HEXT · price
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Hexaware Technologies has received approval from the New Jersey Division of Revenue for merging its wholly-owned subsidiary Softcrylic LLC (Transferor) into another wholly-owned subsidiary Hexaware Technologies Inc (Transferee), effective May 1, 2026. Softcrylic had a turnover of USD 29.03 million while Hexaware Technologies Inc had a turnover of USD 591.76 million for FY2025. Both entities operate in the same business of IT consulting, software development, and business process services. No cash consideration is involved; the exchange ratio is 1 share of Hexaware Technologies Inc for 5,314 membership interests of Softcrylic LLC, resulting in issuance of 1,954 new shares. The transaction is classified as a related party transaction at arm's length.
This is an internal corporate restructuring involving two wholly-owned US subsidiaries. Since both entities are under the same control and fully owned by the listed company, there is no change in the shareholding pattern of Hexaware Technologies Ltd. The merger simplifies the group structure and may reduce administrative costs but has no direct material impact on the listed entity's financials or stock price.