Xelpmoc Design shares tank nearly 11 pc in debut trade

Shares of Xelpmoc Design and Tech Monday plunged nearly 11 per cent in its debut trade on the bourses against its issue price of Rs 66.

The shares earlier in the day opened at Rs 56, a sharp fall of 15.15 per cent from the issue price on the BSE. Later, it settled at Rs 58.80, plunging 10.90 per cent.

At the National Stock Exchange, shares tumbled 9.31 per cent to close at Rs 59.85 apiece.

Xelpmoc's initial public offering (IPO) was subscribed over 3 times, with the qualified institutional buyer portion getting subscribed 1.24 times, non-institutional 7.79 times and retail 2.64 times.

The IPO was in the price range of Rs 62-66 per share.

The issue ran from January 23 to 25.

Xelpmoc Design and Tech Ltd is a provider of professional and technical consulting services, offering technology services and end-to-end technology solutions and support.