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Xelpmoc Design makes tepid debut, lists at 15% discount to issue price

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NEW DELHI: Xelpmoc Design and Tech, a professional and technical consulting services company, made a tepid market debut, as the scrip got listed at Rs 56 on BSE, down 15.15 per cent over its issue price of Rs 66. On NSE, the scrip opened at Rs 57, down 13.64 per cent over the issue price. This is the first main-board IPO for the year. The public offer, which was opened for subscription from January 23 to January 25, was oversubscribed 3.25 times. The company had fixed a price band of Rs 62-Rs 66 per equity share. The total size of the IPO aggregated to Rs 23 crore.

The company had also offered a discount of Rs 3 on the issue price to retail investors. Xelpmoc Design proposed to utilise IPO proceeds for the purchase of IT hardware and network equipment for development centres in Kolkata and Hyderabad, funding the working capital requirements of the company and for general corporate purposes. ITI Capital was the book running lead manager to the issue.

The registrar to the issue was Karvy Fintech.




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