Hexaware Technologies Soars 5.3% on Market Debut, Defying Muted Expectations

Hexaware Technologies (HEXW.NS) made a strong market debut today, with shares opening at ₹745.5 in pre-open trade on the NSE, a 5.3% premium to its IPO price of ₹708. This impressive listing defies earlier analyst predictions of a muted debut amid broader market weakness. The ₹8,750 crore IPO, India's largest IT services offering since TCS two decades ago, was oversubscribed 2.66 times. Hexaware's AI-driven approach and strong financial performance, including a 13.7% revenue CAGR from FY21 to FY23, likely contributed to investor enthusiasm. The successful listing signals continued appetite for quality tech stocks in the Indian market.

 

Sources: Reuters, Economic Times,