BENGALURU, Sept 6 (Reuters) - Carlyle Group ( CG )

affiliate, CA Magnum Holdings, plans to sell shares worth 99.5

billion rupees ($1.2 billion) in the upcoming IPO of Hexaware

Technologies, according to draft papers filed on Friday.

The U.S.-based private equity giant acquired a

controlling stake in the Indian company in 2021, a year after

Hexaware was taken private by its former controlling

shareholder, Baring Private Equity Asia (BPEA).

BPEA had initially purchased its stake in Hexaware in 2013

for about $420 million.

CA Magnum Holdings will be the only existing shareholder

selling its stake in the company, which provides information

technology and consulting services. Hexaware will not issue any

fresh shares in the IPO.

This offering is set to be one of India's largest IPOs this

year amidst a booming equities market that has seen successful

listings from companies such as Ola Electric Mobility

and Bharti Hexacom.

The Indian stock market has been on a tear, hitting

record highs over 50 times this year. According to LSEG data,

about 200 companies have raised more than $7 billion in 2023,

more than double the amount raised last year.

Kotak Mahindra Capital, Citigroup Global Markets India,

and J.P. Morgan India are among the book-running lead managers

of Hexaware's IPO.

($1 = 83.9170 Indian rupees)