Hexaware Technologies Limited has informed the Exchange regarding 'Merger of Wholly Owned Subsidiary'.
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Hexaware Technologies Limited has completed the merger of its wholly-owned subsidiary Softcrylic LLC (USA) into another wholly-owned subsidiary Hexaware Technologies Inc (USA), effective May 1, 2026. The transferor company had revenue of USD 29.03 million for FY2025, while the transferee company reported revenue of USD 591.76 million for the same period. No cash consideration is involved; instead, Hexaware Technologies Inc will issue 1,954 new shares to Hexaware Technologies Limited at a share exchange ratio of 1:5,314. Both entities operated in complementary areas of technology-enabled services and were under common control. The transaction is between related parties but conducted at arm's length price.
This merger is an internal group restructuring with no direct impact on Hexaware Technologies Limited's standalone financials or shareholding pattern. It streamlines the US operations by consolidating two wholly-owned subsidiaries into one, potentially reducing administrative overhead and simplifying the group structure.