The Indian stock market is buzzing with excitement as it braces for a significant event that could break decades-old records. Investors are constantly trying to gauge which companies will rise and which will fall in this volatile market. On the previous trading day, the indices reflected a slight downturn, with the Sensex retracting by 0.25%, closing at 77,860.19 points. However, optimism is on the horizon as the much-anticipated IPO of Hexaware Technologies is set to launch, potentially shattering record highs previously held by Tata Consultancy Services (TCS). With a remarkable IPO size that rivals that of TCS from 2004, this is an event that investors and market analysts alike are eager to watch. Let’s delve into the details of this landmark IPO.
Overview of Hexaware Technologies IPO
Hexaware Technologies, based in Mumbai, is making headlines as it prepares to release its IPO on February 12. This event marks a significant milestone for the IT sector, as it is projected to be one of the largest IPOs in the sector’s history. The anticipated issue size is approximately double that of TCS’s IPO, which was valued at ₹4,713 crore. Hexaware is aiming to raise around ₹8,750 crore through this IPO, signaling a strong potential for investor interest.
Key Details of the IPO
| Aspect | Details |
|---|---|
| Issue Date | February 12 – February 14 |
| Issue Size | ₹8,750 crore |
| Price Band | ₹674 – ₹708 per share |
| Promoter | The Carlyle Group |
| Post-IPO Carlyle Stake | 74.1% (reduced from 95%) |
| Minimum Bid | 21 shares (Approx. ₹14,868) |
Current Grey Market Premium (GMP)
As per the latest reports, the Grey Market Premium (GMP) for Hexaware’s IPO stands at ₹11. This indicates that the IPO is likely to list at around ₹719 per share, providing potential investors with an expected listing gain of approximately 1.5%. Notably, this marks Hexaware’s return to the stock market after a three-year hiatus. The company had previously delisted in September 2020, accepting a share price of ₹475 at that time. Now, with plans to penetrate the market once again with a landmark IPO, stakeholders are keen to see how the listing unfolds.
Conclusion: What This Means for Investors
The upcoming Hexaware Technologies IPO represents a significant opportunity for both retail and institutional investors. Given its substantial size and the expected listing gains, now is the ideal time for investors to consider their options. The Indian IT sector continues to grow, and with Hexaware’s re-entry into the public market, it positions itself as a competitive player against established firms. As we approach the IPO date, financial analysts and investors are advised to keep an eye on market trends and make informed decisions.