Carlyle Announces the Listing of Hexaware Technologies, the Largest Technology Services IPO Globally in Over a Decade

Hexaware Technologies Makes Historic IPO debut

Global IT services company Hexaware Technologies Ltd. has successfully listed on both teh Bombay Stock Exchange (BSE) and the National Stock exchange (NSE) in India. Marking a significant milestone in the Indian tech sector, the $1 billion IPO represents the largest technology services IPO globally in over a decade.

Hexaware’s global presence spans 54 offices across 28 countries, employing over 31,000 professionals. The company specializes in AI-first solutions, partnering wiht enterprises to navigate digital change by building, transforming, running, and optimizing technology and business processes. Its client base encompasses diverse sectors, including banking, finance, healthcare, insurance, manufacturing, retail, and more.

“Hexaware’s IPO is the largest technology services IPO globally over the last decade and marks an significant milestone in the company’s journey,” said Patrick McCarter, Co-Head of Global technology at Carlyle. “This moment reflects the strength of its talented management team, customer centricity, superior growth profile and differentiated digital capabilities. It also highlights the collaboration across Carlyle’s global network, leveraging our expertise in both India and the U.S. to create value for stakeholders.”

Carlyle acquired Hexaware in 2021 through a global cross-platform deal involving Carlyle partners and Carlyle Asia Partners.

In the four years since the acquisition,Carlyle has played a pivotal role in supporting Hexaware’s growth. Kapil Modi, Managing Director at Carlyle India Advisors, stated, “Hexaware exemplifies how we seek to leverage our One Carlyle global network to help businesses scale and expand. We are proud to have partnered with Hexaware on its growth journey and congratulate its extraordinary management team on this milestone. Carlyle remains committed to partnering with the Hexaware team as it continues to focus on client centricity and delivering differentiated value for its customers, and as it embarks on its next phase as a publicly traded company.”

R Srikrishna, CEO of Hexaware, expressed gratitude for Carlyle’s partnership and highlighted the meaning of the IPO: “We thank Carlyle for their strong partnership, and also their global relationships, network and expertise, wich have helped us grow considerably over the past four years”, said R Srikrishna, CEO of Hexaware. “listing on the public markets represents a significant step forward for Hexaware. This is an opportunity to deepen our relationships with stakeholders and reinforce our commitment to operating with transparency, accountability, and a focus on delivering meaningful solutions to our clients. We are excited about the road ahead.”

Carlyle’s buyout funds, boasting extensive experience in the technology sector, have invested over $38 billion in more than 290 deals globally as of December 31, 2024.

This IPO not only signifies a major success for hexaware but also demonstrates the growing strength and dynamism of the Indian technology market. As a public company, Hexaware is poised to leverage its expertise and resources to accelerate growth and innovation, delivering value to its stakeholders and shaping the future of the IT services landscape.

What are Hexaware’s plans for growth and expansion as a publicly traded company?

Hexaware Technologies: Charting a Historic course after Blockbuster IPO

An Exclusive Interview with R Srikrishna, CEO, Hexaware Technologies

Following the resounding success of hexaware technologies’ $1 billion IPO on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), Archyde caught up with R Srikrishna, CEO of the global IT services giant. Here’s what he had to say about Hexaware’s journey, its digital change strategies, and the future of the Indian tech market.

Hexaware: A Journey from Strength to Strength

“Listing on the public markets represents a significant step forward for Hexaware. This is an opportunity to deepen our relationships with stakeholders and reinforce our commitment to operating with openness, accountability, and a focus on delivering meaningful solutions to our clients. We are excited about the road ahead.” – R Srikrishna, CEO, Hexaware Technologies

hexaware executives Reflect on the IPO Milestone

How does it feel to lead Hexaware through this historic IPO?

R Srikrishna: It’s a moment of immense pride and gratitude. Pride for our team’s commitment and dedication that has led us to this stage, and gratitude towards our clients, partners, and investors for their continued support and trust in Hexaware.

How has Carlyle’s partnership driven Hexaware’s growth over the past four years?

R Srikrishna: Carlyle’s global relationships, network, and expertise have been invaluable in steering Hexaware’s growth. We’ve sharpened our focus on AI-first solutions, expanded our global footprint, and significantly enhanced our capabilities and client portfolio.

Hexaware IPO: A Testament to India’s Tech Growth Story

Hexaware’s IPO is not only a momentous occasion for the company but also a reflection of the growing strength and dynamism of India’s tech market. Can you share your thoughts on the Indian tech sector’s evolution?

R Srikrishna: The Indian tech sector has been on an unbelievable growth trajectory, fueled by increasing adoption of digital technologies, a burgeoning startup ecosystem, and a highly skilled talent pool. We’re witnessing an era of innovation, led by companies like Hexaware that are at the forefront of digital transformation.

Navigating the Changing Digital Landscape

Hexaware specializes in AI-first solutions. How do you see AI reshaping businesses and industries?

R Srikrishna: AI is already revolutionizing businesses and industries by automating complex tasks, uncovering actionable insights, and driving predictive decision-making. As AI continues to evolve, we’ll see it becoming even more integrated into everyday processes, enabling businesses to operate more efficiently, innovate faster, and remain competitive.

What advice would you give to other tech companies looking to navigate digital change successfully?

R Srikrishna: Embrace a customer-centric approach, continually invest in your digital capabilities, and foster a culture of innovation. collaboration with strategic partners like Hexaware can also accelerate your digital transformation journey and help unlock new opportunities.

Charting the Course for Hexaware’s Future

with Hexaware now a publicly-traded company, what are the next milestones for the organization?

R Srikrishna: We’ll continue focusing on driving value for our clients through our AI-first solutions. We aim to expand our geographic reach, grow our team, and safely navigate the opportunities and challenges that lie ahead. Our journey has just begun, and we’re excited about what’s in store for Hexaware.

R Srikrishna encourages Hexaware’s stakeholders, partners, and clients to stay tuned as the company embarks on the next phase of its growth, shaping the future of the IT services landscape, one innovation at a time.

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