New Delhi [India], February 20 (ANI/SRV): ITCONS E-Solutions Limited, a renowned name in the staffing and recruitment sector, is set to launch its SME IPO on the 28th Feb, 1st March and 2nd of March 2023 at the SME arm of Bombay Stock Exchange (BSE) with the aim to raise Rs 8.67 crores. With the IPO, 33.81 per cent stock of the company will be available for purchase, allowing the company to effectively raise capital for growth.
Inviting the larger stakeholders to be part of the company’s growth, ITCONS E-Solutions Limited, known to provide first-rate recruitment services primarily in organized industries, will issue the IPO at an offering price of Rs 51, with a face value of Rs 10 per share, at a minimum trading lot of 2000 shares and their multiples. Retail investors are welcome to purchase up to 2000 shares (1 lot) worth Rs 102,000 while high-net-worth investors/QIB begin with minimum 2 lots, costing Rs 204,000.
On a forward-looking note, about the IPO, Dr Gaurav Mittal, MD of ITCONS E-Solutions Limited, said, “We are proud to launch this IPO at the BSE SME Exchange. We believe it is our continuous efforts and growth over the decade that has made it possible to reach this stage. The next step for the company is to not only open itself to the public, sharing its growth story with many more people, but also to raise more wealth for its coffers to strengthen the company’s future trajectory as well as to venture into new vistas of operations. “We have always strived to offer the most innovative staffing and recruitment solutions; the IPO will only bolster our efforts.”
The IPO, promising Rs 41 of share premium, marks a new milestone for the Delhi-based company, which began as a proprietorship before it was incorporated on the 15th of May 2007. Owing to its expert leadership at the helm and its extensive experience in recruitment, ITCONS E-Solutions Limited has powered manpower-related services for major MNCs and entities in Information Technology, Food, FMCG, and other sectors, as well as other players in the Staffing and Recruitment sector. As a result of its strategic and consistent growth, currently, following a robust post-pandemic year-on-year growth of 21.9 percent in the staffing solutions industry, the company holds authorized capital worth Rs 600 lacs and a total paid-up capital amounting to Rs 332.87 lacs. ITCONS E-Solutions IPO Registrar is Cameo Corporate Services Limited; Market Maker is Nikunj Stock Brokers Ltd and Lead Manager is Finshore Management Services Limited.
Testifying to the robust success of the company are the whopping total revenue figures in the last three years: Rs 834.95 lakhs in 2020, Rs 842.48 lakhs in 2021 and Rs 1,820.36 lakhs in 2022 as on March 31. In the next six months (till September 30), the total income clocked over Rs 1605.05 lakhs with PAT of 106.12 lakhs. Similarly, in the previous year, the company’s EBITDA
(Earnings Before Interest, Taxes, Depreciation, and Amortization) peaked at 2,195.96 per cent, while there was a 137.02 per cent rise in its net worth during FY2022, with total assets increasing by 48.22 per cent along with a decrease in liabilities of around -8.67 per cent. Company has high expansion and growth plans in the next financial year.
The driving force behind the company’s leading operations in IT services, General Staffing, Re-badging, Recruitment Process Outsourcing, pass-through services, Payroll services, Permanent Hiring and other end-to-end HR solutions, is the vision and stewardship of its CEO, Dr. Gaurav Mittal. Since 2007, he has been responsible for driving the success story of ITCONS E-Solutions Limited. With keen expertise in mathematics, IT, and astrology, the tycoon is not only the holder of an honorary Doctorate in Ayurveda, Astrology and Vastu Sciences from the American University but also the recipient of the prestigious Noble peace award, Karmaveer Chakra Award and Global Fellowship Award from the International Confederation of Non-Governmental Organizations in partnership with the United Nations.
For more information about the company and financials, please check the Prospectus at http://itconsinc.com or at http://bsesme.com website.
This story has been provided by SRV. ANI will not be responsible in any way for the content of this article. (ANI/SRV)
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