Hexaware Technologies IPO subscribed 15% so far on day 2; check latest GMP

New Delhi: The initial public offering (IPO) of Hexaware Technologies Ltd. which opened for public subscription on Wednesday, has so far received a subdued investor interest on day 2, the Rs 8,750-crore IPO received a 15% cumulative subscription on BSE and NSE as against 9,14,23,354 shares on offer.

Investors have the option to bid for a minimum of 21 shares and in subsequent multiples. The company successfully secured Rs. 2,598 crores from anchor investors at ₹708 per equity share, according to an exchange announcement.

Hexaware Technologies IPO subscription on day 2

The 8,750 crore IPO of Hexaware Technologies Ltd. received 15 per cent subscription on Thursday. It will conclude tomorrow, February 14, 2025.

The quota for qualified institutional buyers (QIBs) garnered 39 per cent subscriptions, NIIs 3 per cent and retail booked 6 per cent.

The company secured ₹2,598 crore from anchor investors. The employee portion was booked 17 per cent. 

The three-day IPO will be closed on Friday. The price band of the IPO has been fixed at Rs 674 to Rs 708 apiece.

Hexaware Technologies IPO GMP

According to investorgain.com, as of February 13, 2025, the Grey Market Premium (GMP) for Hexaware Technologies IPO was Rs 3 or 0.42% 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 711 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.

Hexaware Technologies IPO: Should you apply?

Though GMP signals subdued returns for investors, most brokerage firms grant a ‘subscription’ to the IPO for the long term.

Anand Rathi said Hexaware Technologies' business has evolved over the last decade, with a growing set of offerings, a larger and diversified customer base, a wider global delivery footprint, and a higher focus on innovation and technology.

About Hexaware Technologies

Hexaware's public issue is the largest in the 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.