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Unlisted shares of Hexware Technologies Limited are currently trading in the gray market at Rs 709, which is only 0.14 percent premium at an upper IPO price of Rs 708.
Hexware Technologies IPO allocation status.
Hexaware Technologies IPO allocation tomorrow: The initial public offering of Hexware Technologies Limited, which was closed on Wednesday, received a total of 2.79 times. Hexware technologies IPO The allocation is to be finalized on Monday, 17 February. Beyond IPO allocation, its gray market premium (GMP) remains at only 0.14 percent, indicating a flat or negative list on 19 February, Wednesday.
On the last day of bidding on Friday, IPOs of Rs 8,750 crore received 2.79 times membership bids for 24,28,44,966 shares, compared to 8,70,25,526 shares on the proposal. The overbscription was mainly on the back of overbidding by the QIB category.
However, the participation of retail and NII is 0.11 times and 0.21 times lower respectively.
The QIB category, including mutual funds and pension funds, has so far received a membership of 9.55 times.
The price band of the IPO, which was opened for public membership on 12 February and closed on 14 February, was fixed from Rs 674 to Rs 708.
Hexware’s IPO will be the largest in the country’s IT service sector as Tata Consultancy Services had an initial public offer of over Rs 4,700 crore two decades ago. The previous promoter of Hexware, Burning Private Equity Asia, removed the company in 2020. Nearly a year after development, the Carlile Group acquired the stake of Private Equity Asia in the company in October 2021.
Hexware Technologies IPO GMP
According to Market Observer, unrestaded shares of Hexware Technologies Limited are currently trading Rs 709 in the gray market, which is only 0.14 percent premium at an upper IPO price of Rs 708. This indicates a flat or negative return for investors in February. 19, Tentative Listing Date.
GMP is based on market sentiments and changes. The ‘gray market premium’ indicates the readiness to investors to pay more than the problem price.
Hexware Technologies IPO allocation: a step-by-step guide
Hexware technologies IPO allocation will be on Monday, 17 February. By following these steps, the status of IPO allocation can be checked online:
1) Go to the official BSE website via URL – https://www.bseindia.com/investors/appli_check.aspx,
2) Under ‘points’, select ‘equity’.
3) Under ‘points name’, select ‘Hexware Technologies Limited’ in Dropbox.
4) Enter your application number, or permanent account number (PAN).
5) Then, click on ‘I am not a robot’ to verify yourself and hit the ‘search’ option.
Your share application status will appear on your screen.
You can also visit the portal of Registrar KFIN Technologies LTD – https://rti.kfintech.com/ipostatus/ And check for hexware technologies IPO allotment status.
Hexware Technologies IPO: More details
At the upper-end of the price band, the company costs more than Rs 43,000 crore.
The initial share-selling company of the Mumbai headquarters is a full proposal of Rs 8,750 crore by Promoter CA Magnum Holdings.
Currently, CA Magnum Holdings has a 95.03 percent stake in the IT company.
Since the entire issue is OFS, all income from the IPO will go directly to the shareholder selling instead of the company.
Next to the IPO, Hexware Technologies Limited. 2,598 crores from anchor investors.
Hexware Technologies at its core is a global digital and technology service company with Artificial Intelligence (AI) and a diverse category of customers including 31 of Fortune 500 organizations. It serves customers in America, Europe and Asia-Pacific (including India and Middle East).
For the nine months ending September 2024, the net profit of the company was Rs 853.3 crore and revenue was Rs 8,820 crore.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, JP Morgan India Private Limited, HSBC Securities and Capital Markets (India) Private Limited and IIFL Securities Limited are responsible for the book-ringing lead manager responsible for the management of the company.
