FREE Account Opening + No Clearing Fees

ITCONS E-Solutions Limited IPO (ITCONS E-Solutions IPO) Detail

February 28, 2023 - March 2, 2023

ITCONS E-Solutions IPO is a fixed price issue of Rs 8.67 crores. The issue is entirely a fresh issue of 17 lakh shares.

ITCONS E-Solutions IPO bidding started from February 28, 2023 and ended on March 2, 2023. The allotment for ITCONS E-Solutions IPO was finalized on Wednesday, March 8, 2023. The shares got listed on BSE SME on March 13, 2023.

ITCONS E-Solutions IPO price is ₹51 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹102,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹204,000.

Finshore Management Services Limited is the book running lead manager of the ITCONS E-Solutions IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for ITCONS E-Solutions IPO is Nikunj Stock Brokers.

Refer to ITCONS E-Solutions IPO RHP for detailed information.

ITCONS E-Solutions IPO Details

IPO Date February 28, 2023 to March 2, 2023
Listing Date March 13, 2023
Face Value ₹10 per share
Price ₹51 per share
Lot Size 2000 Shares
Total Issue Size1,700,000 shares
(aggregating up to ₹8.67 Cr)
Fresh Issue1,700,000 shares
(aggregating up to ₹8.67 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Market Maker portion86,000 shares
Nikunj Stock Brokers

ITCONS E-Solutions IPO Reservation

ITCONS E-Solutions IPO offers 1,700,000 shares. 806,000 (47.41%) to NII, 808,000 (47.53%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered86,000 (5.06%)
Other Shares Offered806,000 (47.41%)
Retail Shares Offered808,000 (47.53%)
Total Shares Offered1,700,000 (100%)

ITCONS E-Solutions IPO Timeline (Tentative Schedule)

ITCONS E-Solutions IPO opens on February 28, 2023, and closes on March 2, 2023.

IPO Open Date Tuesday, February 28, 2023
IPO Close Date Thursday, March 2, 2023
Basis of Allotment Wednesday, March 8, 2023
Initiation of Refunds Thursday, March 9, 2023
Credit of Shares to Demat Friday, March 10, 2023
Listing Date Monday, March 13, 2023
Cut-off time for UPI mandate confirmation 5 PM on March 2, 2023

ITCONS E-Solutions IPO Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 2000 ₹102,000
Retail (Max) 1 2000 ₹102,000
HNI (Min) 2 4,000 ₹204,000
Lot Size Calculator

ITCONS E-Solutions IPO Promoter Holding

Mr. Gaurav Mittal and Mrs. Swati Jain are the Promoters of the company.

Share Holding Pre Issue 89.67%
Share Holding Post Issue 59.36%

About ITCONS E-Solutions Limited

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 Financials

ITCONS E-Solutions Limited Financial Information (Restated Standalone)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of ITCONS E-Solutions IPO is Rs 25.65 Cr.

Pre IPO Post IPO
P/E (x) 12.09

Objects of the Issue (ITCONS E-Solutions IPO Objectives)

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 IPO Review (Apply)

[Dilip Davda]  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 Subscription Status (Bidding Detail)

The ITCONS E-Solutions IPO is subscribed 16.79 times on March 2, 2023 6:58:00 PM. The public issue subscribed 17.45 times in the retail category, times in the QIB category, and 16.12 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

ITCONS E-Solutions IPO Prospectus

ITCONS E-Solutions IPO Rating

Rating:Rated 4.0 stars
Vote Here ...

ITCONS E-Solutions IPO Listing Details

Listing Date March 13, 2023
BSE Script Code 543806
NSE Symbol
Final Issue Price ₹51 per share

Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

ITCONS E-Solutions Limited Contact Details

ITCONS E-Solutions Limited
Regus Elegance 2F, Elegance Jasola District Centre
Old Mathura Road, New Delhi,
South Delhi – 110025
Phone: +91 120 4149563

ITCONS E-Solutions IPO Registrar

Cameo Corporate Services Limited

Phone: +91-44-28460390

ITCONS E-Solutions IPO - Buy or Not

ITCONS E-Solutions IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 3 0 0

Read All Reviews Post Your Review Manage Reviews

SME IPO Enquiry

SME Company Owners
We could help you get listed on the stock market.

Contact us Today

Check our SME IPO Guide New


ITCONS E-Solutions IPO is a SME IPO of 1,700,000 equity shares of the face value of ₹10 aggregating up to ₹8.67 Crores. The issue is priced at ₹51 per share. The minimum order quantity is 2000 Shares.

The IPO opens on February 28, 2023, and closes on March 2, 2023.

Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Zerodha customers can apply online in ITCONS E-Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in ITCONS E-Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in ITCONS E-Solutions IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'ITCONS E-Solutions IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The ITCONS E-Solutions IPO opens on February 28, 2023 and closes on March 2, 2023.

ITCONS E-Solutions IPO lot size is 2000 Shares, and the minimum amount required is ₹102,000.

You can apply in ITCONS E-Solutions IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for ITCONS E-Solutions IPO will be done on Wednesday, March 8, 2023, and the allotted shares will be credited to your demat account by Friday, March 10, 2023. Check the ITCONS E-Solutions IPO allotment status.

The ITCONS E-Solutions IPO listing date is on March 13, 2023.
Open an Instant Account with Zerodha

ITCONS E-Solutions IPO Message Board

Ranked Members of Forum  Ranked Members | Members with Most Likes



165. LOVE IPO |   Link |  Bookmark |April 15, 2023 10:18:04 PM
There accumulation happening below 50 levels by operators/ HNI investors. Equity base is only 8.,67 Cr. hence can easily be manipulated. The company has strong business model, Old organization, reasonable valuations & good client list. fundamentals will surely take over and prices will not be at current quoted levels for too long. Very good SME stock from short term ( 2 to 3 quarter perspective) & also for long term.
164. Safe Bet |   Link |  Bookmark |April 2, 2023 8:17:27 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Anyone has any idea why this sudden spurt inlast two sessions ??
Worth to hold for sometime??
163. poweripo |   Link |  Bookmark |March 30, 2023 1:11:18 PM
When i try to sell in icicidirect,it says its not tradable in bse,anyone facing this issue
163.1. SME INVESTOR |   Link |  Bookmark |March 31, 2023 12:35:39 PM (300+ Posts)
Contact yours DP (Broker)
162. Sanchit Jain |   Link |  Bookmark |March 29, 2023 10:36:19 PM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
20% UC both in IT Con n Resgen..But the journey is far ahead..
162.1. poweripo |   Link |  Bookmark |March 30, 2023 1:10:22 PM
When i try to sell in icicidirect,it says its not tradable in bse,anyone facing this issue
161. Rohitsme |   Link |  Bookmark |March 24, 2023 8:59:07 AM
Can anyone guide when will the circuit change from 5% to 10/20% on ITCONS?
161.1. Sanchit Jain |   Link |  Bookmark |March 24, 2023 11:14:27 AM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
In my view, it should happen soon both for ITCON n Resgen and we should see big upward in both these stocks. So far as I understand, there is no stipulated number of days for this, the company has to approach the exchange to allow change in circuit levels.
161.2. Gaurav DD dimer |   Link |  Bookmark |March 24, 2023 11:41:29 AM
IPO Mentor IPO Mentor (1200+ Posts, 400+ Likes)
On Monday.
160. REAL IPO |   Link |  Bookmark |March 20, 2023 3:04:23 PM
Maine ITCONS or RESGEN dono me apply kiya tha but RESGEN me hi Allotment mila ITCONS me nahi mila , thank god RESGEN me rs.49 me just after listing sell kar k nikal gya, so save CAPITAL with nominally gain, aab ye bada bada loss dekh lag raha hai accha kiya nikal gaya.
159. M.Patel Gujju |   Link |  Bookmark |March 20, 2023 11:58:21 AM
Don't sell any level of price....It is very good company & very positive news for this company... Dilip Davda sir also suggested apply (not may apply)for this company...
It is reaching higher than issue price soon.
158. Sanchit Jain |   Link |  Bookmark |March 17, 2023 9:07:47 PM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
2 back to back flop shows by Finshore. 1st Indong n now this, no buying support watsoever.
157. SJogi |   Link |  Bookmark |March 17, 2023 9:39:54 AM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
Again LC today buy selling volume is less today.
It is a decent company , still it is being punished just because of the current market sentiments.
156. KAPPO |   Link |  Bookmark |March 16, 2023 9:28:05 PM
IPO Guru IPO Guru (1100+ Posts, 800+ Likes)

156.1. SJogi |   Link |  Bookmark |March 16, 2023 11:34:11 PM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
Market situation not good right now.
155. SJogi |   Link |  Bookmark |March 16, 2023 4:27:02 PM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
today also LC
154. Pratham |   Link |  Bookmark |March 16, 2023 12:28:55 PM
IPO Mentor IPO Mentor (600+ Posts, 500+ Likes)
Company posted new business update
Tracking this company

Disc: Currently not invested in Itcons.

154.1. Santosh IPO Investor |   Link |  Bookmark |March 16, 2023 12:32:00 PM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
Postive News but still ITCONs at LC
154.2. badluck |   Link |  Bookmark |March 20, 2023 10:40:09 AM (200+ Posts)
Very good news for this ipo. Soon you see at around 80
153. Sunmoney |   Link |  Bookmark |March 16, 2023 11:36:51 AM
Thanks for your support
My only doubt
Have u spoken to management again'
Are they positive.
If not, can u guide us after talking to them.
152. D for DEEPAK |   Link |  Bookmark |March 16, 2023 9:31:32 AM
There is no buyer from yesterday. What is the new strategy. Expers and senior member of the forum Plz advise.
151. SME INVESTOR |   Link |  Bookmark |March 15, 2023 12:35:50 PM (300+ Posts)
Don't sell urs holding in panic, if u can hold.

Still hopeful and bullish to be a good investment in long term (i will hold and decide after seeing the Marc 23 and Sep 23 qtr result).

Not got allotment in IPO, but purchased from open market yesterday only. No fresh buying recommended either, just take urs own judgment.
150. REAL IPO |   Link |  Bookmark |March 15, 2023 1:00:01 AM
Itcons k listing me sab investors ka PACHHKA ho gaya , or sab iss IPO me fusss gaye.
149. Rani |   Link |  Bookmark |March 14, 2023 11:52:11 AM
Luckily nothing got allotted 0/3
148. Rohan Bajaj |   Link |  Bookmark |March 14, 2023 9:50:34 AM (400+ Posts)
What to do today? Not reaching issue price
148.1. SJogi |   Link |  Bookmark |March 14, 2023 10:47:51 AM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
sold my allotted lot at 50rs today.
as it may come down .
148.2. lokes |   Link |  Bookmark |March 15, 2023 9:25:56 AM
IPO Guru IPO Guru (4400+ Posts, 5100+ Likes)
@rohan: don't wait for issue price in such cases after analysing trend and demand, and better to sell at whatever price we getting else loss will only increase...sometimes share may not move as per our expectation...
I have sold my 1 lot at 50 and 1 lot at 49.2
147. Abhii VPG |   Link |  Bookmark |March 14, 2023 12:11:38 AM
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
Consistent poor listings at BSE!
146. ratna ratna |   Link |  Bookmark |March 13, 2023 5:38:21 PM
@SSingh Ji 1 question regarding ITCONS ?

How come ITCONS hit UC(Upper Circuit) at inr 49.33 with 3.27% discount...

UC & DISCOUNT?? I didnot get this...
Why BSE exchange NOT set UC price at 55. atleast people like is sold at atleast 5 rupee profit...

Anyway since UC was hit...mostly it will bit UC again..what does expert day?

@lokes @SSingh ji @Noorul ---pls help with your thoughT
146.3. Nikhilbgupta |   Link |  Bookmark |March 13, 2023 9:47:11 PM
Yes 3party Gpay ke though....
146.4. SSingh |   Link |  Bookmark |March 13, 2023 10:32:03 PM
IPO Guru IPO Guru (1400+ Posts, 800+ Likes)
Mauka milte hee pehli fursat se niklo bhai. Kahan oot patang SMEs me 2-2 lot leke baithe ho…