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ITCONS E-Solutions Limited IPO Detail

ITCONS E-Solutions Limited IPO Detail
 

Incorporated in 2007, ITCONS E-Solutions Limited is a New Delhi-situated company engaged in the business of providing human resource services. The company offers its services mainly in the organized sector to both public and private organizations. The service of the entity are primarily in the domain:

  • Manpower Supply/Recruitment Services;
  • Manpower Sourcing/Staffing Services

Since its incorporation, ITCONS E-Solutions has grown to over 800 staff team including contractual employees. They offer their expert services in different segments like Staffing & Recruitment, Information Technology, FMCG, Food, etc.

ITCONS E-Solutions Limited has been developing its service offering so as to support its clients in their end-to-end HR needs through its services.

The range of services of the company has been divided under the following business heads:

  1. IT Staffing
  2. General Staffing
  3. Re-badging
  4. Recruitment Process Outsourcing
  5. Pass through Services
  6. Payroll Services
  7. Managed IT Services
  8. Product Installation & Servicing Solutions
  9. Permanent Hiring

The revenue of ITCONS E-Solutions Limited have too grown tremendously over the past years. For the years 2022, 2021, and 2020, the total revenue of the company was Rs. 1,820.36 lakhs, Rs. 842.48 lakhs, and Rs. 834.95 lakhs, respectively. Further, for the six months of 2022 ending 30th September, 2022, the company posted a total income of Rs. 1,605.05 lakhs.

Company Promoters

Mr. Gaurav Mittal and Mrs. Swati Jain

IPO Details

IPO Opening DateFeb 28, 2023
IPO Closing DateMar 02, 2023
Issue TypeFixed Price Issue IPO
Face Value₹10 per equity share
IPO Price ₹51 per equity share
Market Lot2000 Shares
Min Order Quantity2000 Shares
Listing AtBSE SME
Issue Size₹8.67 Cr
Fresh Issue1,700,000 shares of ₹10 (aggregating up to ₹8.67 Cr)
Offer for Sale-
Retail Portion 50%

IPO Subscription (Bidding Detail)

AS On QIB SHNI BHNI NII RII TOTAL
Day 1 - - 0.86x 1.17x 1.01x
Day 2 - - 1.08x 3.11x 2.09x
Day 3 - - 16.12x 17.45x 16.79x

IPO Tentative Timetable

The ITCONS E-Solutions Limited IPO open date is Feb 28, 2023, and the close date is Mar 02, 2023. The issue may list on Mar 13, 2023.

IPO Open DateFeb 28, 2023
IPO Close DateMar 02, 2023
Basis of Allotment DateMar 08, 2023
Initiation of RefundsMar 09, 2023
Credit of Shares to Demat AccountMar 10, 2023
IPO Listing DateMar 13, 2023

IPO Lot Size

The ITCONS E-Solutions Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹102000).

ApplicationLotsSharesAmount (Cut-off)
Minimum12000₹102000
Maximum12000₹102000

IPO Promoter Holding

Pre Issue Share Holding89.67%
Post Issue Share Holding

Company Financials:

For the year/period ended (₹ in Lakhs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-20 351.17 834.95 10.57
31-Mar-21 341.21 842.48 7.53
31-Mar-22 470.71 1820.36 119.11
30-Sep-22 792.37 1605.05 106.12

Objects of the Issue:

The Objects of the Issue are:

  1. To meet the working capital requirements
  2. To meet the Issue Expenses
  3. General Corporate Purposes

ITCONS E-Solutions Limited IPO Registrar:

Cameo Corporate Services Limited

ITCONS E-Solutions Limited IPO Lead Manager(s):

Finshore Management Services Limited

Company Contact Information:

ITCONS E-Solutions Limited

Regus Elegance 2F, Elegance Jasola District Centre

Old Mathura Road, New Delhi,

South Delhi – 110025