Hexaware Technologies files draft papers for 9,950 crore rupees IPO, India’s biggest in IT services and enterprise tech space | Hexaware Technologies plans to raise ₹ 9,950 crore from IPO: Draft-papers submitted to SEBI, will be the biggest IPO ever in the IT segment

IT company Hexaware Technologies is coming up with an initial public offering (IPO) of Rs 9,950 crore. For the IPO, the company has submitted the draft red herring prospectus (DRHP) i.e. papers to the capital market regulator Securities Exchange Board of India i.e. SEBI.

This will be the biggest IPO ever in India’s IT services and enterprise tech segment. So far, the biggest IPO in the Indian IT sector was that of Tata Consultancy Services (TCS) in 2002, worth Rs 4,713 crore. Hexaware is owned by American private equity firm Carlyle.

There will only be an Offer for Sale (OFS) in the IPO According to the DRHP, the IPO will only have an Offer for Sale (OFS), in which Carlyle will sell shares. According to a report in May this year, Hexaware has selected 5 investment banks – Kotak Mahindra Capital, Citi, JP Morgan, HSBC Securities and IIFL Capital – as advisors for its IPO.

The company is targeting a valuation of $5-6 billion The report said the company could target a valuation between $5-6 billion. Carlyle bought Hexaware Technologies from Baring Private Equity Asia (now EQT) in 2021 for about $3 billion.

The company is returning to the domestic stock markets after 22 years The company is returning to the domestic stock markets after 22 years. According to NSE data, the company was first listed on 14 June 2002. The first promoter Baring Private Equity Asia delisted it in 2020.

Global technology and business process services company Hexaware Technologies is a global technology and business process services company. It has 61 offices in more than 19 countries worldwide. The company has a workforce of 31,000 employees and has more than 370 clients.

Carlyle holds 95.03% stake in Hexaware According to the company’s website, Hexaware has annual revenue of $1.3 billion. Carlyle holds a 95.03% stake in Hexaware. The company’s core is Artificial Intelligence (AI).

Manages the business through 6 operating segments Hexaware manages its business through 6 operating segments based on the industries it serves: Financial Services, Healthcare and Insurance, Manufacturing and Consumer, High-Tech and Professional Services, Banking, Travel and Transportation.

The company’s offerings also include 5 broad services The company’s offerings also include 5 broad services – Design & Build, Secure & Run, Data & AI, Optimize and Cloud Services. All these form the base of the company’s offerings.