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:
- IT Staffing
- General Staffing
- Re-badging
- Recruitment Process Outsourcing
- Pass through Services
- Payroll Services
- Managed IT Services
- Product Installation & Servicing Solutions
- 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 Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 351.17 | 834.95 | 10.57 | 96.78 | 95.64 | 145.06 |
| 31-Mar-21 | 341.21 | 842.48 | 7.53 | 104.31 | 103.17 | 136.33 |
| 31-Mar-22 | 470.71 | 1,820.36 | 119.11 | 223.42 | 222.28 | 106.23 |
| 30-Sep-22 | 792.37 | 1,605.05 | 106.12 | 462.23 | 129.36 | 176.70 |
| Amount in ₹ Lakhs |
Objects of the Issue
The Objects of the Issue are:
- To meet the working capital requirements
- To meet the Issue Expenses
- General Corporate Purposes
ITCONS E-Solutions IPO Details
| IPO Date | Feb 28, 2023 to Mar 2, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹51 per share |
| Lot Size | 2000 Shares |
| Issue Size | 1,700,000 shares of ₹10 (aggregating up to ₹8.67 Cr) |
| Fresh Issue | 1,700,000 shares of ₹10 (aggregating up to ₹8.67 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| NII (HNI) Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
| Market Maker | NIKUNJ STOCK BROKERS LIMITED |
| Company Promoters | Mr. Gaurav Mittal and Mrs. Swati Jain are the Promoters of the company. |
ITCONS E-Solutions IPO Tentative Timetable
ITCONS E-Solutions IPO opens on Feb 28, 2023, and closes on Mar 2, 2023. The ITCONS E-Solutions IPO bid date is from Feb 28, 2023 10.00 A.M. to Mar 2, 2023 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Feb 28, 2023 |
| Closing Date | Mar 2, 2023 |
| Basis of Allotment | Mar 8, 2023 |
| Initiation of Refunds | Mar 9, 2023 |
| Credit of Shares to Demat | Mar 10, 2023 |
| Listing Date | Mar 13, 2023 |
ITCONS E-Solutions IPO Lot Size
The ITCONS E-Solutions IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹102,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹102,000 |
| Retail (Max) | 1 | 2000 | ₹102,000 |
| HNI (Min) | 2 | 4,000 | ₹204,000 |
ITCONS E-Solutions IPO Promoter Holding
| Pre Issue Share Holding | 89.67% |
| Post Issue Share Holding | 59.36% |
ITCONS E-Solutions IPO Review
IEL is in the business of specialized staffing services and has a marquee clients list. After suffering a minor setback due to the pandemic in 2021, it is now in a fast-forward mode as indicated by its last 18 months’ financial performance. The issue appears reasonably priced. Investors may park funds for medium to long-term rewards. Read detail review…
ITCONS E-Solutions IPO Prospectus
Company Contact Information
ITCONS E-Solutions Limited
Regus Elegance 2F, Elegance Jasola District Centre
Old Mathura Road, New Delhi,
South Delhi – 110025
Phone: +91 120 4149563
Email: cs.pooja@itconsinc.com
Website: http://www.itconsinc.com/
ITCONS E-Solutions IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/