Xelpmoc Design and Tech sees poor debut

Shares of Xelpmoc Design and Tech settled at Rs 58.80 on BSE, a discount of 10.9% over the initial public offer price of Rs 66.

Shares of Xelpmoc Design and Tech settled at Rs 58.80 on BSE, a discount of 10.9% over the initial public offer price of Rs 66. The stock debuted at Rs 56, a discount of 15.15% to the initial public offer (IPO) price. The stock hit a high of Rs 58.80 and low of Rs 56. On BSE, 1,405 shares were traded on the counter.

The IPO of Xelpmoc Design and Tech received bids for 66.40 lakh shares, as against 20.40 lakh shares on offer, National Stock Exchange of India (NSE) data showed. The issue was subscribed 3.25 times.

The issue opened for subscription on 23 January 2019 and closed on 25 January 2019. The price band for the issue was fixed at Rs 62 to Rs 66 per share.

The qualified institutional buyers (QIBs) category was subscribed 1.24 times. The non institutional investors category was subscribed 7.69 times. The retail individual investors (RIIs) category was subscribed 2.64 times.

Xelpmoc Design and Tech provides professional and technical consulting services, offering technology services and end-to-end technology solutions and support. Its clients range from entrepreneurs and start-up enterprises to established companies, engaged in e-commerce, transportation and logistics, recruitment, financial services, social networking, and various other industries. The company provides a wide range of services, including, mobile and web application development, prototype development, thematic product development and data science and analytics assistance.

Powered by Capital Market - Live News