A1 plus for Hexaware Technologies

ICRA has placed the A1 plus rating assigned to the Rs. 15 crore non-convertible debenture programme of Hexaware Technologies under rating watch with developing implications.

Hexaware Technologies (HTL) is in the business of software development and consultancy. It has recently announced a restructuring programme under which the training business of Aptech would be demerged into a separate listed company and HTL would be merged into the software division of Aptech. The restructuring exercise is being carried out to increase the scale of operations for the software business and to have a sharper focus. ICRA is in the process of evaluating the impact of proposed merger.

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Section  : Business
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