Hexaware Technologies IPO fully subscribed on day 3: Check GMP, listing details

New Delhi: The initial public offering (IPO) of Hexaware Technologies Ltd was fully subscribed by the end of the three-day bidding period on Friday.

Investors had the option to bid for a minimum of 21 shares and in subsequent multiples. The price band of the IPO has been fixed at Rs 674 to Rs 708 apiece.

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

This will be the largest IPO in IT services, larger than Tata Consultancy Services’ ₹4,713 crore IPO in 2004.

Hexaware Technologies IPO subscription on day 3

The IPO of Hexaware Technologies Ltd sailed through on the third and final day of the book-building process.

Hexaware Technologies IPO was subscribed 2.66 times on the third day of the bidding process amid strong support from QIBs. The QIB portion was booked 9.09 times, the NII portion 0.20 times and the retail portion 0.11 times. The employee portion was booked 0.32 times.

Hexaware Technologies IPO GMP

According to investorgain.com, as of February 14, 2025, the Grey Market Premium (GMP) for Hexaware Technologies IPO was subdued at Rs 2.5 or 0.35% over the upper end of the IPO price band of Rs 708.

If the current grey market trends are sustained, the shares may list flat at around Rs 710.5 per share.

The grey market is an unofficial place to trade shares ahead of listing. Market participants keep a watch on GMP to track listing gains.

About Hexaware Technologies

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 allotted on Feburary 17 and it will be listed on BSE and NSE on February 19.