Hexaware Technologies Ltd. set a price band of Rs 674-708 per share for its upcoming initial public offering, that is set to open for bidding next week.
The maiden offering will open for subscription on Feb. 12 and close on Feb. 14, according to the price band advertisement on Thursday. Bids can be made for a minimum of 21 shares, and then in multiples thereof.
The company will not issue any fresh shares, and the IPO will consist entirely of an offer for sale worth Rs 8,750 crore equity shares, according to the red hearing prospectus. The market value at upper end of price band is Rs 43,025 crore.
The company filed its draft papers for the issue in September last year, but had initially planned to raise Rs 9,950 crore. The OFS consists of the sale of equity by CA Magnum Holdings, the promoter of the US private giant Carlyle-promoted company.
Kotak Mahindra Capital Co., Citigroup Global Markets India Pvt., JPMorgan India Pvt., HSBC Securities and Capital Markets (India) Pvt. and IIFL Securities Ltd. are the book-running lead managers to the issue and KFin Technologies Ltd. is the registrar to the offer.
The equity shares are proposed to be listed on both the BSE and National Stock Exchange. The company will not receive any proceeds from the offer, as the funds raised will go to the promoter selling the shares.
Hexaware is a digital and technology services company providing solutions with artificial intelligence.
Hexaware, which was acquired by global investment firm Carlyle Group Inc. from Baring Private Equity Asia in 2021, offers a range of services, including IT, business process outsourcing, cloud computing, data analytics and artificial intelligence solutions.
. Read more on IPOs by NDTV Profit.Hexaware Technologies will not issue any fresh shares, and the IPO will consist entirely of an offer for sale worth Rs 8,750 crore equity shares. Read MoreIPOs, Markets, Business, Notifications
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