Hexaware Technologies IPO
Hexaware Technologies Limited (HEXT) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 19 February 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -0.2% (likely range -10% to +12%), day's high +10.2%, chance of a gain 49%. Actual: +5.3% at the open, +11.3% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 2,56,97,329 | 23,36,61,582 | 9.09x | |
| NII (HNI) total | 1,92,72,997 | 39,48,924 | 0.20x | |
| Big NII (above ₹10 lakh) | 1,28,48,665 | 29,58,816 | 0.23x | |
| Small NII (₹2-10 lakh) | 64,24,332 | 9,90,108 | 0.15x | |
| Retail | 4,49,70,327 | 47,64,102 | 0.11x | |
| Employees | 14,82,701 | 4,70,358 | 0.32x | |
| Total | 9,14,23,354 | 24,28,44,966 | 2.66x |
Bids on NSE and BSE together, as published by NSE, as of 14 Feb 2025, 07:00 PM. Shares offered exclude the anchor portion. 2% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Hexaware Technologies's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Gland PharmaNov 2020 | 6.40x | 0.51x | 0.24x | 2.06x | ₹6,480 Cr | +14.0% | +23.3% |
| SBI Life Insurance CompanySep 2017 | 12.6x | 0.70x | 0.85x | 3.58x | ₹8,400 Cr | +5.0% | +5.7% |
| Hyundai Motor IndiaOct 2024 | 6.97x | 0.60x | 0.50x | 2.37x | ₹27,870 Cr | -1.3% | +0.5% |
| SwiggyNov 2024 | 6.02x | 0.41x | 1.14x | 3.59x | ₹11,329 Cr | +7.7% | +19.4% |
| Vedant FashionsFeb 2022 | 7.49x | 1.07x | 0.39x | 2.57x | ₹3,149 Cr | +8.0% | +14.6% |
| ICICI Lombard General Insurance CompanySep 2017 | 8.17x | 0.83x | 1.23x | 2.98x | ₹5,701 Cr | -1.5% | +5.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| Citigroup Global Markets India Private Limited J.P. Morgan India | 35 | +14.2% | 63% |
| HSBC Securities and Capital Markets (India) | 15 | +8.3% | 87% |
| IIFL Capital Services Limited (formerly known as IIFL Securities Limited) | 11 | +5.7% | 64% |
Offer documents (NSE)
Frequently asked
What is the Hexaware Technologies IPO price band and lot size? ₹674–708 per share, with a lot of 21 shares, so the smallest retail bid is ₹14,868.
How many times has it been subscribed? 2.66x overall: QIB 9.09x, NII 0.20x, retail 0.11x, employees 0.32x.
How did it list? It opened at ₹746, +5.3% against the issue price of ₹708, and closed its first day +7.7%.
