Hexaware Technologies Limited has formally disclosed to stock exchanges that it does not qualify as a Large Corporate under the Securities and Exchange Board of India's framework for debt securities issuance. The IT services company made this clarification on January 08, 2026, through official communications to both the National Stock Exchange of India and BSE Limited.

Regulatory Compliance Disclosure

The disclosure was made pursuant to SEBI Circular No. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, which mandates entities to clarify their status under the fund raising framework for debt securities by Large Corporates. Under Para 3.1 (a) of this circular, companies are required to make initial disclosures regarding their classification status.

The company confirmed that it does not fall under the category of Large Corporate as per the applicability criteria specified in the SEBI circular. This determination is based on the regulatory framework outlined in Chapter XII of SEBI's Operational circular dated August 10, 2021.

Financial Position Details

Hexaware Technologies provided specific financial information to support its non-Large Corporate status classification:

The company reported zero outstanding borrowings as of December 31, 2025, which is a key factor in determining its classification under the SEBI framework. With no debt on its books, the company clearly falls outside the Large Corporate criteria that typically applies to entities with significant borrowing requirements.

Authorized Signatories

The disclosure was jointly signed by two key executives of Hexaware Technologies. Gunjan Methi, Company Secretary and Compliance Officer, and Vikash Kumar Jain, Chief Financial Officer, both digitally signed the documents on January 08, 2026. The dual authorization reflects the importance of regulatory compliance and ensures proper corporate governance in making such disclosures.

Regulatory Framework Context

The SEBI framework for Large Corporates is designed to ensure adequate debt market participation by entities with substantial borrowing capacity. Companies classified as Large Corporates are subject to specific requirements regarding their debt raising activities and must maintain certain thresholds of borrowings from debt securities markets.

By confirming its non-Large Corporate status, Hexaware Technologies has fulfilled its regulatory obligation to provide transparency regarding its position under this framework. This disclosure ensures that investors and regulatory authorities have clear information about the company's debt profile and regulatory classification status.

Hexaware technologies has secured approval for a significant corporate restructuring involving two of its key subsidiaries. The IT services company announced that it has received the necessary approvals to merge Mobiquity Velocity Solutions Inc and Mobiquity Inc, with the merger set to become effective from January 1, 2026.

Merger Details

The approved merger will consolidate two important subsidiaries under Hexaware's corporate umbrella. The transaction involves the integration of Mobiquity Velocity Solutions Inc and Mobiquity Inc, both of which operate under the Hexaware Technologies group.

Strategic Implications

This merger represents a strategic move by Hexaware Technologies to streamline its subsidiary operations. The consolidation of these two Mobiquity entities is likely aimed at creating operational efficiencies and better resource allocation within the group structure.

Timeline and Implementation

With the approval now in place, Hexaware Technologies has a clear timeline for the merger implementation. The January 1, 2026 effective date provides the company with adequate time to plan and execute the integration process smoothly, ensuring minimal disruption to ongoing business operations.

The merger approval marks an important milestone in Hexaware's corporate restructuring efforts, positioning the company for enhanced operational efficiency through consolidated subsidiary management.