By Sachin Murdeshwar

Mumbai : 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.

ITI Capital Limited is the Book Running Lead Manager (“BRLM”) to the Issue. The Registrar to the Issue is Karvy Fintech Private Limited.

The Equity Shares of Xelpmoc Design and Tech Limited are proposed to be listed on the NSE and BSE.