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ITCONS E-Solutions Limited IPO : Details

ITCONS E-Solutions Limited IPO is set to launch on 28 Feb, 2023. The company is based in New Delhi. It is engaged in the business of providing Human resource services. Its services are majorly in Manpower Supply, Recruitment services, Manpower sourcing, staff service. In total the company has a strength of 800 people working for it and some of them also work on contract basis.

The Human resource provided by the company has been subdivided into categories to make the working more efficient. The types are general staffing, IT Staffing, Re-badging, Pass through services, recruitment process outsourcing, Payroll services, product installation and Servicing solutions, Managed IT Services and permanent hiring.

ITCONS E-Solutions Limited IPO DETAILS

ITCONS E-Solutions Limited IPO is set to launch on 28 Feb., 2023. The subscription timeline extends till 3 March, 2023. The size for the IPO is 8.67 Crore Rs. Shares issued through fresh issue are worth 8.67 Crore Rs. No Shares are issued through offer for sale mode. The lot size is 2000 shares and the price is 51 Rs per share. The company is going to get listed at BSE SME. The face value per share is Rs.10 and this is a Fixed Price issue. The registrar for the company is Cameo Corporate Services Limited.

Tabular Description of ITCONS E-Solutions Limited IPO

IPO OPENING DATE	28 Feb., 2023
CLOSING DATE FOR IPO	3 March, 2023
ISSUE TYPE	Fixed Price Issue
Face Value per share	10 Rs. per share
IPO price band	51 Rs per share
LOT SIZE	2000 shares
MINIMUM ORDER QUANTITY	2000 shares
ISSUE SIZE	8.67 Crore Rs.
OFFER FOR SALE	No shares are issued through offer for sale mode.
FRESH ISSUE	8.67 Crore Rs.
LISTING AT	BSE SME
LISTING DATE	13 March, 2023

ITCONS E-Solutions Limited IPO : IMPORTANT DATES

IPO OPENING DATE	28 Feb., 2023
CLOSING DATE FOR IPO	2 March, 2023
IPO ALLOTMENT DATE	8 March, 2023
REFUNDS	9 March, 2023
DEMAT A/C CREDITED ON	10 March, 2023
IPO LISTING DATE	13 March, 2023

ITCONS E-Solutions Limited IPO begins for subscription from 28 Feb., 2023. The IPO subscription would continue till 2 March, 2023. The allotment status for the shareholders who applied would come on 8 March, 2023. The refunds for the ones who did not get allotment would be initiated on 9 March, 2023. The DEMAT accounts of shareholders would be credited on 10 March, 2023. The listing of the company would be accompanied on 13 March 2023.

ITCONS E-Solutions Limited IPO : Lead Managers

The lead managers are :

Finshore Management Services Limited

The minimum lot size for the company is decided at 2000 shares. This holding accounts to 102000 Rs.. The maximum lot size is decided at 4000 shares (HNI). This amounts to 204000 Rs.. Hence the company’s final holdings would be set as :

	Shares	Amount
Minimum	2000 shares	102000 Rs.
Maximum	4000 shares	204000 Rs.

OBJECTIVES FOR THE IPO

IPO proceeds would be used for general corporate purposes.
The money raised will be also utilised for the working capital requirements.

COMPANY FINANCIALS

Particularly (in Lakh Rs.)	2019-20	2020-21	2021-22
ASSETS	351	341	471
Revenue	835	842	1820
PAT	11	7.5	119

ITCONS E-Solutions Limited had an asset base of 351 Lakh rs in 2020 which decreased to a minor 10 Lakh Rs in 2021. The figures for 2021’s assets was 341 Lakh Rs. However in 2022 the assets rose up to 471 Lakh Rs. In 2019 the revenue of the firm was 835 Lakh rs which increased to 842 Lakh Rs in 2021. In 2022 the company increased its revenue by more than 2 times to 1820 Lakh Rs. The profit of the company was 11 Lakh Rs in 2020 which decreased to 7.5 Lakh Rs in 2021. In 2022 the same was 119 Lakh Rs.

PROS

In total the company has a strength of 800 people working for it and some of them also work on contract basis.
The Human resource categories are general staffing, IT Staffing, Re-badging, Pass through services, recruitment process outsourcing, Payroll services, product installation and Servicing solutions, Managed IT Services and permanent hiring.