Hexaware Technologies IPO: DRHP Filed with SEBI

Hexaware Technologies Private Limited submits DRHP with SEBI and will be coming up with its public issue in the upcoming time; the public issue will be offering a 100% book-built offer. This upcoming IPO is offering entirely an offer for sale by the promoters worth up to Rs 9,950 crores of equity shares. The exact number of issued shares has not been disclosed yet. The face value is reported as Re 1 for each share. This new IPO issue is being made through the book-building process with a reservation of less than 75% of the new offer reserved for Qualified Institutional Investors, not more than 15% reserved for NII and not more than 10% reserved for Retail Individuals. The opening and closing dates of this IPO have not yet been disclosed, and the company will announce the price band soon.

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About Hexaware Technologies Private Limited

Hexaware Technologies Limited is a global digital and technology services company with artificial intelligence (AI) at its core. Specializing in innovative solutions, Hexaware supports customers on their digital transformation journeys across six key industries: Financial Services, Healthcare and Insurance, Manufacturing and Consumer, Hi-Tech and Professional Services, Banking, and Travel and Transportation. The company's service offerings include Design & Build, Secure & Run, Data & AI, Optimize, and Cloud Services, all powered by AI-driven platforms like RapidX™, Tensai®, and Amaze®. With a strong global footprint, Hexaware serves 31 Fortune 500 companies, spanning diverse sectors such as asset management, life sciences, manufacturing, and technology. As of June 2024, Hexaware operates 38 delivery centres supported by 16 offices across the Americas, Europe, and APAC, with a team of 31,870 employees in 28 countries. Leveraging deep domain expertise across industries, Hexaware delivers comprehensive solutions through its operating segments, which include Financial Services, Healthcare, Manufacturing, Hi-Tech, and Travel.

Hexaware Technologies Private Limited IPO Objectives

The company will not receive any funds from the public issue as public issue is an entirely Offer for Sale by the Shareholder. Selling Shareholder, i.e. CA Magnum Holdings, will be entitled to their proportion of the proceeds of the Offer for Sale after deducting their portion of the Offer related expenses and the applicable taxes thereon.

Financials of the Company

The company delivers positive financial growth up to the period ending March 31, 2024. Assets increased by 19.9% from Rs 663.2 crore in FY 2023 to Rs 795.7 crore in FY 2024. Revenue of the company improved by 11.2%, from Rs 511.3 crore in FY 2023 to Rs 568.4 crore in FY 2024, and profit after tax grew by 8.7% during the period from Rs 50.9 crore in FY 2023 to Rs 55.4 crore in FY 2024. All these numbers reflect positive growth in profitability as well as the company's overall health. Moving forward, this growth pace needs to continue to position the company even better.

Lead manager(s), Registrar of IPO & Promoter(s) of the Company

The IPO is managed by 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 Securities Limited. The company has appointed KFin Technologies Limited as the registrar for this public issue, CA Magnum Holdings is the promoter of the company.

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