Hexaware Technologies Lists at 5% Premium, Gains Further on Strong Institutional Support

Hexaware Technologies Limited, a leading global digital and AI services provider operating since 1992, made a positive return to the public markets on Wednesday, February 19, 2025. The company, which offers comprehensive technology solutions through its AI-powered platforms, commenced trading on both BSE and NSE with a notable premium and showed continued strength in early trading.

Hexaware Technologies Listing Details 

The company's market debut presented a strong correlation between institutional support and secondary market valuation:

• Listing Time & Price: When trading commenced at market open, Hexaware Technologies shares debuted at ₹745.50 on NSE, showing a healthy premium of 5% against the issue price of ₹708, while on BSE it listed at ₹731, up 3.14%. This strong opening came despite moderate overall subscription but was supported by robust QIB interest of 9.55 times.
• Issue Price Context: The company had fixed the IPO price at ₹708 per share, with an employee discount of ₹67. The market's response validates this pricing given the company's strong positioning in AI and digital services, along with its established global presence.
• Price Evolution: By 10:47 AM IST, the stock showed further strength, trading at ₹772.65 after hitting an intraday high of ₹778.40, representing an impressive gain of 9.95% from the issue price.

First-Day Trading Performance of Hexaware Technologies

The trading activity showed robust participation with bullish sentiment:

• Volume and Value: Within the first few hours, trading volume reached 99.42 lakh shares, generating a substantial turnover of ₹746.94 crore, with 99.25% of traded quantity marked for delivery.
• Demand Dynamics: The stock's trading pattern showed strong buying interest with orders for 14,25,755 shares against sell orders for 3,35,396 shares, indicating sustained institutional demand at current levels.

Market Sentiment and Analysis

• Market Reaction: Strong opening followed by continued momentum
• Subscription Rate: The IPO had been subscribed 2.79 times overall
• Pre-listing Interest: Anchor investors had invested ₹2,598 crore, indicating strong institutional confidence

Growth Drivers and Challenges 

Expected drivers of future performance:

• Deep domain expertise
• AI-led digital capabilities
• Strong customer relationships
• Global delivery model
• Experienced leadership
• Innovation focus

Potential challenges:

• Competitive intensity
• Talent retention
• Technology evolution
• Geographic expansion risks
• Client concentration
• Margin pressures

Utilisation of IPO Proceeds 

The ₹8,750 crore raised through offer for sale will go to the selling shareholders as this was entirely an OFS issue.

Financial Performance of Hexaware Technologies

The company has shown consistent growth:

• Revenue of ₹10,389.1 crore in CY2023
• 9M CY2024 (ended September 2024) showed revenue of ₹8,871.3 crore with PAT of ₹853.3 crore
• Net Worth of ₹4,876 crore as of September 2024
• Minimal borrowings
• Total assets of ₹8,594.2 crore as of September 2024

As Hexaware Technologies returns to the public markets, participants will closely monitor its ability to maintain growth momentum in the rapidly evolving technology landscape. The strong listing and subsequent trading pattern reflect investors' confidence in the company's AI-driven strategy and global delivery capabilities. The company's ability to execute its innovation agenda while maintaining operational efficiency will be crucial for sustaining investor confidence and supporting long-term value creation.