Hexaware Technologies IPO to Raise ₹8,750 Crore; Opens on February 12
AI-Driven Tech Firm Expanding in Tier-2 Cities, Eyes Strong Market Presence
BILKULONLINE
Ahmedabad, Feb 7: Hexaware Technologies Limited, a leading global digital and technology services provider, has announced the launch of its ₹8,750 crore Initial Public Offering (IPO). The 100% book-built issue is entirely an Offer-for-Sale (OFS) of 12.36 crore shares, with a price band set between ₹674 and ₹708 per share. The IPO will be open for subscription from February 12 to February 14, 2025, with listing scheduled on BSE and NSE on February 19, 2025.
Speaking at a media interaction in Ahmedabad on Friday, Srikrishna Ramakarthikeyan, CEO of Hexaware Technologies, highlighted the company’s AI-driven approach and global expansion strategy. “We are embedding AI into every solution we offer, ensuring that businesses are future-ready. This IPO is a significant milestone in our journey toward innovation and global expansion,” he stated.
IPO Details and Investor Requirements
Price Band: ₹674 – ₹708 per share
Minimum Lot Size: 21 shares
Retail Investor Minimum Investment: ₹14,868
Subscription Dates: February 12 – February 14, 2025
Allotment Date: February 17, 2025
Listing Date: February 19, 2025 (BSE & NSE)
HNI Investment:
Small HNIs: ₹2,08,152 (294 shares)
Big HNIs: ₹10,11,024 (1,428 shares)
AI-Driven Expansion and Business Growth
Hexaware Technologies, founded in 1992, is a pioneer in digital transformation and AI-powered solutions. The company operates 39 delivery centers and 16 offices across the Americas, Europe, and APAC, with key offshore hubs in Chennai, Pune, Bengaluru, Noida, and Sri Lanka. The firm has also announced expansion into Tier-2 cities, including Ahmedabad, to enhance its service delivery and talent acquisition.
“We are seeing a significant shift in digital transformation, and our AI-driven solutions enable clients to adapt faster. The IPO will provide liquidity to our shareholders while allowing us to strengthen our presence globally,” said Vikash Kumar Jain, CFO of Hexaware Technologies.
Financial Performance and Investor Concerns
Hexaware’s revenue has shown steady growth, rising from ₹91,996 million in December 2022 to ₹103,803 million in December 2023. However, the company has witnessed a decline in profitability:
Profit After Tax (PAT): ₹8,842 million (Dec 2022) → ₹5,536 million (June 2024)
Earnings Per Share (EPS): ₹14.53 (Dec 2022) → ₹9.13 (June 2024)
Return on Net Worth (RoNW): 23.4% → 12.2%
Despite these concerns, analysts believe the company’s AI-driven business model and global partnerships position it for long-term growth. Prince Poddar, Sr. VP of IIFL Capital Services, emphasized investor interest, stating, “AI-led technology companies are in high demand, and Hexaware’s strong digital footprint makes it an attractive opportunity.”
Key Growth Drivers for Investors
✔ AI-powered solutions through platforms like RapidX™, Tensai®, and Amaze®
✔ Strong global presence, serving 31 Fortune 500 companies
✔ Expanding into Tier-2 cities to increase operational capacity
✔ Focus on automation, cloud, and data services
With a clear AI-first strategy and global expansion plans, Hexaware Technologies’ IPO is expected to attract strong investor interest in the technology and digital services sector.
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