Hexaware Technologies Limited's Board of Directors has approved significant corporate restructuring measures during its meeting held on December 18, 2025. The board sanctioned a comprehensive scheme of amalgamation involving two wholly-owned subsidiaries and made changes to its committee composition.

Merger Scheme Approval

The board approved a scheme of amalgamation by way of merger by absorption under Sections 230 to 232 of the Companies Act, 2013. The merger involves Softcrylic Technology Solutions India Private Limited and Mobiquity Softech Private Limited being absorbed into Hexaware Technologies Limited as the transferee company. The combined turnover of the two subsidiaries for the nine months ended September 2025 is ₹153.33 crores.

Business Operations and Rationale

The three entities operate in complementary areas of technology-enabled services. Softcrylic Technology Solutions India Private Limited focuses on software development and other IT-enabled services, while Mobiquity Softech Private Limited specializes in mobile technology solutions and end-to-end omnichannel digital consulting services. Hexaware Technologies operates across information technology consulting, software development, business process services, data and AI, cloud, Digital IT Operations, and enterprise platforms.

The merger rationale centers on consolidating operations under the same control and management structure. Since both transferor companies are wholly-owned subsidiaries of Hexaware Technologies, no cash consideration is involved in the transaction. The proposed merger is expected to benefit all stakeholders including shareholders, creditors, employees, and other parties involved.

Regulatory Compliance

The transaction does not fall within the purview of related party transactions according to General Circular No. 30/2014 dated July 17, 2014, issued by the Ministry of Corporate Affairs. The merger is subject to sanction from the National Company Law Tribunal or Central Government. Additionally, pursuant to Regulation 23(5)(b) of the Listing Regulations, related party transaction provisions are not applicable as the scheme involves a holding company and its wholly-owned subsidiaries.

Committee Reconstitution

The board also reconstituted the Nomination and Remuneration Committee with immediate effect. Kapil Modi, Non-Executive Director, has been appointed as a new member of the committee, while Neeraj Bharadwaj, Non-Executive Director, ceased to be a member.

The reconstitution aligns with Regulation 30 read with Regulation 19 and other applicable regulations of the Listing Regulations. The updated committee composition has been formally documented and communicated to the stock exchanges.

Corporate Structure Impact

Since the transferor companies are wholly-owned subsidiaries, the merger will not result in any changes to the shareholding pattern of the listed entity. The consolidation is expected to streamline operations and enhance operational efficiency within the Hexaware Technologies group structure.

Hexaware Technologies has announced a key senior leadership appointment to strengthen its Digital Software business unit. The global IT services provider has appointed Raghu Mocherla as Senior Vice President-Digital Software to lead the Cyber-Physical Software and Systems portfolio within the Digital Software business unit.

Leadership Role and Responsibilities

In his new position, Mocherla will lead the Cyber-Physical Software and Systems portfolio within Hexaware's Digital Software business unit. His responsibilities will encompass driving strategy, portfolio expansion, business growth, and ensuring client success across this specialized domain.

Professional Background and Experience

Mocherla brings over 25 years of extensive experience in technology services with deep market focus in product engineering, R&D, and industrial operations. He is recognized for building and scaling high-growth businesses across multiple industry verticals.

Over the past decade at Capgemini, he served as Industry Head and P&L leader for the ER&D business line in Americas. Most recently, he led the industrial manufacturing, automotive, rail, aerospace, and defense sectors, while serving on the ERD Americas Executive Committee.

Strategic Focus on AI and Digital Convergence

The appointment comes as AI reshapes the convergence of digital and physical worlds, with enterprises accelerating how they embed advanced software, intelligence, and connectivity into products, platforms, and operations. Hexaware's Digital Software business unit focuses on helping clients unlock potential across cyber-physical systems, connected AI at the edge, and AI systems engineering.

This enables clients to build smarter products, modernize industrial operations, and realize a connected digital thread end-to-end.

Leadership Commentary

Sanjay Salunkhe, President and Global Head-Digital & Software Services at Hexaware, highlighted Mocherla's qualifications: "Raghu brings a powerful combination of product engineering depth, industrial domain expertise, and a track record of scaling global businesses. As our clients rethink how products, software, and operations come together in an AI-first world, his leadership will be central to sharpening our Digital and Software Services strategy and taking this business to its next phase of growth."

Commenting on his appointment, Mocherla expressed his enthusiasm: "I'm truly excited to lead Hexaware's next wave of offers and growth in Cyber-Physical Software and Systems. We have a phenomenal opportunity in front of us to position Hexaware as an end-to-end strategic technology services partner that can deliver AI-driven innovation, software solutions, and thought leadership with meaningful outcomes across IT, product engineering, and manufacturing functions for our clients and industry."

Educational Background

Mocherla holds degrees in Computer Science Engineering and Business Management and is based in Boston, positioning him strategically for the Americas market operations.