ITCONS e-Solutions Ltd has successfully allotted 1,00,000 fully paid-up equity shares following the conversion of warrants by an investor. The Board of Directors approved this allotment on January 21, 2026, marking another step in the company's capital expansion through its preferential warrant program.

Warrant Conversion Details

The allotment was made to Venumuddula Vivek Reddy, a public category investor, who converted his entire warrant holding. The conversion required payment of the remaining exercise price, representing 75% of the total warrant value.

Impact on Share Capital

The warrant conversion has resulted in an increase in the company's paid-up equity capital. The newly allotted shares rank pari passu with existing equity shares in all respects.

Outstanding Warrants Position

The company originally allotted 1,00,40,000 warrants on July 29, 2024. Following this latest conversion, a substantial number of warrants remain available for conversion.

Shareholding Impact

The conversion has resulted in Venumuddula Vivek Reddy acquiring a 1.37% stake in the company. Prior to this allotment, the investor held no equity shares in ITCONS e-Solutions.

Warrant Exercise Timeline

The remaining 77.66 lakh warrant holders have 18 months from the original allotment date of July 29, 2024, to exercise their conversion rights. Each warrant can be converted into one equity share by paying the remaining 75% exercise price of ₹53.25 per warrant. The initial 25% payment of ₹17.75 per warrant was made during the original warrant allotment.

The Board meeting for this allotment was conducted from 4:30 PM to 5:00 PM on January 21, 2026, with Company Secretary and Compliance Officer Pooja Gupta signing the disclosure documents.

ITCONS E-Solutions Ltd has secured a substantial three-year contract worth ₹66.87 crores from Bank of Maharashtra, marking a significant business development for the IT services company. The contract was announced through a regulatory filing under SEBI Regulation 30 on January 15, 2026.

Contract Overview

The comprehensive agreement involves providing manpower outsourcing services to Bank of Maharashtra, which operates under the Department of Financial Services, Ministry of Finance. The contract details are structured as follows:

Service Scope and Implementation

The contract requires ITCONS E-Solutions to deploy 63 resources to support Bank of Maharashtra's operations. This domestic contract represents a substantial commitment from a major public sector bank, demonstrating confidence in the company's service delivery capabilities. The agreement includes provisions for potential extension beyond the initial three-year term through mutual agreement between both parties.

Regulatory Compliance and Disclosure

The company has fulfilled all regulatory requirements under SEBI guidelines, providing comprehensive details as mandated by SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Key compliance aspects include:

Strategic Significance

This contract award represents a significant milestone for ITCONS E-Solutions, reinforcing its position in the government and public sector services market. The company emphasized that this development reflects the continued trust placed in them by government agencies, potentially opening doors for similar opportunities in the public sector domain.

The three-year duration provides revenue visibility and stability, while the substantial contract value of ₹66.87 crores demonstrates the company's capability to handle large-scale service deployments. The February 2026 commencement date allows adequate preparation time for resource mobilization and service implementation.