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

Feb 28, 2023 - Mar 2, 2023

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.

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 IPO Details

IPO Date Feb 28, 2023 to Mar 2, 2023
Listing Date Mar 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

ITCONS E-Solutions IPO Reservation

NII (HNI) Shares Offered806,000 (50% of the Net Issue)
Retail Shares Offered808,000 (50% of the Net Issue)
Market Maker portion86,000 shares (NIKUNJ STOCK BROKERS LIMITED)
Total Shares Offered1,614,000


KPI Values
P/E (x)12.09
Market Cap (₹ Cr.)25.65

ITCONS E-Solutions IPO Tentative Timetable

ITCONS E-Solutions IPO opens on Feb 28, 2023, and closes on Mar 2, 2023.

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
UPI Mandate Confirmation Cut-Off Time 5.00 PM on the issue closing day

ITCONS E-Solutions IPO Lot Size

The ITCONS E-Solutions IPO lot size is 2000 shares.

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.

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

Company Financials

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

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 Mar 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)

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ITCONS E-Solutions IPO Prospectus

ITCONS E-Solutions IPO Rating

Rating:Rated 4.0 stars
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ITCONS E-Solutions IPO Listing Details

Listing Date Mar 13, 2023
BSE Script Code 543806
NSE Symbol
IPO Price ₹51 per share

Listing Day Trading Information

Price Details
IPO Price
Last Trade

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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/

ITCONS E-Solutions IPO Analysis

ITCONS E-Solutions IPO Recommendation Summary

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Members 3 0 0

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SME IPO Enquiry

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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 Feb 28, 2023, and closes on Mar 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 Feb 28, 2023 and closes on Mar 2, 2023.

ITCONS E-Solutions IPO lot size is 2000 Shares and the minimum order quantity is .

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 Mar 8, 2023, and the allotted shares will be credited to your demat account by Mar 10, 2023. Check the ITCONS E-Solutions IPO allotment status.

The ITCONS E-Solutions IPO listing date is on Mar 13, 2023.
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