A comprehensive breakdown of Hexaware's fundamentals, GMP trends, and whether retail investors should apply.
Hexaware Technologies IPO: Complete Analysis
Hexaware Technologies, one of India's fastest-growing IT companies, has announced its IPO. Let's break down what you need to know.
Company Overview
Hexaware Technologies is a global technology and business process services company. Backed by Carlyle Group, this is one of the largest tech IPOs in recent memory.
GMP Analysis
The Grey Market Premium has been consistently strong, reflecting high investor confidence. At ₹90+ GMP, the market is pricing in significant listing gains.
Fundamental Analysis (RHP)
- Revenue Growth: 15.2% YoY growth in FY24
- EBITDA Margin: 18.5% — healthy for an IT services company
- Client Concentration: Top 10 clients contribute ~45% revenue (moderate risk)
- Debt: Low debt-to-equity ratio of 0.2x
Subscription Reality
QIBs are expected to oversubscribe significantly. Retail interest is also high given the brand name.
Final Takeaway
Apply with confidence for listing gains. Long-term investors should evaluate post-listing at correction.