Hexaware Technologies IPO allotment status: Check application, latest GMP & listing date

Hexaware Technologies is likely to finalize the basis of allotment of its shares on Monday, February 17. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, February 18. The  IT solutions provider, looking to relist at bourses after September 20202, saw a muted response from the investors.
 

The IPO of Navi Mumbai-based Hexaware Technologies was open for bidding between February 12 and February 14. It had offered its shares in the price band of Rs 674-708 per share with a lot size of 21 shares. The company raised a total of Rs 8,750 crore via IPO, which was entirely an offer-for-sale (OFS) of up to 12,35,87,570 equity shares.
 

The issue was overall subscribed merely 2.66 times, thanks to the active interest from qualified institutional bidders (QIBs), whose allocation for the qualified institutional bidders (QIBs) was subscribed 9.09 times The portion for non-institutional investors (NIIs) was subscribed only 20 per cent. Allocation for retail investors and employees were just 11 per cent and 32 per cent, respectively.
 

The grey market premium (GMP) of Hexaware Technologies has completely vanished following a muted bidding for the issue and spooky sentiments for the broader markets. Last heard, the company was commanding no grey market premium (GMP), suggesting a flat listing for the investors. The GMP stood at Rs 20, before the issue kicked-off for the bidding.
 

Incorporated in 1992, Navi Mumbai-based Hexaware Technologies is engaged in the business of global digital and technology services with artificial intelligence. The company uses technology to offer innovative solutions, integrating AI to help customers adapt, innovate, and improve in the AI-driven world.
 

Kotak Mahindra Capital, Citigroup Global Markets India, JP Morgan India, HSBC Securities & Capital Markets and IIFL Securities are the book running lead managers of the Hexaware Technologies IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both NSE and NSE with February 19, Wednesday as the tentative date of listing.
 

Investors, who had bid for the issue of Hexaware Technologies, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Hexaware Technologies Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button
 

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
 

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.