Hexaware Technologies IPO Day 3 Live Updates: On the second day of bidding Thursday, the initial public offering of Hexaware Technologies Ltd garnered a 15% subscription. The portion allocated for Qualified Institutional Buyers (QIBs) attracted a 39% subscription, while the segment for Retail Individual Investors (RIIs) was subscribed to 6%. The Non-Institutional Investors category received a subscription of 3%. Hexaware Technologies IPO, worth ₹8,750 crore, will close on Friday, February 14.
Hexaware Technologies IPO subscription status was 3% on the first bidding day.
The company has established a price band of ₹674-708 per share for its IPO. At the highest point of this price range, the company’s valuation exceeds ₹43,000 crore. The initial offering of shares for the Mumbai-based firm consists entirely of an Offer for Sale (OFS) of equity shares totaling ₹8,750 crore by the promoter, CA Magnum Holdings, which is part of the Carlyle Group. Currently, CA Magnum Holdings possesses a 95.03% ownership stake in the IT firm.
As this is an OFS, all funds raised from the IPO will be directed to the selling shareholder instead of the company.
Hexaware Technologies is a worldwide provider of digital and technology services, primarily focused on artificial intelligence (AI), catering to a varied clientele that includes 31 Fortune 500 companies. The company serves clients in the Americas, Europe, and the Asia-Pacific region, which encompasses India and the Middle East.
Hexaware Technologies IPO Day 3 Live Updates: Key dates to know
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Hexaware Technologies IPO Day 3 Live Updates: Here’s what GMP hints ahead of third bidding day
Hexaware Technologies IPO GMP or Hexaware IPO grey market premium is +2. This indicates Hexaware Technologies share price were trading at a premium of ₹2 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Hexaware Technologies share price was indicated at ₹710 apiece, which is 0.28% higher than the IPO price of ₹708.
Today’s IPO GMP is pointing lower and is predicted to decline further based on the grey market activity over the last nine sessions. According to experts on investorgain.com, the lowest GMP is ₹2, and the maximum is ₹19.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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