Hexaware Plans $1B IPO: Hexaware Technologies, a leading IT services provider, is gearing up for its initial public offering (IPO), aiming to raise up to $1 billion. The company has appointed JP Morgan, Citi, ICICI Securities, HSBC, and Kotak Mahindra Capital as its advisors for the IPO, making it one of the largest offerings in the Indian IT services sector since Tata Consultancy Services (TCS) went public.
The IPO plans come after Hexaware’s delisting from the BSE and National Stock Exchange in November 2020, where its promoters accepted a delisting price of ₹475 per share, marking a successful exit from Indian bourses. In October 2021, Carlyle Group acquired a majority stake (62%) in Hexaware from Baring Private Equity Asia for approximately $3 billion.
Hexaware specializes in IT and business process outsourcing services, with a strong focus on cloud, data, and artificial intelligence solutions. The potential IPO aligns with Carlyle’s broader strategy to optimize its investment in Hexaware, leveraging its strong market position and growth potential.
Additionally, Hexaware recently announced the acquisition of Softcrylic, a data consulting firm based in Minneapolis, as part of its expansion and consolidation strategy in the IT services sector. This move further strengthens Hexaware’s capabilities in data services and reinforces its commitment to innovation and growth in the digital space.
