ITCONS E-Solutions Ltd has entered into a strategic agreement with Instakart Services Private Limited to provide comprehensive manpower services for supply chain and logistics operations across India. The company announced this development on March 27, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Agreement Details

The partnership involves ITCONS providing manpower services for all supply chain and logistics operation locations of Instakart in India. Instakart Services Private Limited is described as a major Indian logistics and supply chain company that functions as the primary courier and last-mile delivery arm of Flipkart, providing warehousing, same-day delivery, and supply chain solutions while handling high-volume e-commerce shipments across India.

Regulatory Compliance

The agreement disclosure was made in compliance with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has confirmed that:

• No shareholding exists between the parties
• The parties are not related to promoter, promoter group, or group companies
• The transaction does not fall within related party transactions
• No arm's length pricing considerations are required

Service Scope

Under the agreement, ITCONS E-Solutions will provide manpower services including skilled, semi-skilled, and unskilled personnel specifically for supply chain and logistics-related roles. The exact requirements will be determined based on Instakart's operational needs across their various locations in India.

The agreement size will be mutually determined between the parties as per the specific scope of work to be executed, providing flexibility to scale services based on business requirements.

ITCONS E-Solutions Ltd has announced the constitution of its Advisory Committee, effective March 27, 2026, bringing together three distinguished professionals to guide the company's strategic direction and operational excellence.

Advisory Committee Composition

The newly formed committee comprises experienced professionals from diverse industry backgrounds, each appointed for a one-year term:

Leadership Profiles

Alok Aggarwal - Chairman

Alok Aggarwal brings over two decades of experience in housing finance and retail lending in India. Currently serving as CEO of Muthoot Homefin, he has demonstrated expertise in transforming and scaling businesses, reviving underperforming institutions, and building high-growth platforms with robust governance and risk management. His previous leadership roles include MD & CEO of National Trust Housing Finance and senior positions at Equitas Small Finance Bank and Tata Capital, where he contributed to national expansion and strategic growth initiatives.

Deepak Kumar Srivastava - Member

Mr. Srivastava is a legal professional with over four decades of experience in the legal field, including 31 years of distinguished judicial service in the Uttar Pradesh Judiciary. During his tenure as a District Judge, he presided over civil, criminal, constitutional, and administrative matters. Post-retirement, he has been actively engaged as an Arbitrator, Mediator, Legal Advisor, and Consultant. He is Co-Founder of Deepak & Kranti Legal Associates LLP and serves as a panel arbitrator with reputed institutions including C.I.A.C., SCOPE, BHEL, and the High Court of Allahabad.

Sanjay Kumar Verma - Member

Mr. Verma is a senior banking professional with extensive leadership experience at Bank of India across India and international centres, including Hong Kong and China. He served as General Manager, New Delhi (2017–2021) and Chief Executive Officer, Hong Kong (2013–2017), overseeing cross-border banking operations, treasury, and regulatory coordination. His experience includes leading initiatives involving liaison with Government of India departments and international financial institutions such as JICA, AFD, and KfW for development projects including bullet trains, infrastructure, and agriculture financing.

Strategic Objectives

The Advisory Committee will provide guidance to the Board of Directors on several key areas:

• Business strategy development and implementation
• Long-term planning and strategic direction
• Operational performance optimization
• Financial performance enhancement
• Leadership mentoring and development
• Identification of new business opportunities

The company believes that the onboarding of these experienced professionals will assist in providing valuable industry insights and financial expertise, thereby supporting improved operational and financial performance while fostering sustainable growth and long-term value creation.

Regulatory Compliance

The appointment has been disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that none of the appointed members are related to any existing directors of the company, ensuring independence in advisory functions.