Hexaware picks five i-banks for $1-bn IPO

IT services provider Hexaware Technologies has hired JP Morgan, Citi, ICICI Securities, HSBC, and Kotak Mahindra Capital for its initial public offering (IPO), which could potentially raise up to $1 billion, according to reports.

The IPO is poised to be the largest in the Indian IT services sector since Tata Consultancy Services (TCS) went public.

Sources close to the company told FE there are plans for an IPO in a “few months”, but since the discussions are in the preliminary stages, the timeline and valuation details are subject to change.