Hello Everyone!,

I resolved this issue myself.

Whenever the server tried to make contact with exchange it was expecting the remote server to have host name instead of IP, something just barged into my head and i created a Host A record on my server and checked whenever I ping the dns of outlook takes me to the server and it worked!, all i had to do is PUT the exchange 365 smtp dns name and redirect it to the static ip and done, i received the test mail. Thanks.