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A&O Shearman guides the underwriters on USD1 billion IPO of Hexaware Technologies Limited

A&O Shearman guides the underwriters on USD1 billion IPO of Hexaware Technologies Limited
Published Date
Feb 19 2025

A&O Shearman has successfully advised Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), J.P. Morgan India Private Limited and Kotak Mahindra Capital Company Limited, as underwriters on the USD1bn IPO of Hexaware Technologies Limited (“Hexaware”), which listed on The National Stock Exchange of India Limited and BSE Limited in India. This will mark the largest tech services IPO by an Indian company to date.

Hexaware is a global digital and technology services company with artificial intelligence at its core. Prior to the IPO, CA Magnum Holdings held 95.03% of the pre-offer issued equity share capital of Hexaware. The IPO comprised an offer for sale by CA Magnum Holdings and is one of the largest public offerings from India in Fiscal 2025. The listing of Hexaware’s equity shares will enhance its visibility and brand recognition, while also providing liquidity to its existing shareholders.

A&O Shearman advised the underwriters, highlighting its strong capabilities in India’s equity capital markets. The firm has advised on several landmark Indian deals in recent years.

The A&O Shearman team was led by partner Pallavi Gopinath Aney, Alexander Stathopoulos and Serena Upadhyay.

"We are thrilled to have advised the underwriters on this landmark transaction, leveraging our deep experience in India's equity capital markets. This IPO showcases a strong appetite for Indian companies that are driving digital transformation and AI across industries and markets. We look forward to supporting our clients on their future strategic deals in India."

Image of Pallavi Gopinath Aney

Pallavi Gopinath Aney

Partner

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