Hexaware Technologies has made a return to the public markets, launching India’s largest-ever Initial Public Offering (IPO) in the IT services sector with a total issue size of ₹8,750 crore. The company’s shares debuted at ₹745.50 on the National Stock Exchange (NSE), a 5.3% premium over the issue price of ₹708. On the Bombay Stock Exchange (BSE), the shares opened at ₹731, reflecting a 3.25% premium. The stock continued its upward trajectory, reaching an intraday high of ₹788 on the NSE, an 11.3% increase from the IPO price. At market close, Hexaware’s shares were trading at ₹774.70 on the NSE, up 9.4% from the issue price, bringing the company’s market capitalization to approximately ₹47,078.11 crore.
The IPO, which was open for subscription from February 12 to 14, 2025, saw a subscription rate of 2.79 times, with significant interest from qualified institutional buyers.
Hexaware’s leadership expressed enthusiasm about this milestone. CEO R. Srikrishna stated, “Listing on the public markets represents a significant step forward for Hexaware. 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.”
CFO Vikash Kumar Jain added, “With our return to the stock exchange, we gain greater visibility in the market and the ability to engage more directly with our investors. It reflects our disciplined approach to growth and the financial strength that has brought us to this day.”
Non-Executive Chairman Joseph McLaren Quinlan highlighted the broader significance of this achievement: “Going public is not just a financial milestone—it’s a bold step toward accelerating our growth, expanding our impact, and driving innovation on a global scale. As we embark on this next chapter, we remain committed to delivering value, excellence, and results that define our company. Thank you to everyone who made this moment possible—our journey is just beginning!”
The company’s business is structured into six operating segments: Financial Services, Healthcare and Insurance, Manufacturing and Consumer, Hi-Tech and Professional Services, Banking, and Travel and Transportation. Its offerings span five key service areas: Design & Build, Secure & Run, Data & AI, Optimize, and Cloud Services.
This successful IPO marks a new chapter in Hexaware’s journey, positioning the company for accelerated growth and innovation in the global IT services landscape.Hexaware was previously listed on the Indian stock exchanges before being delisted in 2020 following a ₹9,100 crore buyout by Baring Private Equity Asia (now part of EQT). The delisting, which was one of the largest in India’s IT sector, allowed Hexaware to restructure its operations and accelerate growth as a privately held company. With its successful re-entry into the public markets in 2025, the company marks a significant turnaround, demonstrating its strong financial performance and strategic expansion over the past few years.