Latest News | Hexaware Tech Shares Jump Nearly 8 Pc in Debut Trade; Mcap Hits Rs 46,418.76 Cr

New Delhi, Feb 19 (PTI) Shares of Hexaware Technologies Ltd on Wednesday ended with a premium of nearly 8 per cent against the issue price of Rs 708.

The stock began the trade at Rs 731, a premium of 3.24 per cent from the issue price on the BSE. During the day, it soared 11.27 per cent to Rs 787.80. Shares of the firm finally ended at Rs 763.85, registering a jump of 7.88 per cent.

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At the NSE, the stock listed at Rs 745.50, rallying 5.29 per cent. The stock ended at Rs 762.55, a premium of 7.70 per cent.

The company's market valuation stood at Rs 46,418.76 crore.

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In traded volume terms, 11.85 lakh shares of the firm were traded at the BSE and 189.50 lakh shares on the NSE during the day.

The initial public offering of Hexaware Technologies Ltd got fully subscribed on the last day of bidding on Friday, ending with 2.66 times subscription, on institutional buyers support.

The Rs 8,750-crore initial share sale had a price band of Rs 674-708 per share.

The initial share sale of the Mumbai-headquartered company was a complete Offer for Sale (OFS) of equity shares worth Rs 8,750 crore by promoter CA Magnum Holdings, part of Carlyle Group.

Since the entire issue was an OFS, all the proceeds from the IPO will go directly to the selling shareholder, rather than the company.

Hexaware's public issue is the largest in the country's IT services sector since Tata Consultancy Services' over Rs 4,700 crore IPO more than two decades ago.

Hexaware Technologies is a global digital and technology services company.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)