaware Technologies Limited and Srikrishna Ramalkarthikeyan, Chief Executive Officer (CEO) Hexaware Technologies Limited addressing about the company and the financial statements said to TGN that Hexaware Technologies is an IT consulting and services company. The Balance sheet as of December 31, 2023, Hexaware Technologies’ total liabilities were Rs 25,676 million, and its total equity and liabilities were Rs 72,028 million.The Profit and loss as of December 19, 2019, Hexaware Technologies’ profit after tax and before extraordinary items was Rs 507.53 million.
Talking on Key financial ratios and Assets they added as of December 19, 2019, Hexaware Technologies’ basic EPS was Rs 17.03, its diluted EPS was Rs 16.81, and its cash EPS was Rs 19.05. As of 2023, Hexaware Technologies’ assets were Rs 4,709.00 crore.
The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, (the “SCRR”) read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein in terms of Regulation 32(1) of the SEBI ICDR Regulations, not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Category”), provided that our Company in consultation with the BRLMS, may allocate up to 60% of the QIB Category to Anchor Investors, on a discretionary basis in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which Equity Shares of face value of 1 each are allocated to Anchor Investors (the “Anchor Investor Allocation Price”). In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares of face value of 1 each shall be added to the QIB Category (other than Anchor Investor Portion) (“Net QIB Category”).
Further, 5% of the Net QIB Category shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Category shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price.
However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Category, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Category for proportionate allocation to QIBs.
Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Investors (“NIIs”) (the “Non-Institutional Category”) of which one-third of the Non-Institutional Category shall be available for allocation to Bidders with a Bid size of more than 200,000 and up to 1,000,000 and two-thirds of the Non-Institutional Category shall be available for allocation to Bidders with a Bid size of more than 1,000,000 provided that under-subscription in either of these two sub-categories of the Non-Institutional Category may be allocated to Bidders in the other sub-category of the Non-Institutional Category in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.
Further, not less than 35% of the Net Offer shall be available for allocation to Retail Individual Investors (“RIls”) (the “Retail Category”), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price.
Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price.
All Bidders (other than Anchor Investors) shall mandatorily participate in this Offer through the Application Supported by Block Amount (“ASBA”) process, and shall provide details of their respective bank account, including UPI ID for UPI Investors in which the Bid Amount will be blocked by the SCSBS or the Sponsor Banks, as the case may be. Anchor Investors are not permitted to participate in the Offer through the ASBA process.
The Equity Shares of the Company are proposed to be listed on BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”) (the “Stock Exchanges”).
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, HSBC Securities and Capital Markets (India) Private Limited and IIFL Capital Services Limited (formerly known as IIFL Securities Limited) are the Book Running Lead Managers (“BRLMs”) to the Offer.
