Fixed Price IPO | ₹9 Cr | Listed at BSE SME | Tue, Feb 28, 2023 - Thu, Mar 2, 2023
ITCONS E-Solutions IPO is a fixed price issue of ₹8.67 crores. The issue is entirely a fresh issue of 0.17 crore shares of ₹8.67 crore.
ITCONS E-Solutions IPO bidding started from Feb 28, 2023 and ended on Mar 2, 2023. The allotment for ITCONS E-Solutions IPO was finalized on Mar 8, 2023. The shares got listed on BSE SME on Mar 13, 2023.
ITCONS E-Solutions IPO price is ₹51 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,02,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,04,000.
Finshore Management Services Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to ITCONS E-Solutions IPO RHP for detailed Information.
IPO Open
Tue, Feb 28, 2023
IPO Close
Thu, Mar 2, 2023
Issue Price
₹51 per share
Market Cap (Pre-IPO)
₹25.65 Cr
| IPO Date | 28 Feb to 2 Mar, 2023 |
| Listed on | Mon, Mar 13, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹51 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 17,00,000 shares (agg. up to ₹9 Cr) |
| Reserved for Market Maker | 86,000 shares Nikunj Stock Brokers Ltd. (agg. up to ₹0.4386 Cr) |
| Fresh Issue (Ex Market Maker) | 16,14,000 shares (agg. up to ₹8 Cr) |
| Net Offered to Public | 16,14,000 shares (agg. up to ₹8 Cr) |
| Share Holding Pre Issue | 33,28,726 shares |
| Share Holding Post Issue | 50,28,726 shares |
| BSE Script Code | 543806 |
| ISIN | INE0O6A01019 |
ITCONS E-Solutions IPO comprises a total issue size of 17,00,000 shares. The net offer to the public is 16,14,000 shares, after excluding 86,000 shares allotted on a firm basis. Of the Net offer 8,06,000 (49.94%) allocated to NII 8,08,000 (50.06%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 8,06,000 | 49.94% | 47.41% |
| Retail Shares Offered | 8,08,000 | 50.06% | 47.53% |
| Firm Reservations | |||
| Market Maker Shares Offered | 86,000 | 5.06% | |
| Total Shares Offered | 17,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,02,000 |
| Retail (Max) | 1 | 2,000 | ₹1,02,000 |
| HNI (Min) | 2 | 4,000 | ₹2,04,000 |
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:
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:
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.
| Period Ended | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 7.92 | 4.71 | 3.41 | 3.51 |
| Total Income | 16.05 | 18.20 | 8.42 | 8.35 |
| Profit After Tax | 1.06 | 1.19 | 0.08 | 0.11 |
| NET Worth | 4.62 | 2.23 | 1.04 | 0.97 |
| Reserves and Surplus | 1.29 | 2.22 | 1.03 | 0.96 |
| Total Borrowing | 1.77 | 1.06 | 1.36 | 1.45 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working capital requirements | 6.00 |
| 2 | Issue related expenses | 1.27 |
| 3 | General corporate expenses | 1.40 |
| KPI | |
|---|---|
| ROE | 53 |
| ROCE | 58 |
| Debt/Equity | 0.48 |
| RoNW | 53.31 |
| PAT Margin | 7.00% |
| EBITDA Margin | 9.87% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.16 | |
| P/E (x) | 12.09 | |
| Promoter Holding | 89.67% | 59.36% |
| Market Cap | ₹25.65 Cr. |
The ITCONS E-Solutions IPO is subscribed 16.79 times on March 2, 2023 6:58:00 PM (Day 3). 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)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 16.12 | 8,06,000 | 1,29,96,000 |
| Retail | 17.45 | 8,08,000 | 1,40,98,000 |
| Total | 16.79 | 16,14,000 | 2,70,94,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees including other intermediaries Fees | 0.55 |
| 2 | Regulators Including Stock Exchanges | 0.10 |
| 3 | Advertising and Marketing Expenses | 0.60 |
| 4 | Printing and distribution of Issue Stationary | 0.02 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹51.00 |
| Open | ₹46.99 |
| Low | ₹46.00 |
| High | ₹49.33 |
| Last Trade | ₹49.33 |
Lead Manager Reports
ITCONS E-Solutions IPO is a SME IPO of 17,00,000 equity shares of the face value of ₹10 aggregating up to ₹9 Crores. The issue is priced at ₹51 per share. The minimum order quantity is 2000.
The IPO opens on Tue, Feb 28, 2023, and closes on Thu, Mar 2, 2023.
Cameo Corporate Services Ltd. 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
Visit Zerodha IPO Application Process Review for more detail.
The ITCONS E-Solutions IPO opens on Tue, Feb 28, 2023 and closes on Thu, Mar 2, 2023.
ITCONS E-Solutions IPO lot size is 2000, and the minimum amount required for application is ₹1,02,000.
You can apply in ITCONS E-Solutions IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Fri, Mar 10, 2023. Check the ITCONS E-Solutions IPO allotment status.
The ITCONS E-Solutions IPO listing date is on Mon, Mar 13, 2023.
