Mumbai: Hexaware Technologies Limited (HTL) is coming out with its Initial Public Offering (IPO) priced at Rs 674 to Rs 708 per equity share. The IPO will open on February 12, 2025 and close on February 14, 2025.
The IPO comprises an ‘Offer for Sale” of equity shares — aggregating to Rs 8,750 crores – by CA Magnum Holdings (The Promoter Selling Shareholder.)
Describing HTL as the fastest-growing IT company with million-dollar revenue, Srikrishna Ramakarthikeyan, CEO, Hexaware Technologies Limited, told media here recently that it builds software and runs it with ‘Cloud’ as a foundation.
Noting that HTL has a long-term relationship with 31 Fortune 500 companies, he said the Company witnessed FY23 Revenue at Rs 10, 380 crores; 9mFY24 at growth at 17.4 % and EBITDA margin FY24 at Rs 8,820 crores.
It is operating in segments like financial, healthcare & insurance, manufacturing & consumer, hi-tech & professional services, banking, travel and transportation.
“While HTL has the highest ‘glass door” rating and the lowest attrition rate in Industry, its growth rate accelerated from 7% in 2024 to 13% this year with 72% of its revenue coming in from North America, 22% from Europe (“fastest-growing market for us”) and 6% from the Asia-Pacific region.”
Pointing out that the proceeds of this IPO will go not to the company but in increased dividends to the shareholders, Ramakarthikeyan said the potential focus is on capability acquisition as “we are growing faster than India IT and gaining the market share.”
Stating that Asia is expected to grow faster than Europe, he said the company’s focus is on India and the Middle East. “We have done some correction and expecting important incremental growth there, while Europe too is expected to do quite well.”
“While all foundation in Data is AI and in engineering, our focus is on Acquisition, where the capability areas are adjacent to us. The size of Indian markets changed in the past five years when delisting started and we are super excited in being a public listed company.”
Replying to questions, he said “We don’t need CAPEX as we have 183 million debt-free in cash, the competition continues to remain the same and we are in a pretty good place on margins.”
