Hexaware raises INR ₹8,750 crores in historic IT IPO

Hexaware Technologies has successfully completed India's largest ever Initial Public Offering (IPO) by an IT service company, raising INR ₹8,750 crores.

The company recently marked its return to the public markets with this notable IPO, praised as the largest technology services IPO worldwide over the last decade. R Srikrishna, Chief Executive Officer of Hexaware, expressed that listing on public markets is a substantial advancement for the company. "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," Srikrishna stated.

Hexaware's Chief Financial Officer, Vikash Kumar Jain, emphasized the firm's increased profile and investor engagement following the listing. "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," he said.

Non-Executive Chairman, Joseph McLaren Quinlan, highlighted the broader implications of this achievement for Hexaware. "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!" Quinlan noted.

Patrick McCarter, Co-Head of Global Technology at Carlyle, expressed that Hexaware's IPO symbolizes the company's robust management and growth potential. "This moment reflects the strength of its talented management team, customer centricity, superior growth profile and differentiated digital capabilities. It also highlights the collaboration across Carlyle's global network, leveraging our expertise in both India and the U.S. to create value for all the stakeholders," McCarter stated.

Kapil Modi, Managing Director at Carlyle India Advisors, elaborated on the partnership between Carlyle and Hexaware. "Hexaware exemplifies how we leverage our One Carlyle global network to help businesses scale and expand. We are proud to have partnered with Hexaware on its growth journey and congratulate its exceptional management team on this milestone. Carlyle remains committed to partnering with the Hexaware team as it continues to focus on client centricity and delivering differentiated value for its customers, and as it embarks on its next phase as a publicly traded company," Modi explained.

The IPO holds significance for Hexaware employees who joined in celebrations across its offices nationwide. Now trading under the ticker symbol HEXT, Hexaware reiterated its dedication to principles of transparency, mutual respect, and quality, expressing gratitude to its employees, investors, and partners for their support.