Hexaware Technologies Limited has announced the incorporation of a wholly owned subsidiary in Egypt, named Hexaware Technologies Services, as per a regulatory filing submitted to stock exchanges on May 12, 2025. The move aligns with the company’s ongoing global expansion strategy in the information technology sector.
The subsidiary has been established in accordance with Egyptian legal provisions, specifically under Companies Law No. 159 of 1981, following approval from the General Authority for Investment and Free Zones (GAFI). The registered capital of the new entity is set at USD 25,000, divided into 25 shares of USD 1,000 each.
Hexaware clarified that the new entity does not fall under any related party transaction and that the incorporation is within the company’s primary line of business. The subsidiary is expected to strengthen Hexaware’s global service delivery capabilities, though the company has not disclosed immediate operational plans or turnover projections for the new unit.
The filing further states that the newly incorporated unit will be wholly owned and controlled by Hexaware Technologies Limited. The company emphasized that all disclosures were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
