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Carlyle Group Inc. is considering options for Indian information technology firm Hexaware Technologies Ltd., including an initial public offering that could raise $1 billion, according to people familiar with the matter.
The US investment firm is speaking with potential arrangers to help prepare for an IPO in Mumbai this year or next, the people said, asking not to be identified because the matter is private. A share sale might value Hexaware at $4 billion or more, they said.
At about $1 billion, it would be the biggest IPO in the country since Life Insurance Corp. of India’s in 2022, according to data compiled by Bloomberg. That company’s shares slumped initially but have mostly recovered.
While an IPO is the preferred option for Hexaware, alternatives include a stake sale to an investment firm or industry peer, the people said.