If you are planning to invest in IPO Market, then this news is for you. In fact, the IPO of IT sector veteran company Hexaware Technologies is going to open, which has revealed details. For subscription, this issue will open on February 12 and investors will be able to invest in it by 14 February. Let’s know the complete information from its size to the price band …
Plan to raise Rs 8,750 crore
Hexaware Technologies IPO is ready to open and after opening anchor investors on February 11, common investors will be able to bid in it on February 12. The issue of this company providing IT services can be intentioned by 14 February. The price band of the IPO has also been fixed by the company, which is Rs 675-708 per share. Let us know that Hexaware Tech has planned to raise Rs 8750 crore from the market through its IPO.
Shares will be sold through ofs
The IPO of Hexavier is completely offer for sale (offs) issue. Through this, 12,35,87,570 shares with a face value of Rs 1 will be kept for sale. After closing on 14 February, the IPO allotment will be done on 17 February and the share credit process will start on 18 February in investors’ demat account. After this, the listing of the company’s shares on BSE-NSE will be on February 19.
Partner in profit by applying Rs 14,868
Now let’s talk about the lot size of this IPO, so for the Hexaware Tech IPO, the company has fixed the lot size of 21 shares and according to this, any investor will have to invest at least Rs 14,868. An investor can bid for a maximum of 13 lots or 273 shares and for this maximum will have to be invested Rs 1,93,284. Even before it is open, this IPO is trading in gray-market at a premium of Rs 46.
Discount of Rs 67 to employees
IT Solutions Provider Hexaware Tech was established in 1992 and its headquarters are in Navi Mumbai. Hexavier Technologies has a major offshore delivery center of India (Chennai, Pune, Bengaluru, Noida, etc.) and Sri Lanka. Under this IPO, Hexawire Technologies have reserved shares of Rs 90 crore for their employees and they are also being offered a discount of Rs 67 per share in the IPO. Apart from this, 50 per cent for QIB, 15 per cent for NII and 35 per cent for retail investors are reserved.
(Note- Be sure to consult your market experts before any kind of investment in the stock market or IPO market.)