Xelpmoc receives subscription worth 1.26 times of BPO on day 2

• Overall subscription stands at 1.26 times

MUMBAI, January 24, 2019: Xelpmoc Design and Tech Limited ("Company"), a professional and technical consulting services company, has received an overall subscription of 1.26 times for its IPO, according to the stock exchange website at 5 PM today.

Mr. Pranav Mahajani, ITI Capital Ltd & Xelpmoc Management - Mr Vishal Chaddha, Whole time Director, Mr Jaison Jose, Whole Time Director, Mr. Tushar Trivedi, Chairman, Mr. Sandipan Chattopadhyay, MD & CEO and Mr Srinivas Koora, CFO, Xelpmoc Design and Tech Ltd at the IPO Press Conference held in Mumbai.

The Qualified Institutional Bidder (QIB) portion was subscribed 1.22 times and Non-Institutional Bidder (NIB) portion was subscribed by around 1.66 times. The retail investors had subscribed around 0.79 times of their allocation.

The Company, which opened its IPO on Wednesday, offers technology services and end-to-end technology solutions and support provider launched its IPO on January 23, 2019 with a price band of Rs 62 – Rs. 66 per Equity Share. The total size of the IPO aggregates to Rs 23 crore and closes on January 25, 2019. The Company has also offered a discount of Rs 3 on the issue price to retail investors.

Its anchor book, which closed on Tuesday, saw investments from anchor investors such as Washington University Chanakya Capital Partners and University of Notre Dame DU LAC to whom the Company has allotted 1,568,181 equity shares at an upper price band of Rs. 66 per share, aggregating to approximately Rs. 10.35 crore.

The Company proposes to utilize the net proceeds of the Issue forthe 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 shares of the Company will be listed on NSE and BSE. 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.

Disclaimer

XELPMOC DESIGN AND TECH LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a Red Herring Prospectus with the Registrar of Companies, Bengaluru, Karnataka. 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.

Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled 'Risk Factors' of the Red Herring Prospectus. Potential investors should not rely on the Draft Red Herring Prospectus filed with SEBI, for any investment decision.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws in the United States and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws in the United States.

Accordingly, the Equity Shares are only being offered and sold (i) to persons in the United States or to, or for the account or benefit of, U.S. Persons, in each case that are both "qualified institutional buyers" (as defined in Rule 144A under the Securities Act), and "qualified purchasers" (as defined under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act")) in transactions exempt from or not subject to the registration requirements of the Securities Act, and in reliance upon section 3(c)(7) of the Investment Company Act; or (ii) outside the United States to investors that are not U.S. Persons nor persons acquiring for the account or benefit of U.S. Persons in offshore transactions in reliance on Regulation S under the Securities Act and the applicable laws of the jurisdiction where those offers and sales occur.