Carlyle-backed IT exporter Hexaware valued at $5 bn on market debut day

Shares of Carlyle-backed Hexaware Technologies rose as much as 10 per cent in their debut on Wednesday, indicating rising retail interest in India’s first billion-dollar IPO that struggled to achieve full subscription without an outsized help from large institutions.

The stock began trading at Rs 745.50 on the National Stock Exchange, above its offer price of Rs 708. The blue-chip Nifty 50 index closed marginally lower.