Hexaware Technologies debuted positively on the National Stock Exchange (NSE) on Wednesday, listing shares at a 5.3% premium over the issue price. The stock opened at ₹745.5 per share, above the issue price of ₹708. By the end of the trading session, the shares had settled 1.3% higher at ₹755.40 apiece.
Throughout the day, Hexaware Technologies shares surged 4.78% to a high of ₹786.60, with a traded volume of 160.24 lakh shares and a traded value of ₹1,214.25 crore. The company’s total market capitalization stood at ₹47,324.22 crores by 2:10 PM. Hexaware Technologies shares peaked as trading progressed, advancing by 3.31% to ₹770.2 apiece.
The positive sentiment in the market was evident as shares remained in green territory, indicating strong investor interest. Hexaware Technologies is a leading information technology company that provides various digital and technological solutions. Their services include business process services, digital IT operations, cloud, data and AI, application services, and cybersecurity.
Hexaware IPO opens with strong debut
Earlier in the day, Hexaware Technologies saw a market capitalization of ₹46,285.06 crores as shares rose 2.17% to ₹761.65 per unit. By 2:10 PM, the market capitalization increased to ₹46,798.57 crore, reflecting investor confidence in the stock.
The company is led by an experienced board, including Larry Quinlan, Srikrishna Ramakarthikeyan, Neeraj Bharadwaj, Sandra Horbach, Julius Genachowski, Lucia Soares, Kapil Modi, Shawn Devilla, Milind Sarwate, Vivek Sharma, and Sukanya Kripalu. Hexaware Technologies’ IPO, managed by Kotak Mahindra Capital Company, Citigroup Global Markets India, JP Morgan India, HSBC Securities & Capital Markets Pvt Ltd, and IIFL Securities Ltd, saw significant interest. The IPO had a subscription rate of 2.66 times, with retail investors applying for over 47.64 lakh shares.
The initial public offer (IPO) of Hexaware Technologies was entirely an offer-for-sale (OFS) by Carlyle Group’s CA Magnum Holdings, valuing the equity shares at ₹8,750 crore. As this was a complete OFS, Hexaware Technologies received no funds from the IPO. Hexaware Technologies experienced a robust trading day post-IPO, reflecting strong investor confidence.
With a balanced board of directors and a robust service portfolio, the company is well-positioned for future growth in the digital and technology sector.
Image Credits: Photo by Marga Santoso on Unsplash
