Hexaware Technologies IPO subscribed 2.7 times, driven by strong QIB demand

In a tough market environment, Hexaware Technologies’ IPO managed to garner 2.7 times subscription, thanks to bids from qualified institutional buyers (QIBs). The successful closure of the Rs 8,750 crore IPO—the largest ever for an IT services company in India—paves the way for the Carlyle Group-owned firm to relist on domestic bourses. The QIB portion of the issue garnered 9.1 times subscription.