Hexaware Technologies, a global tech and business services company, debuted on the Indian stock market, raising ₹8,750 crore. This is the largest-ever public issue in the Indian IT services sector. At close, the company’s shares rose nearly 8%.
The company’s CEO, R Srikrishna, called the listing a major step forward, emphasising transparency, accountability, and client-focused growth.
According to the company, Hexaware specialises in AI-first solutions and has over 31,000 employees in 54 offices in 28 countries.
“This is an opportunity to deepen our relationships with stakeholders and reinforce our commitment to operating with transparency, accountability, and a focus on delivering meaningful solutions to our clients. We are excited about the road ahead,” Srikrishna said.
With offices worldwide, the company claims to help enterprises achieve fast and scalable transformation by optimising their systems. It serves clients across the banking, financial services, capital markets, healthcare, insurance, manufacturing, retail, education, telecom, high-tech & professional services, travel, transportation, and logistics sectors.
With this listing, Hexaware signals its ambition to accelerate growth and deliver greater value on a global scale. CFO Vikash Kumar Jain also highlighted the increased market visibility and investor engagement the move enables.
Meanwhile, Kapil Modi, managing director at Carlyle India Advisors, Hexaware’s parent company, said, “Carlyle remains committed to partnering with the Hexaware team as it continues to focus on client centricity and delivering differentiated value for its customers and as it embarks on its next phase as a publicly traded company.”
The Indian IPO market is witnessing a significant upswing, with several companies preparing to go public in 2025. The lineup includes Swiggy, Ather Energy, Reliance Jio, OfBusiness, and AI startup Fractal. The market’s growth trajectory in 2024, which saw a 149% increase in IPO value to $18.4 billion, has set a promising stage for the upcoming year.
