ITCONS E-Solutions IPO will open for subscription from 28 February 2023. the company aims for an issue size of ₹8.67 Cr through this IPO.
About Company
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:
- IT Staffing
- General Staffing
- Re-badging
- Recruitment Process Outsourcing
- Pass through Services
- Payroll Services
- Managed IT Services
- Product Installation & Servicing Solutions
- Permanent Hiring
The revenue of ITCONS E-Solutions Limited has 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.
Basic details about the company
| Full name | ITCONS E-Solutions Limited |
| Sector | Miscellaneous |
| Industry | Miscellaneous |
| Company Website | https://www.itconsinc.com/ |
The objective of the Issue
- To meet the working capital requirements
- To meet the Issue Expenses
- General Corporate Purposes
IPO Timetable
| IPO Opening date | 28 February 2023 |
| IPO Closing | 02 March 2023 |
| Basis of Allotment | 08 March 2023 |
| Initiation Refund | 09 March 2023 |
| Credit to Demat Account | 10 March 2023 |
| Listing Date | 13 March 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹8.67 Cr – 1,700,000 shares |
| Fresh Issue | ₹8.67 Cr – 1,700,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer price | ₹51 per share |
| Lot size | 2000 Shares |
| Market Maker portion | 86,000 shares |
| Retail Allocation | 50% of the Net Issue |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹102,000 |
| Retail (Max) | 1 | 2000 | ₹102,000 |
| HNI (Min) | 2 | 4,000 | ₹204,000 |
Reservation Details
| NII (HNI) Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | H1 FY 2023 | |
| Revenue | 834.1 | 832.2 | 1,805.3 | 1,605.1 |
| Expenses | 796.3 | 819.3 | 1,640.5 | 1,443.4 |
| Net income | 10.6 | 7.5 | 119.1 | 106.1 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 0.37 | 0.26 | 4.16 |
| PE ratio | – | – | 12.26 |
| RONW (%) | 10.93 | 7.22 | 53.31 |
| NAV | – | – | 7.80 |
| ROCE (%) | 0.22 | 0.15 | 0.58 |
| EBITDA (%) | 4.62 | 2.73 | 9.87 |
| Debt/Equity | 1.50 | 1.31 | 0.48 |
Company Promoters
- Mr. Gaurav Mittal
- Mrs. Swati Jain
Promoter Holding
| Pre Issue Share Holding | 89.67% |
| Post Issue Share Holding | 59.36% |
Lead Manager(s)
- Finshore Management Services Limited
IPO Registrar
CAMEO CORPORATE SERVICES LIMITED
“Subramanian Building”,
#1, Club House Road,
Chennai – 600 002, Tamil Nadu
Telephone: 044-28460390
Email: investor@cameoindia.com
Website: www.cameoindia.com
Contact Details
ITCONS E-SOLUTIONS LIMITED
3rd Floor, B-10, Bajaj Bhawan,
Sector-3, Jamna Lal Bajaj Marg,
Noida – 201301, Uttar Pradesh, India
Phone: +91 120 4149563
E-mail: cs.pooja@itconsinc.com
Website: www.itconsinc.com
Allotment Status
ITCONS E-Solutions IPO allotment status will be available on Cameo Corporate Services’ website. Click on this link to get allotment status.
Final thoughts
ITCONS E-Solutions IPO is going to hit Dalal street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
