Hexaware Technologies Limited plans to open an initial public offering of its equity share of the face value of INR 1 each 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 INR 674 per Equity Share to INR 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 INR 8,750 crores by CA Magnum Holdings (the Promoter Selling Shareholder).
In line with SEBI ICDR Regulations, not more than 50% of Hexaware Technologies IPO shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (QIBs) and up to 60% of the QIB Category may be allocated to Anchor Investors, on a discretionary basis. 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) of which one-third of the Non-Institutional Category shall be available for allocation to Bidders with a Bid size of more than INR 2,00,000 and up to INR 10,00,000 and two-thirds of the Non-Institutional Category shall be available for allocation to Bidders with a Bid size of more than INR 10,00,000 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 (RIIs), 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).
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.