TCS's record will be broken-India's largest IT IPO...?
In the current rally of the stock market, IPOs are being launched rapidly. A new name is going to be added to this series, Mumbai-based IT service providing company Hexaware Technologies. This IT sector company has submitted a draft (DRHP) regarding its IPO plan with the market regulator SEBI.
IT sector's biggest IPO
Hexaware Technologies plans to bring a huge IPO of about Rs 10 thousand crore. If its plan gets approval from the market regulator, then new records will also be registered in the name of the proposed IPO. Its name will be included in the queue of the country's biggest IPO till date. At the same time, it will become the biggest IPO till date for the IT sector.
This record of tcs will be broken
In the domestic market, the record of the biggest IPO of the IT sector is currently registered in the name of Tata Group's IT company TCS, which is also India's largest IT company. TCS i.e. Tata Consultancy Services had brought an IPO of Rs 4,713 crore about 2 decades ago. Hexaware Technologies plans to bring an IPO of Rs 9,950 crore. That is, the proposed IPO of Hexaware Tech is going to be about 2 times that of TCS.
Carlyle acquired in 2021
Hexaware Tech has appointed Kotak Investment Banking, Citi Global Markets, JP Morgan, SBC Securities and IIFL Securities as managers for the IPO. American private equity firm Carlyle is the promoter of the IT company. Carlyle bought Hexaware from Bearing Private Equity Asia (now EQT) in 2021 for about $3 billion.
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