Hexaware Technologies, recently re-listed via India’s largest-ever IT IPO (₹8,750 Cr), has returned to the public markets swinging GenAI buzzwords like Thor’s hammer. Backed by PE giant Carlyle and now chasing midcap growth glory, this AI-led IT services company has scale, ambition, and… a valuation that would make even Persistent blush.
2. 🎬 Introduction with Hook
Once delisted by Carlyle at ₹475, now re-listed at ₹630 and racing toward ₹900 — Hexaware is having its rebirth moment. It’s got: 🧠 AI everything 📈 19% 3Y revenue CAGR 🏆 More awards than a Bollywood film during IIFA season
But behind all this glam, is the business solid enough to justify the hype? Or is this just another SaaSified IT firm with marketing muscle and mid-tier execution?
3. 💼 WTF Do They Even Do? (Business Model)
Hexaware is in the classic “Digital + AI + Cloud + ERP + Whatever’s Trending” bucket. Specifically:
Core offerings:
Application services
Cloud transformation
Data & AI platforms
Product engineering
Enterprise solutions (Oracle, SAP)
Clients: BFSI, healthcare, manufacturing, consumer & public sector
Delivery: Global centers in India, US, UK, Poland, Mexico
And now… ULTRAVOX. Their voice-AI partnership with Fixie.ai to make enterprise ops “smarter.” Because why not.
