•The Public Offering of Equity Shares aggregating up to Rs. 230,000 Thousand.
•The minimum Bid lot is 200 equity shares and in multiples of 200 equity shares thereafter.
•Issue opening date – January 23, 2019 and Issue closing date – January 25, 2019.
•A discount equivalent to Rs. 3 on the Issue Price shall be offered by the Company to Retail Individual Bidders.
•The Equity Shares of Xelpmoc Design and Tech Limited are proposed to be listed on the NSE and BSE.
MUMBAI, January 21, 2019 (GPN) : Xelpmoc Design and Tech Limited (“Company”), a professional and technical consulting services, offering technology services and end-to-end technology solutions and support provider will be launching its initial public offering (“IPO” or the “Issue”) which is scheduled to open on January 23, 2019 and close on January 25, 2019, with a price band of Rs. 62 – Rs. 66 per Equity Share of face value of Rs. 10 each of the Company (the “Equity Shares”). The Anchor Investor Bid/Issue Period shall be January 22, 2019, being one working day prior to the Issue opening date.
Initial Public Offering of [●] Equity Shares of face value ₹ 10 each (“Equity Shares”) of the Company for cash at a price of ₹ [●] per equity share (including a share premium of ₹ [●] per equity share) (“Issue Price”), aggregating up to ₹ 230,000 thousand (“Issue”). A discount equivalent to Rs. 3 on the Issue Price shall be offered by our Company in consultation with the BRLM to Retail Individual Bidders.
The Company proposes to utilize the net proceeds of the Issue for the purchase of IT hardware and network equipment’s for development centers in Kolkata and Hyderabad; Purchase of fit outs for new development centers in Kolkata and Hyderabad; Funding the working capital requirements of our Company; and general corporate purposes.
The Issue is being made in terms of Rule 19(2)(b) of the Securities Contracts Regulation Rules, 1957, as amended (“SCRR”), read with Regulation 41 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (“SEBI ICDR Regulations”). The Issue is being made in accordance with Regulation 26(2) of the SEBI ICDR Regulations, through the Book Building Process wherein at least 75% of the Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that our Company may, in consultation with the BRLM (as defined below), allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”).
One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Issue Price.
If at least 75% of the Issue cannot be Allotted to QIBs, all the application monies will be refunded/ unblocked forthwith. Further, not more than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Issue Price.
All potential Bidders, other than Anchor Investors, are mandatorily required to participate in the Issue through an Application Supported by Blocked Amount (“ASBA”) process including through UPI mode (as applicable) by providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”). Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA Process. For details, see “Issue Procedure” on page 390.(The Red Herring Prospectus will be available on the website of the SEBI at www.sebi.gov.in, on the websites of the BSE and NSE at www.bseindia.com and www.nseindia.com as well as on the website of the BRLM at www.iticapital.in, respectively. )
ITI Capital Limited is the Book Running Lead Manager (“BRLM”) to the Issue. The Registrar to the Issue is Karvy Fintech Private Limited.
About of Xelpmoc Design and Tech Limited:
Xelpmoc Design and Tech Limited is a provider of professional and technical consulting services, offering technology services and end-to-end technology solutions and support. The Company’s 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.
The Company grows its portfolio of services and products as the needs of its clients evolve. The Company commenced operations in Bengaluru, India, in 2015 and has since serviced enterprises across four states in India. The Company’s business operations may broadly be categorized as technology services, and technology solutions/ products. The Company also occasionally provides business support to some of its clients to enable them to set-up their operations.
The Company believes that it is among the few technology service providers with accessibility to domain experts. It benefits from the expertise and experience of its Promoters and senior management in a range of sectors including financial services, retail, media and entertainment, and business services. It also carries out its operations through its joint venture and associate.
The Company is promoted by Sandipan Chattopadhyay, who has around two decades of experience in the information technology industry, Srinivas Koora, who has over 16 years of experience in the field of accounts and finance and is primarily responsible for devising the strategy for the Company, and Jaison Jose who has been instrumental for the implementation of operational plans, operation strategies, budgets and forecasts at the corporate, regional and business unit level. ENDS