Carlyle-owned Hexaware Tech to launch Rs 9,500-cr IPO next week

MUMBAI: Private equity major Carlyle-promoted Hexaware Technologies, is launching the country’s largest ever IPO in the IT services space next week, raising Rs 9,500 crore. Carlyle had bought Hexaware, which has been renamed as ETQ now, from Baring Private Equity Asia in 2021.

This will be biggest ever IPO in the IT services and enterprise tech segment since the Rs 4,713-crore issue of the industry leader Tata Consultancy Services way back in 2002. TCS has now become the second most valued IT services firm on Dalal Street with over Rs 14.8 trillion of market cap (as of Wednesday’s share price).