Hexaware Tech IPO Listing: The shares of Hexaware Tech, which offered AI -related services, entered 5% premium in the domestic market today. However, its IPO received mixed response from investors and could not fill even half of anyone except for qualified institutional buyers (QIB). The overall issue received more than two and a half times bid. Shares have been issued at a price of Rs 708 under IPO. Today it has entered BSE at Rs 731.00 and Rs 745.50 on NSE i.e. IPO investors got a listing gain of about 5 %. Currently, it is on BSE at Rs 743 (Hexaware Tech Share Price) i.e. IPO investors are about 5 percent in profit. Employees are in more benefit as they have received every stock at a discount of Rs 67.
Hexaware Tech IPO got mixed response
The ₹ 8,750.00 crore IPO of Hexaware Tech was opened from 12-14 February for subscription. This IPO received mixed response from investors. Overall, it was subscribed 2.79 times but it was filled only 9.55 times the reserved part for qualified institutional buyers (QIB) and could not fill any part of the rest. The share of non-Integational Investors (NII) was 0.21 times and the retail investors were 0.11 times and the share of the employee was 0.33 times. Under this IPO, 12,35,87,570 shares with a face value of Rs 10,35,87,570 have been sold under the offer for sale window, that is, no new shares have been released.
About Hexaware Tech
Hexaware made in the year 1992 offers services related to Tech AI. It has important offshore delivery centers in Chennai, Pune, Bangalore and Noida etc. and Sri Lanka. The company plans to expand in Tier-2 Cities and to open new centers in Ahmedabad. According to data up to September 2024, it has 39 centers in the US, Europe and Asia Pacific and seven global delivery presences of 16 offices.