BUZZ-India's Hexaware Tech IPO fully subscribed on final day of bidding

Reuters
02-14
BUZZ-India's Hexaware Tech IPO fully subscribed on final day of bidding

** India's Hexaware Technologies HEXW.NS 87.50 billion rupees ($1.01 bln) IPO fully subscribed on day 3 of bidding, exchange data shows

** Carlyle Group-backed CG.O IT firm's IPO receives bids worth over 90.31 billion rupees at the upper end of the 674-708 rupees price band

** Qualified institutional buyers bid for nearly five times the shares reserved - exchange data

** Non-institutional investors and retail subscriptions muted at hardly a tenth of shares on offer - exchange data

** HEXW, earlier this month, cut its IPO size to 87.5 billion rupees from 99.5 billion rupees

** No new shares will be issued in the IPO, while CA Magnum Holdings - affiliate of Carlyle Group - will sell part of its stake, prospectus shows

($1 = 86.8450 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

((Kashish.tandon@thomsonreuters.com))

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