Thu Feb 13 04:20:00 UTC 2025: ## Hexaware Technologies IPO Opens to Tepid Demand

**MUMBAI, INDIA** – Hexaware Technologies Limited’s initial public offering (IPO) opened on February 12, 2025, with a price band of ₹674 to ₹708 per share. The company aims to raise ₹8,750 crore through an offer for sale (OFS), with ₹2,598 crore already secured from anchor investors. The IPO, managed by Kotak Mahindra Capital, Citigroup, JP Morgan, HSBC, and IIFL Securities, will close on February 14th and is slated for listing on the BSE and NSE on February 19th.

Early subscription figures show slow initial demand. By 10:09 AM on the second day, the IPO was subscribed only 0.04 times across all categories (retail, non-institutional investors, and qualified institutional buyers). While the grey market initially showed a ₹2 premium, it has since leveled off to par.

The minimum investment for retail investors is ₹14,868 (21 shares). Analysts offer differing perspectives. Abhishek Pandya of StoxBox and Anand Rathi both recommend subscribing, citing a relatively cheap price-to-earnings ratio (43.1x at the upper price band) compared to peers and strong business fundamentals, including a diversified client base and strategic partnerships. Marwadi Shares and Finance and SBI Capital Securities also issued positive recommendations. However, investors are urged to conduct thorough due diligence and consult financial advisors before investing.

Read More