Hexaware Technologies Ltd., a prominent player in the global IT and business process outsourcing (BPO) industry, has been making headlines with its recent IPO (Initial Public Offering). As investors eagerly explore this opportunity, questions arise about the company’s business performance and whether it qualifies as a halal stock for Islamic investors. In this article, we’ll delve into Hexaware’s business model, financial health, and its compliance with Shariah principles.
The IPO of Hexaware Technologies Ltd. has generated significant interest among investors. Here are some key details about the offering:
- bidding dates: 12 feb 2025 – 14 feb 2025
- minimum investment: रु14,154
- lot size: 21
- issues size: 8,750 cr
- Use of Proceeds: Funds raised from the IPO will be used to accelerate digital transformation initiatives, enhance automation capabilities, and explore strategic acquisitions.
Hexaware IPO allotment status
Hexaware IPO allotment will happen on 17 February 2025.
- to check Ajax Engineering IPO allotment status follow the steps below:
- click here Kfin technologies limited.
- select company name.
- enter PAN number, application number
- click on search
Is Hexaware a Halal Stock?
For Islamic investors, determining whether a stock is halal involves evaluating the company’s business activities, financial practices, and compliance with Shariah principles. Here’s an analysis of Hexaware from a halal investment perspective:
- Business Activities: Hexaware operates in the IT services and consulting sector, which is generally considered halal. The company does not engage in activities prohibited by Islamic law, such as alcohol, gambling, or interest-based financial services.
- Interest-Bearing Debt: One of the key criteria for a halal stock is that the company’s interest-bearing debt should not exceed 30% of its market capitalization. Hexaware has maintained a relatively low debt-to-equity ratio, which is a positive sign for Shariah-compliant investors.
- Non-Halal Income: Hexaware’s revenue is primarily derived from IT services, which are permissible under Islamic law. The company does not generate significant income from non-halal sources.
- Liquidity Ratio: Another Shariah requirement is that the company’s liquid assets should be less than 30% of its market capitalization. Hexaware’s financials indicate compliance with this criterion.
Based on these factors, Hexaware Technologies Ltd. appears to be a halal-compliant stock. However, investors should consult with a qualified Islamic finance advisor to ensure compliance with their specific investment criteria.
Conclusion
Hexaware Technologies Ltd. is a robust and growing company in the IT services sector, offering innovative solutions to clients worldwide. Its strong financial performance, focus on digital transformation, and compliance with Shariah principles make it an attractive option for both conventional and Islamic investors.
The IPO of Hexaware Technologies Ltd. presents a unique opportunity to invest in a company with significant growth potential. If you’re looking for a halal stock with promising returns, Hexaware is worth considering. As always, conduct thorough research and consult with financial experts to make informed investment decisions.
