Global investment firm Carlyle has announced the listing of Hexaware Technologies Ltd on the Bombay Stock Exchange and National Stock Exchange in India. This move marks a significant milestone, with Hexaware’s total IPO issue size reaching $1 billion, making it the largest technology services IPO globally in over a decade.
Hexaware is a prominent global IT services company specializing in AI-first solutions, employing over 31,000 people across 54 offices in 28 countries. The company offers AI-powered platforms to assist enterprises worldwide in digital transformation by partnering with them to enhance their technology and business processes. It serves various sectors including banking, healthcare, insurance, manufacturing, retail, education, telecom, and more.
Carlyle acquired Hexaware in 2021 through a cross-platform deal involving Carlyle Partners and Carlyle Asia Partners. Since then, Carlyle has used its global network to help drive revenue growth for Hexaware while strengthening its digital capabilities.
Patrick McCarter, Co-Head of Global Technology at Carlyle stated: “Hexaware’s IPO is the largest technology services IPO globally over the last decade and marks an important milestone in the company’s journey.” He emphasized the strength of Hexaware’s management team and its differentiated digital capabilities.
Kapil Modi from Carlyle India Advisors remarked: “Hexaware exemplifies how we seek to leverage our One Carlyle global network to help businesses scale and expand.” He congratulated Hexaware on this achievement and expressed continued support as it becomes a publicly traded company.
R Srikrishna, CEO of Hexaware commented: “We thank Carlyle for their strong partnership… Listing on the public markets represents a significant step forward for Hexaware.”
Carlyle’s buyout funds have extensive experience investing in the technology sector with investments exceeding $38 billion globally as of December 2024.
