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ITCONS E-Solutions IPO GMP, Price, Dates & Allotment Details 2023

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:

  1. To meet working capital requirements.
  2. To meet the Issue Expenses.
  3. General corporate purposes.

Financial Highlights (Standalone)

ParticularsPeriod ended on 30th June 2022FY 2021-22FY 2020-21FY 2019-20
Net Worth462.23223.42104.3196.78
Total Assets792.37470.71341.21351.17
Total Borrowing176.70106.23136.33145.36
Total Revenue1605.051820.36842.48834.95
Profit After Tax106.12119.117.5310.57
(Amount in ₹ Lakhs)

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 TypeFixed Price Issue IPO
IPO Price₹ 51 per share
Face Value₹ 10 per share
Market Lot2,000 shares
Issue Size1,700,000 shares of ₹ 10  (Aggregating up to ₹ 8.67 Crore)
Fresh Issue1,700,000 shares of ₹ 10  (Aggregating up to ₹ 8.67 Crore)
Listing AtBSE SME
Company Promoters1. 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)12,000₹ 102,000
Retail (Maximum)12,000₹ 102,000
HNI (Minimum)24,000₹ 204,000

Tentative Timetable

Opening DateFebruary 28, 2023
Closing DateMarch 2, 2023
Basis of AllotmentMarch 8, 2023
Initiation of RefundsMarch 9, 2023
Credit of shares to Demat A/cMarch 10, 2023
Listing DateMarch 13, 2023

Promoters Holdings – ITCONS E-Solutions IPO

Pre-issue Shares Holdings89.67%
Post-issue Shares Holdings

SWOT Analysis – ITCONS E-Solutions IPO

STRENGTHSWEAKNESSES
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.
OPPORTUNITIESTHREATS
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 InformationITCONS E-Solutions Limited
Regus Elegance 2F, Elegance Jasola District Centre Old Mathura Road,
New Delhi, South Delhi – 110025
Phone: +91 120 4149563
Email: [email protected]
Website: http://www.itconsinc.com/
IPO RegistrarCameo Corporate Services Limited
Phone: +91-44-28460390
Email: [email protected]
Website: https://ipo.cameoindia.com/
IPO Lead Manager(s)Finshore Management Services Limited

FAQ’s

One lot of ITCONS E-Solutions IPO contains 2,000 shares of ₹ 102,000.

The minimum investment size is one lot for retail investors.

Click here for more FAQs.

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