Hexaware Technologies’ Rs 8,750 crore IPO subscribed 15% on day two

Hexaware Technologies’ IPO had garnered 15 per cent subscription on Thursday, a day before its close. Bulk of the bids so far have come from institutional investors. Hexaware’s Rs 8,750 crore IPO is the largest ever for an IT services company in India. The company has already allotted shares worth almost Rs 2,600 crore to anchor investors.

The IPO price band is set at Rs 674-708 per share, valuing Hexaware at Rs 43,025 crore. The IPO is an entirely secondary sale by the US-based Carlyle Group, which will reduce its stake from 95.5 per cent to 74.7 per cent post-IPO.