Hexaware Tech IPO Subscribed 15% on Day 2

New Delhi, Feb 13 (PTI) The initial public offer of Hexaware Technologies Ltd received 15 per cent subscription on the second day of bidding on Thursday.

The initial share sale got bids for 1,38,39,483 shares against 9,14,23,354 shares on offer, as per NSE data.

The quota for Qualified Institutional Buyers (QIBs) fetched 39 per cent subscription while the category for Retail Individual Investors (RIIs) got subscribed 6 per cent. Non-Institutional Investors part got 3 per cent subscription.

Hexaware Technologies Ltd has mopped up Rs 2,598 crore from anchor investors.

The Rs 8,750-crore Initial Public Offering (IPO) of Hexaware Technologies will conclude on Friday.

The company has set a price band at Rs 674-708 per share for the IPO.

At the upper end of the price band, the company has been valued at over Rs 43,000 crore.

The initial share sale of the Mumbai-headquartered company is a complete Offer for Sale (OFS) of equity shares worth Rs 8,750 crore by promoter CA Magnum Holdings, part of Carlyle Group.

At present, CA Magnum Holdings holds 95.03 per cent stake in the IT company.

Since the entire issue is an OFS, all the proceeds from the IPO will go directly to the selling shareholder, rather than to the company.

Hexaware's public issue is the largest in country's IT services sector since Tata Consultancy Services' over Rs 4,700 crore IPO over two decades ago.

Hexaware Technologies is a global digital and technology services company.

Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, JP Morgan India Private Ltd, HSBC Securities and Capital Markets (India) Private Ltd and IIFL Capital Services Ltd are book running lead managers to the issue.

The equity shares will be listed on BSE and NSE.