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Hexaware Technologies
ListedTechnology2025A mid-tier IT services firm returning to the bourses under PE ownership. The largest IT IPO in India at the time.
Return from IPO
+12%
₹708 → ₹790
Issue Price
₹708
Listing Price
₹745
Current
₹790
52W High
₹915
52W Low
₹660
Listing Gain
+5.2%
Company Overview
Introduction
Hexaware Technologies is a global digital and technology services company providing IT, BPS and cloud transformation services across financial services, healthcare and travel verticals.
Business Model
Earns recurring revenue from outsourced IT and digital engagement with global enterprises, with an automation- and AI-led delivery model.
Industry Analysis
Enterprise demand is shifting toward cloud, data and AI-led modernisation, benefiting agile mid-cap IT firms.
Promoters
CA Magnum Holdings (Carlyle Group)
IPO Details
Issue Size
₹8,750 Cr
Price Band
₹674 – ₹708
Lot Size
21 shares
Open → Close
12 Feb 2025 – 14 Feb 2025
Listing Date
19 Feb 2025
Listing Gain
+5.2%
Subscription (times)
2.7x
Overall
9.1x
QIB
0.2x
NII
1.1x
Retail
Market Performance
Current Price
₹790
Market Cap
₹48,000 Cr
P/E Ratio
38.0
Dividend Yield
0.6%
ROE
20.4%
ROCE
25%
Financials
Revenue CAGR +10.3%| Fiscal Year | Revenue | Profit | EBITDA | Net Worth | Debt |
|---|---|---|---|---|---|
| FY22 | ₹9,379 Cr | ₹884 Cr | ₹1,500 Cr | ₹4,200 Cr | ₹300 Cr |
| FY23 | ₹10,380 Cr | ₹998 Cr | ₹1,650 Cr | ₹5,000 Cr | ₹250 Cr |
| FY24 | ₹11,400 Cr | ₹1,100 Cr | ₹1,800 Cr | ₹5,900 Cr | ₹200 Cr |
All figures in ₹ crore.
Price History
IPO Price vs Current
Returns
Key Numbers
GMP
₹22
Issue Size
₹8,750 Cr
Return from IPO
+11.6%
Listing Gain
+5.2%
News & Updates
- 20 Apr 2026
Hexaware wins multi-year AI transformation deal
Business Standard
- 22 Jul 2025
Carlyle pares stake via block deal
Mint
SWOT Analysis
Strengths
- • Strong cloud and automation capabilities
- • Diversified vertical mix
- • Low debt
Weaknesses
- • Client concentration in BFSI
- • PE-driven supply overhang
Opportunities
- • AI-led services demand
- • Large-deal expansion
Threats
- • Discretionary IT-spend slowdown
- • Currency and wage pressures
Figures are illustrative sample data for demonstration — not investment advice.