Carlyle Enlists JPMorgan, Kotak as Hexaware's IPO Arrangers

By Team Startupcity  |  Monday, 15 April 2024, 08:45 IST

Carlyle Enlists JPMorgan, Kotak as Hexaware's IPO Arrangers
By Baiju Kalesh and Manuel Baigorri, Carlyle Group Inc. has chosen JPMorgan chase & Co. and Kotak Mahindra Bank to assist with arranging Hexaware Technologies Ltd’s planned first IPO in Mumbai this year, as per individuals acquainted with the matter. 
The US venture company intends to hold the Initial public offering as soon as in the final quarter of this current year, individuals said, asking not to be distinguished as the considerations are private. 
More bankers & investors will probably be added for the potential $1 billion offering, which might estimate the Indian data innovation organization at as much as $6 billion, they said. 
An Initial public offering would assist owner Carlyle with paring a piece of its holding in Hexaware, individuals said. Considerations are at a beginning phase and Carlyle might decide the offer deal, individuals said. At about $1 billion, it would be the greatest Initial public offering in the country since Life Insurance Corp. of India’s offering in 2022, as per information collected by Bloomberg.
Data & information, for example, the Initial public offering size and worth of the organization may as yet change, individuals said. 
Representatives for Carlyle, Kotak and JPMorgan declined to remark. Carlyle has been investigating an Initial public offering of Hexaware, Bloomberg News has detailed. 
Hexaware gives IT and business process outsourcing, and offers cloud, information and Artificial intelligence administrations, as indicated by its site. 
Carlyle acquired Hexaware in 2021 from Baring Private Equity Asia Ltd., which is presently essential for Sweden’s EQT Stomach muscle. India has transformed into a flourishing business sector for potential deals including Initial public offerings as worldwide financial backers try to tap its development potential. Automakers, electric-bike creators and IT organizations are among those thinking about share deals this year.

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