Hexaware Technologies has launched a blockbuster initial public offering (IPO) valued at $1 billion, marking the largest public listing by an Indian IT services firm. The offering, structured as an offer for sale, was spearheaded by CA Magnum Holdings, an affiliate of the Carlyle Group.
A team from Shardul Amarchand Mangaldas & Co. played a pivotal role in advising both Hexaware and its promoter shareholder throughout the process. The IPO ranks as the seventh-largest private sector listing in India’s history, underscoring the strong investor confidence in the IT sector.
Leading financial institutions, including Kotak Mahindra Capital, Citigroup Global Markets India, J.P. Morgan India, HSBC Securities, and IIFL Capital, served as book-running lead managers for the offering.
The transaction was steered by top industry professionals, with key figures overseeing the legal and corporate advisory aspects to ensure a seamless listing. This milestone IPO is expected to set new benchmarks for India’s tech-driven market and strengthen Hexaware’s position as a formidable player in the global IT landscape.