DBT Bureau
Pune, 6 Feb 2025
Hexaware Technologies Limited proposes to open an initial public offering of its equity share of the face value of Rs 1 each on Wednesday, February 12, 2025. The Anchor Investor Bidding Date is one Working Day prior to the Bid/Offer Opening Date, being Tuesday, February 11, 2025. The Bid/ Offer Closing Date is Friday, February 14, 2025.
The Price Band of the Offer has been fixed from Rs 674 per Equity Share to Rs 708 per Equity Share. Bids can be made for a minimum of 21 Equity Shares and multiples of 21 Equity Shares thereafter.
The initial public offering comprises an offer for the sale of Equity Shares aggregating up to Rs 8,750 crores by CA Magnum Holdings.
The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein in terms of Regulation 32(1) of the SEBI ICDR Regulations, not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, provided that our Company in consultation with the BRLMs, may allocate up to 60% of the QIB Category to Anchor Investors, on a discretionary basis in accordance with the SEBI ICDR Regulations, of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which Equity Shares of face value of Rs 1 each are allocated to Anchor Investors. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares of face value of Rs 1 each shall be added to the QIB Category.
Further, 5% of the Net QIB Category shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Category shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price.
However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Category, the balance of Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Category for proportionate allocation to QIBs.
Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Investors of which one-third of the Non-Institutional Category shall be available for allocation to Bidders with a Bid size of more than Rs 200,000 and up to Rs 1,000,000 and two-thirds of the Non-Institutional Category shall be available for allocation to Bidders with a Bid size of more than Rs 1,000,000 provided that under-subscription in either of these two sub-categories of the Non-Institutional Category may be allocated to Bidders in the other sub-category of the Non-Institutional Category in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.
Further, not less than 35% of the Net Offer shall be available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price.
Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price.
All Bidders except Anchor Investors, shall mandatorily participate in this Offer through the Application Supported by Block Amount process and shall provide details of their respective bank account, including UPI ID for UPI Investors in which the Bid Amount will be blocked by the SCSBs or the Sponsor Banks, as the case may be. Anchor Investors are not permitted to participate in the Offer through the ASBA process.
The Equity Shares of the Company are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, HSBC Securities and Capital Markets (India) Private Limited and IIFL Capital Services Limited are the Book Running Lead Managers to the Offer.
