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regular-article-logo Monday, 14 October 2024

Hexaware Technologies files draft prospectus with Sebi to raise Rs 9,950 crore via IPO

The IPO consists of only an offer for sale by promoter shareholder CA Magnum Holdings (an affiliate of Carlyle Private Equity), which currently holds 95.03 per cent of the share capital according to the draft prospectus

A Staff Reporter Calcutta Published 08.09.24, 11:39 AM
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Carlyle-backed Hexaware Technologies has filed a draft prospectus with Sebi to raise 9,950 crore through its initial public offer (IPO).

The IPO consists of only an offer for sale by promoter shareholder CA Magnum Holdings (an affiliate of Carlyle Private Equity), which currently holds 95.03 per cent of the share capital according to the draft prospectus.

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Hexaware currently manages its business throughsix operating segments — financial services, healthcare and insurance, manufacturing and consumer, high-tech and professional services, banking, and travel and transportation.

The IT services company serves customers across the Americas, Europe and Asia-Pacific (including India and West Asia) and has a global delivery presence comprising 38 delivery centers supported by 16 offices.

Hexaware’s previous promoter, Baring Private Equity Asia, delisted the company in 2020. Almost a year after the delisting, the Carlyle group acquired Baring’s stake in Hexaware.

As of June 30, 2024, it had a team of 31,870 employees in 28 countries led by Srikrishna Ramakarthikeyan, CEO and whole-time director.

As of calendar year 2023, revenue from operations was 10,380 crore with a net profit of 997 crore, and for the six months ended June 30, revenue from operations was 5,684 crore with a profit after tax of 553 crore.

The book running lead managers to the offer are Kotak Mahindra Capital Company, Citigroup Global Markets India, JP Morgan India, HSBC Securities and Capital Markets (India) and IIFL Securities Limited.

The equity shares are proposed to be listed on the BSE and the NSE.

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