Hexaware Technologies shares fall; Q4 results to be announced on March 6

The stock was down 1.32% to ₹799 per share on the National Stock Exchange (NSE) at 9:16 pm.

The company's market valuation stood at ₹48,557.84 crore.

In an exchange filing, the company said, "Hexaware Technologies Limited has informed the Exchange about Board Meeting to be held on 06-Mar-2025 to inter-alia consider and approve the Audited Financial results of the Company for the Yearly ended December 2024."

Hexaware Technologies shares made their market debut on February 19. It began trading at ₹745.50 apiece on the NSE, a premium of 5.29% over the issue price of ₹708.

On the BSE, it listed at ₹731, rallying 3.24%.

Hexaware Technologies IPO was subscribed 2.66 times due to institutional buyers' support. The ₹8,750-crore initial public offer had a price range of ₹674 to ₹708 per share.

The initial share sale was entirely an offer for sale (OFS) of shares valued ₹8,750 crore by promoter CA Magnum Holdings, part of Carlyle Group.

Since it was completely an OFS, all the proceeds from the issue went to the selling shareholder, rather than the firm.

Hexaware's public issue was the largest in the country's IT services sector after Tata Consultancy Services' (TCS') over ₹4,700 crore IPO over two decades ago.

On Friday, February 28, the company, in an exchange filing, said it has received an order under Section 73 of the Tamil Nadu Goods & Service Tax or CGST Act, 2017, for a total demand amounting to ₹127.50 crore for "certain alleged violation in FY 2020-21."

"Please note that basis assessment of facts and prevailing law, the Company is of the view that the GST demand (including penalty and interest) is unjustified. Accordingly, the Company is looking into appropriate legal remedies in consultation with its advisors. Accordingly, there is no likely material impact on the Company’s financials or operations due to the said order," Hexaware Tech added.