Hexaware Technologies Ltd, a prominent IT services provider, made a strong debut on the National Stock Exchange (NSE). Shares opened at ₹745.5, a 5.30% premium over the issue price of ₹708. The stock gained further momentum, closing at ₹755.40, up 1.33%. The company offers a range of digital and technology services, including business process services, cloud computing, data and AI, application services, cybersecurity, and digital IT operations.
During the trading session, Hexaware’s shares reached a high of ₹786.60 and closed at ₹781.15, a 4.78% increase from the issue price. The trading volume was substantial, with 160.24 lakh shares traded, resulting in a value of ₹1,214.25 crore. The company’s market capitalization stood at ₹47,324.22 crores at the end of the session.
Hexaware shares open at premium
Hexaware’s IPO was subscribed 2.66 times, with bids for 24,28,44,966 equity shares against the 9,14,23,354 shares on offer. The price band for the IPO was set between ₹674 to ₹708 per share.
The IPO was a complete offer-for-sale of equity shares valued at ₹8,750 crore by Carlyle Group’s CA Magnum Holdings, with the proceeds going entirely to the selling shareholder. The company is led by a diverse board of directors, including Larry Quinlan as Non-Executive Chairman, Srikrishna Ramakarthikeyan as CEO & Executive Director, and several other prominent members. Hexaware’s successful listing comes amidst a positive market trend, with related IPOs such as HP Telecom India and Swasth Foodtech set to open on February 20.
The NIFTY Midcap 100 and Smallcap 100 indices also showed gains of nearly 2%, reflecting investor confidence and overall market strength. The substantial listing and subsequent rise in Hexaware’s share price highlight the robust market appetite for tech shares and the strong demand for its digital and IT services offerings.
Image Credits: Photo by Alexandre Debiève on Unsplash
