ITCONS E-Solutions was incorporated on May 15, 2007. The company is in the business of providing human resource services to public and private organisations, mostly in the organised sector, in diverse roles and responsibilities. The services primarily include manpower supply/recruitment and sourcing/staffing.
| Bidding Dates |
|---|
| 28 Feb 2023 - 02 Mar 2023 |
| Subscription |
|---|
| 16.74x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,02,000 | 1 | 1 | 2000 | 1.7 M | ₹51 | 66.19 % | ₹86.7 M | RHP DOC |
ITCONS E-Solutions IPO SUBSCRIPTION STATUS
02 Mar '23ITCONS E-Solutions IPO overall subscription rate was 16.74 times the total available shares
ITCONS E-Solutions IPO retail subscription rate was 17.35 times in the retail segment
ITCONS E-Solutions IPO non-institutional investor subscription rate was 16.12 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
02 Mar 2023 (Day 3) | 17.35x | 16.12x | - |
01 Mar 2023 (Day 2) | 3.27x | 1.09x | - |
28 Feb 2023 (Day 1) | 1.17x | 0.86x | - |
ITCONS E-Solutions FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY23 | 10.6 | 160.5 | -13.1 | -17.4 | 9.9% |
| FY22 | 11.9 | 180.5 | 2.7 | 2.7 | 9.9% |
| FY21 | 0.8 | 83.2 | 5.7 | 5.4 | 2.7% |
| FY20 | 1.1 | 83.4 | -14.1 | -14.2 | 4.6% |
ITCONS E-Solutions IPO SUBSCRIPTION STATUS DETAILS
ITCONS E-Solutions had 1.7 M shares on offer
ITCONS E-Solutions IPO offer price was ₹51
ITCONS E-Solutions IPO minimum Investment was ₹102000
ITCONS E-Solutions IPO issue size was ₹ 86.7 M
ITCONS E-Solutions had a minimum lot size of 2000 Shares per application
ITCONS E-Solutions NUMBER OF SHARES ON OFFER
ITCONS E-Solutions IPO IMPORTANT DATES
| Issue Open Date | 28 Feb 2023 |
| Issue close Date | 02 Mar 2023 |
| Allotment Date | 08 Mar 2023 |
| Refund Date | 09 Mar 2023 |
| Demat Account Credit Date | 10 Mar 2023 |
| Listing Date | 13 Mar 2023 |
| Listing on Exchange(s) | BSE |
| ITCONS E-Solutions Allotment Status | Exchange |
ITCONS E-Solutions IPO subscription opened on 28 Feb 2023, and closed on 02 Mar 2023
IPO allotment for ITCONS E-Solutions was finalized on Wednesday, 08 Mar 2023
IPO listing for ITCONS E-Solutions was on BSE on Monday, 13 Mar 2023
ITCONS E-Solutions IPO LISTING GAINS
| Issue Price (adjusted) | 51.0 |
| Listing Open Price | 47.0 |
| Listing Close Price | 49.3 |
| Listing Gain% | -7.9% |
| Current Gain% | 431.0% |
ITCONS E-Solutions Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ITCONS E-Solutions Ltd. | 270.8 | 136.2 | 46.4 | -4.8 | 1.5 | 8.7 | 7 | 89.8 | 57.2 | 5.3 | 61.8 | 5.8 | -9.7 |
| Sagility Ltd. | 43.7 | 20443.4 | 20.6 | 0.4 | 2.7 | 9.6 | 7.3 | 7290.8 | 29.6 | 924.8 | 71.5 | 2.1 | 49.2 |
| International Gemological Institute Ltd. | 355.8 | 15376.2 | 25.2 | 1 | 11.3 | 47.8 | 38.3 | 1661.9 | 52.7 | 711.2 | 66.4 | 14.1 | 24.3 |
| Indiabulls Ltd. | 29.4 | 6855.8 | 16.4 | 0 | 6.2 | 8.9 | 6.6 | 880.8 | 172602 | 273.9 | 501.6 | 1.8 | 739.2 |
| SIS Ltd. | 435 | 6146.2 | 41.9 | 0.2 | 0.4 | 5.4 | 1.8 | 16030.1 | 20.9 | 137.8 | 1069.1 | 10.4 | 261.6 |
| eMudhra Ltd. | 538.8 | 4462.3 | 38.8 | 1.5 | 6 | 11.8 | 8.9 | 713.2 | 35.1 | 107.8 | 27.4 | 13.9 | 25.5 |
ITCONS E-Solutions INFORMATION ON IPO ISSUE
About ITCONS E-Solutions
ITCONS E-Solutions was incorporated on May 15, 2007. The company is in the business of providing human resource services to public and private organisations, mostly in the organised sector, in diverse roles and responsibilities. The services primarily include manpower supply/recruitment and sourcing/staffing.
Object of the Issue
- To meet the working capital requirements
- To meet the issue expenses
- General corporate purposes
ITCONS E-Solutions - PROMOTERS
| Name |
|---|
| Gaurav Mittal |
| Swati Jain |
ITCONS E-Solutions Lead Manager of the Issue
Finshore Management Services Limited
info@finshoregroup.com
ITCONS E-Solutions Registrar to the issue
Cameo Corporate Services Limited
investor@cameoindia.com
ITCONS E-Solutions Strengths
Diverse range of service offerings
The company has a diverse range of service offerings that cater to IT staffing, general staffing, re-badging, recruitment process outsourcing, pass-through services, payroll services, managed services, product installation & servicing solutions and permanent hiring services
Cost-competitive solution
The company offers a combination of solutions to its clients, including a hire-train-deploy model and graduate hire programmes at a competitive cost
ITCONS E-Solutions Risks
Highly competitive industry
The industry is highly competitive, and may not be able to compete effectively with competitors
Legal proceedings
The directors are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the business, result of operations and financial conditions
IPO FAQs
The promoters of the company are Gaurav Mittal and Swati Jain.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 51.0 - 51.0.
The IPO application opens on Feb 28, 2023 and closes on Mar 02, 2023.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 102,000.0, the maximum value for this IPO is Rs 102,000.0.
This IPO will be allotted on Mar 08, 2023.
The refund will be credited to your account on Mar 09, 2023.
The allotted shares will be credited to your demat on Mar 10, 2023.
ITCONS E-Solutions Ltd.’s shares listed on the stock exchanges on Mar 13, 2023.