ITCONS E-Solutions IPO GMP, Price, Dates & Allotment Details 2023
The IPO date for ITCONS E-Solutions has not yet been announced. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 8.67 crore through this public offering, consisting of 1,700,000 shares of face value of ₹ 10 each. Which will be issued at a price of ₹ 51 per share.
Incorporated in 2007. ITCONS E-Solutions Limited has been in the business of providing human resource services to both public and private organizations, mostly in the organized sector, in diverse roles and responsibilities since its incorporation. The company has grown to 800+ staff (including contractual employees). They have well-known and reputed clients from the information technology, staffing & recruitment, food, and FMCG spaces, amongst others, which include MNCs as clients.
Company services primarily include
- Manpower Supply and Recruitment Services; and
- Manpower sourcing and staffing services
Currently, Manpower Supply Services accounts for the majority of its revenues, and Manpower Sourcing Services contributes to the rest of its revenues.
Objects of the Issue
The company proposes to utilize the net proceeds of the Fresh Issue towards funding the following objects:
- To meet working capital requirements.
- To meet the Issue Expenses.
- General corporate purposes.
Financial Highlights (Standalone)
| Particulars | Period ended on 30th June 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 462.23 | 223.42 | 104.31 | 96.78 |
| Total Assets | 792.37 | 470.71 | 341.21 | 351.17 |
| Total Borrowing | 176.70 | 106.23 | 136.33 | 145.36 |
| Total Revenue | 1605.05 | 1820.36 | 842.48 | 834.95 |
| Profit After Tax | 106.12 | 119.11 | 7.53 | 10.57 |
ITCONS E-Solutions IPO – Details
According to the DRHP filed with SEBI, the company plans to issue 1,700,000 shares of face value of ₹ 10 each, aggregating up to ₹ 8.67 crore.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 51 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 2,000 shares |
| Issue Size | 1,700,000 shares of ₹ 10 (Aggregating up to ₹ 8.67 Crore) |
| Fresh Issue | 1,700,000 shares of ₹ 10 (Aggregating up to ₹ 8.67 Crore) |
| Listing At | BSE SME |
| Company Promoters | 1. Mr. Gaurav Mittal 2. Mrs. Swati Jain |
GMP – ITCONS E-Solutions IPO
ITCONS E-Solutions IPO GMP, or Grey Market Premium, are available here. The IPO GMP Premium updated day by day for IPOs’ running periods, and the GMP rates fluctuated and became stable some time later. The GMP rates are not 100% guaranteed. Please click here for GMP details.
Lot Size – ITCONS E-Solutions IPO
The lot size of the ITCONS E-Solutions IPO is 2,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 2,000 shares of ₹ 102,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 2,000 | ₹ 102,000 |
| Retail (Maximum) | 1 | 2,000 | ₹ 102,000 |
| HNI (Minimum) | 2 | 4,000 | ₹ 204,000 |
Tentative Timetable
| Opening Date | February 28, 2023 |
| Closing Date | March 2, 2023 |
| Basis of Allotment | March 8, 2023 |
| Initiation of Refunds | March 9, 2023 |
| Credit of shares to Demat A/c | March 10, 2023 |
| Listing Date | March 13, 2023 |
Promoters Holdings – ITCONS E-Solutions IPO
| Pre-issue Shares Holdings | 89.67% |
| Post-issue Shares Holdings | – |
SWOT Analysis – ITCONS E-Solutions IPO
| STRENGTHS | WEAKNESSES |
|---|---|
| 1. Wide range of services offered. 2. Availability of an adaptable and experienced workforce drawn from a wide variety of backgrounds. 3. Strong financial performance. 4. Strong Management Team and Human Capital. | 1. Facility Management is seen by the clients as an overhead cost – It being an add-on service to the clients, many organizations consider this as an overhead operational cost leading to lower acceptability by certain clients. 2. Company business is dependent on developing and maintaining continuing relationships with its clients and customers. 3. Outstanding certain legal proceedings with directors and promoters. |
| OPPORTUNITIES | THREATS |
| 1. Growing outsourcing and job demand. 2. Expansion of geographic presence. | 1. Competitions from established players. 2. Inability to hire suitable employees. 3. Extensive government regulations. |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| 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/ |
| IPO Registrar | Cameo Corporate Services Limited Phone: +91-44-28460390 Email: investor@cameoindia.com Website: https://ipo.cameoindia.com/ |
| IPO Lead Manager(s) | Finshore Management Services Limited |
FAQ’s
What will be the ITCONS E-Solutions IPO lot size?
One lot of ITCONS E-Solutions IPO contains 2,000 shares of ₹ 102,000.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors.
