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Hexaware Technologies IPO - Listing Date, GMP & Subscription

Hexaware Technologies Ltd IPO listing date: Feb 19, 2025 on NSE, BSE. Listed at ₹658 (-7.1%) vs issue price of ₹708. Subscribed 2.66x overall (QIB: 6.90x). Price band: ₹674-₹708, lot size 21 shares.

sHQ

stoicHQ Research Team · Ex-quants, IIT Delhi · Updated Feb 18, 2025

Key Dates

IPO Open DateFeb 12, 2025

IPO Close DateFeb 14, 2025

Allotment DateFeb 17, 2025

Refund DateFeb 18, 2025

Demat Credit DateFeb 18, 2025

Listing DateFeb 19, 2025

Issue Details

Price Band₹674-₹708

Issue Price₹708

Face Value₹1

Lot Size21 shares

Min Investment₹14,868

Issue Size₹8,750 crore

Listing ExchangeNSE, BSE

RegistrarKFin Technologies

IPO TypeMainboard

stoicHQ Analysis

✓India's largest IT IPO in 2025

✓Global IT services diversification

⚠7% listing discount

⚠100% OFS - PE exit (Carlyle)

⚠0.52x retail subscription

⚠Weak QIB vs IT IPO precedents

About Hexaware Technologies Ltd

Hexaware Technologies is a global IT and BPO services company serving financial services, healthcare, and retail clients across 30+ countries. Backed by Carlyle Group.

Subscription Breakdown

Overall Subscription2.66x

QIB (Institutional)6.90x

NII (HNI)1.39x

Retail0.52x

Listing Price

₹658

Listing Gain

-7.1%

Issue Price

₹708

stoicHQ Analysis

Disappointing 7.1% listing discount on India's largest IT IPO of 2025. 100% OFS meant Carlyle Group was fully exiting. Retail subscription was barely 0.52x - clear price resistance. Weak market conditions in February 2025 and IT sector valuation concerns compounded the pressure.

Technology / IT Services2025All 2025 IPOs

IPO Listing Timeline

Previous IPO← Dr Agarwals Eye Hospital IPO (listed Feb 5, 2025)Next IPOAegis Vopak Terminals IPO (listed Jun 3, 2025) →

More IPOs from 2025

Quadrant Future Tek IPO+135.2%Laxmi Dental IPO+114.0%Dr Agarwals Eye Hospital IPO-23.4%

Hexaware Technologies IPO GMP - Historical Grey Market Premium

GMP is an unofficial market price. For educational purposes only.

DateGMP (₹)KostakImplied Gain

Feb 18, 2025₹-50--7.1%

Feb 14, 2025₹-18--2.5%

Feb 12, 2025₹0₹300.0%

Feb 9, 2025+₹4₹80+0.6%

Feb 6, 2025+₹8₹150+1.1%

Hexaware Technologies IPO Subscription Status - Day Wise

DayOverallQIBNII (HNI)Retail

Day 1 (Feb 12)0.42x0.12x0.18x0.62x

Day 2 (Feb 13)0.94x0.62x0.48x0.92x

Day 3 (Feb 14)2.66x6.90x1.39x0.52x

Anchor Investors

Carlyle Group funds₹560 crore

SBI Mutual Fund₹420 crore

HDFC Mutual Fund₹380 crore

Government Pension Fund Global₹340 crore

Hexaware Technologies Ltd - Financials at IPO

YearRevenuePATNet Margin

FY22₹6,240 crore₹780 crore12.5%

FY23₹7,200 crore₹908 crore12.6%

FY24₹8,100 crore₹1,008 crore12.4%

Listed Peers - Technology / IT Services

InfosysIT Services

WiproIT / BPO

Frequently Asked Questions

When did Hexaware Technologies IPO list?

Hexaware Technologies IPO listed on February 19, 2025 on NSE and BSE at ₹658, a 7.1% discount to the issue price of ₹708.

What was Hexaware IPO GMP?

The grey market premium (GMP) for Hexaware IPO turned negative in the days before listing, reaching -₹50, correctly predicting the 7.1% listing discount.

What was Hexaware IPO subscription?

Hexaware IPO was subscribed 2.66x overall. QIB was 6.90x, NII was 1.39x, and retail was just 0.52x - weak retail demand.

What does Hexaware Technologies do?

Hexaware Technologies is a global IT and BPO services company serving financial services, healthcare, and retail clients across 30+ countries. It was taken private by Carlyle Group in 2020 and relisted in 2025.

What is Hexaware IPO price band?

The Hexaware Technologies IPO price band was ₹674-₹708 per share. Lot size was 21 shares. Minimum investment was ₹14,868. Issue size was ₹8,750 crore - India's largest IT IPO in 2025.

What is Hexaware IPO allotment date?

The allotment date for Hexaware IPO was February 17, 2025. Listing was on February 19, 2025.