Share Market News / This company will break the record of Ratan Tata's biggest company

Share Market News: Understanding the fluctuations in the Indian stock market has always been challenging for investors. The market sometimes shows a boom and sometimes faces a recession. Recently, on Friday, the Sensex fell 0.25 percent to close at 77,860.19 points. However, a big change will be seen in the market next week, when the country's largest IT sector IPO will be launched. This IPO will break the 20-year-old record of Tata Consultancy Services (TCS). The company offering this IPO is - Hexaware Technologies.

IPO of Hexaware Technologies

Mumbai-based IT company Hexaware Technologies is bringing its IPO on February 12, which will be the largest IPO in the IT sector so far. Its issue size will be Rs 8,750 crore, which is almost double the Rs 4,713 crore IPO of TCS in the year 2004.

Key details of IPO

Opening and closing date: The IPO will open on February 12 and investors will be able to bid till February 14.

Issue size: Rs 8,750 crore.

Price band: Rs 674-708 per share.

Type of IPO: It is completely OFS (Offer for Sale) based, in which promoter Carlyle is selling its stake.

Promoter's stake: Currently Carlyle's stake is 95%, which will come down to 74.1% after the IPO.

Lot size: Retail investors will have to bid for at least 21 shares, for which they will have to invest at least Rs 14,868.

Grey market premium (GMP)

Currently, the grey market premium (GMP) of Hexaware Technologies is running at Rs 11. This means that this IPO can be listed around Rs 719, giving investors a listing gain of around 1.5%.

History of Hexaware

Hexaware Technologies is making a comeback in the Indian stock market after five years. The company was delisted in September 2020, when its promoters accepted a delisting price of Rs 475 per share. Now, it is all set to enter the market once again through an IPO.

Opportunity for investors

The IPO of Hexaware Technologies can provide an important opportunity in the IT sector. The performance of the company and market trends can make it a strong investment option. However, investors should invest in it only after doing a thorough analysis of market fluctuations and the financial position of the company.

Conclusion

This IPO of Hexaware Technologies can prove to be an important event in the Indian stock market. Its impact will be seen not only on the IT sector but also on the entire stock market. Investors are advised to invest wisely after considering all the terms and conditions of this IPO.