ITCONS E-Solutions IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Mar 02, 2023Let’s have a detailed review of the company and analytics of the ITCONS E-Solutions IPO release date, IPO offer price, subscription, ITCONS E-Solutions Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 51 |
| Listing At | BSE, SME |
| Min. Order Quantity | 2000 Shares |
| Listing Date | Mar 13, 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs 867 Lakh |
| IPO Size | Rs 867 Lakh |
| Tick Size | 1 |
ITCONS E-Solutions IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – ITCONS E-Solutions Share Price |
ITCONS E-Solutions IPO – Summary
Their Company, ITCONS E-Solutions Limited, is in the business of providing human resource services to both public and private organizations mostly in organized sector in diverse roles and responsibilities since 2007, having its Registered office situated at New Delhi and Corporate Office at Noida.
Their services primarily include 1) Manpower Supply/Recruitment Services; and 2) Manpower Sourcing/Staffing Services.
The Promoter of this company is Mr. GAURAV MITTAL AND Mrs. SWATI JAIN. The lead manager to the issue is FINSHORE MANAGEMENT SERVICES LIMITED, and the Registrar to this issue is CAMEO CORPORATE SERVICES LIMITED.
ITCONS E-Solutions IPO Date
The opening and closing dates of ITCONS E-Solutions IPO are Feb 28, 2023 and Mar 2, 2023 respectively.
ITCONS E-Solutions IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 28th Mar | 0.86x | 1.17x | 1.01x |
| 2nd Day – 1st Mar | 1.09x | 3.27x | 2.18x |
| 3rd Day – 2nd Mar | 16.12x | 17.45x | 16.79x |
| Shares Offered or Net Issue | 806,000 | 806,000 | 1,614,000 |
The shares subscribed by the public will be updated here.
ITCONS E-Solutions IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
ITCONS E-Solutions Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Mar 8, 2023 |
| Refunds Initiation | Mar 9, 2023 |
| Credit of Shares to Demat Account | Mar 10, 2023 |
| Share Listing Date | Mar 13, 2023 |
ITCONS E-Solutions IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.51
ITCONS E-Solutions IPO Equity Size
This Initial Public Issue of 1,700,000 Equity Shares of Rs.10 each for cash at a price of Rs.51 per equity share aggregating to Rs.867 Lakh.
ITCONS E-Solutions IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 1,700,000 Equity Shares of Rs.10/ each.
Issue Size: 1,700,000 Equity Shares of Rs.10 each, aggregating to Rs.867 Lakh
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ITCONS E-Solutions IPO – Live Performance
The listing date of this IPO is Mar 13, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – ITCONS E-Solutions Share Price |
ITCONS E-Solutions IPO Grey Market Premium
The ITCONS E-Solutions Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
ITCONS E-Solutions IPO – Company Overview
Incorporated in 2007, they have grown to 800+ staff team (including contractual employees).
They have well-known and reputed clients from the Information Technology, Staffing & Recruitment, Food, FMCG space amongst others, which include MNCs as their clients.
Presently their Manpower Supply Services account for a majority of their revenues, and Manpower Souring Services contributes to rest of their revenues. Both the business lines broadly fall within the scope of staffing services and accordingly, audited segment-wise breakup is not required.
ITCONS E-Solutions IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | ||||
| 30-Sep-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Total Assets | 792.37 | 470.71 | 341.21 | 351.17 |
| *Total Revenue | 1,605.05 | 1,820.36 | 842.48 | 834.95 |
| Total Expense | 1,443.43 | 1,640.47 | 819.27 | 796.33 |
| Profit After Tax | 106.12 | 119.11 | 7.53 | 10.57 |
Earnings per Equity Share (in Lakh)
| 30-Sep-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 3.35 | 4.16 | 0.26 | 0.37 |
Further, their PAT for the period ended on Sep 30, 2022, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 106.12 Lakh, Rs. 119.11 Lakh, Rs. 7.53 Lakh and Rs. 10.57 Lakh respectively.
ITCONS E-Solutions IPO – Promoters
The Promoter of this company is:
- Mr. GAURAV MITTAL AND
- Mrs. SWATI JAIN
List of Related Parties (Key Managerial Personnel)
- Gaurav Mittal, Managing Director
- Chetan Prakash Mittal, Executive Director & CFO
- Prem Lata Mittal, Executive Director
- Archana Gangal, Non-Executive Director
- Ayush Jindal, Non-Executive Director
ITCONS E-Solutions IPO – Promoters Holding
- Pre-Issue Share Holding – 89.67%
- Post Issue Share Holding – 59.36%
ITCONS E-Solutions IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 1,700,000 Equity Shares aggregating up to Rs.867 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 86,000 Equity Shares aggregating up to Rs.43.86 Lakh |
| Net Issue to the Public | Up to 16,14,000 Equity Shares aggregating up to Rs.823.14 Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 8,08,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 8,06,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 33,28,726 Equity Shares |
| Equity Shares outstanding after the Issue | 50,28,726 Equity Shares |
ITCONS E-Solutions IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. To meet the working capital requirements
2. To meet the Issue Expenses
3. General Corporate Purposes
ITCONS E-Solutions IPO – Business Strategy
- Enhanced & customized innovative service offerings
- Maintaining their strategic focus on Indian market
- Continuous innovation
- Investment on new business opportunities & engagement model
ITCONS E-Solutions IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Established and proven track record;
- Leveraging the experience of their Promoters;
- Experienced management team and a motivated and efficient work force;
- Cordial relations with their customers
- Quality Assurance & Control
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 4.16 | 53.31 | 7.80 |
| 31-Mar-21 | 0.26 | 7.22 | – |
| Mar-20 | 0.37 | 10.93 | – |
ITCONS E-Solutions IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Crores) | |
| ITCONS E-Solutions Limited | 10 | 12.26 | 4.16 | 53.31 | 1,820.36 |
| Listed Peers | |||||
| Integrated Personnel Services Limited | 10 | 7.43 | 7.94 | 23.34 | – |
| ANI Integrated Services Limited | 10 | 8.85 | 5.64 | 12.28 | – |
ITCONS E-Solutions IPO Lead Managers
| Lead Managers |
| FINSHORE MANAGEMENT SERVICES LIMITED Anandlok Building, Block-A, 2nd Floor, Room No. 207, 227 A.J.C Bose Road, Kolkata-700020, West Bengal, India Telephone: 033 – 2289 5101 / 4603 2561 Email: info@finshoregroup.com Contact Person: Mr. S. Ramakrishna Iyengar Website: www.finshoregroup.com Investor Grievance Email: investors@finshoregroup.com SEBI Registration No: INM000012185 CIN No: U74900WB2011PLC169377 |
ITCONS E-Solutions IPO Registrar to offer
| Registrar to the Offer |
| CAMEO CORPORATE SERVICES LIMITED “Subramanian Building”, #1, Club House Road, Chennai – 600 002, India Telephone: +91-44-40020700, 28460390 Email: cameo@cameoindia.com Contact Person: Ms. K. Sreepriya Website: www.cameoindia.com Investor Grievance Email: investor@cameoindia.com SEBI Registration Number: INR000003753 CIN No: U67120TN1998PLC041613 |
ITCONS E-Solutions IPO – Other Details
- Statutory Auditor – M/s. Sumit Gupta & Co., Chartered Accountant
- Legal Counsel to the Company – J. MUKHERJEE & ASSOCIATES
- Bankers to the Company – ICICI Bank Limited
ITCONS E-Solutions IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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ITCONS E-Solutions Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
ITCONS E-Solutions IPO Review FAQs
Check out various FAQs related to ITCONS E-Solutions IPO:
What is the Issue Size of ITCONS E-Solutions IPO?
The Company is making an initial public offer of 1,700,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of ITCONS E-Solutions IPO?
The price band for this particular IPO ranges between Rs 51. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the ITCONS E-Solutions IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Feb 28, 2023, while the closing date is set at Mar 2, 2023.
What is the ITCONS E-Solutions IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on Mar 8, 2023, refund initiation is on Mar 9, 2023, credit of shares is on Mar 10, 2023, and share listing date is on Mar 13, 2023.
What is the ITCONS E-Solutions IPO Listing Date?
Shares of this company shall be listed in the exchanges Mar 13, 2023. The date, when the listing would be done, is stagnant on Mar 13, 2023.
Who is the Registrar of ITCONS E-Solutions IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Cameo Corporate Services Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of ITCONS E-Solutions IPO?
Here are the promoters of this IPO – Mr. GAURAV MITTAL AND Mrs. SWATI JAIN. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of ITCONS E-Solutions IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is ITCONS E-Solutions IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of ITCONS E-Solutions Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Lakh is 119.11, 2021 is 7.53, and 2020 is 10.57. PAT from Sep 2022 is 106.12.
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