Shares of IT major HCL Technologies witnessed strong buying interest on Tuesday after the company announced an investment of ₹1,427.25 crore (around $150 million) in Axonwise Private Limited, known as Sarvam AI, one of India’s leading artificial intelligence companies.
Following the announcement, HCLTech shares surged 3.42% to ₹1,157.5 on the BSE in early trade. Although the stock later gave up some gains, it remained in positive territory.
The broader market, represented by the BSE Sensex, was also positive, rising 222 points or 0.29% to 76,486.
HCLTech is investing $150 million in Sarvam AI to acquire a 10.46% equity stake. The funding round values Sarvam at a post-money valuation of $1.5 billion.
Alongside HCLTech, global private equity and venture capital firms such as Peak XV, Bessemer Venture Partners, and Khosla Ventures also participated in the funding round.
According to the company, the capital infusion will be used to advance Sarvam AI’s research and development efforts. The focus will be on building next-generation frontier AI models for applications in agentic AI systems, coding solutions, and cybersecurity use cases.
The funds will also help expand computing infrastructure across multiple industry sectors.
HCLTech said its global enterprise experience and client network will help Sarvam develop a full-stack sovereign AI ecosystem for India and international markets.
The collaboration is expected to strengthen India’s position in advanced artificial intelligence development.
Commenting on the investment, HCLTech CEO and MD C Vijayakumar said the partnership marks a major step toward building a trusted and globally competitive AI ecosystem in India.
He added that combining Sarvam’s AI research capabilities with HCLTech’s global reach will enable the creation of secure, scalable, and responsible AI solutions for enterprises and governments.
