ITCONS e-Solutions Allots 6.97 Lakh Equity Shares Upon Warrant Conversion

ITCONS e-Solutions Ltd has successfully completed the allotment of 6,97,200 fully paid-up equity shares following the conversion of warrants on January 07, 2026. The Board of Directors approved this allotment during their meeting held on the same date, marking a significant capital expansion for the company.

Warrant Conversion Details

The latest allotment involved eight investors who exercised their conversion rights for a portion of their warrant holdings. The conversion details are structured as follows:

Allottee	Category	Total Warrants	Previously Converted	Current Conversion	Pending Conversion
Mrs Swati Jain	Promoter	22,24,000	3,44,400	2,64,000	16,15,600
Mr. Gaurav Mittal	Promoter	37,68,000	2,00,000	1,58,000	34,10,000
Mr. Adit Mittal	Promoter Group	6,90,000	3,68,800	2,35,200	86,000
Mr. Satish Kumar	Non-Promoter	8,000	0	8,000	0
Mr. Sunil	Non-Promoter	8,000	0	8,000	0
Mr. Mishra Harsh Kumar Sarvendra Kumar	Non-Promoter	8,000	0	8,000	0
Mr. Ramu Panjiyar	Non-Promoter	8,000	0	8,000	0
Ms. Pooja Gupta	Non-Promoter	8,000	0	8,000	0

The conversion was executed at an exercise price of ₹53.25 per warrant, representing 75% of the total warrant exercise price of ₹71.00. This brought in ₹3,71,25,900 to the company's coffers.

Impact on Share Capital and Ownership

The warrant conversion has resulted in a substantial increase in the company's paid-up equity capital. The capital structure transformation shows:

Parameter	Before Allotment	After Allotment
Paid-up Capital	₹6,50,59,260	₹7,20,31,260
Number of Shares	65,05,926	72,03,126
Face Value per Share	₹10.00	₹10.00

The shareholding pattern has been enhanced following this conversion:

Promoter	Pre-Issue Shares	Pre-Issue %	Shares Allotted	Post-Issue Shares	Post-Issue %
Mrs. Swati Jain	13,66,822	21.01%	2,64,000	16,30,822	22.64%
Mr. Gaurav Mittal	21,61,154	33.22%	1,58,000	23,19,154	32.20%
Mr. Adit Mittal	3,68,800	5.67%	2,35,200	6,04,000	8.39%

Outstanding Warrants Position

Despite this conversion, a significant number of warrants remain outstanding for future conversion. The updated warrant reconciliation reveals:

Particulars	Number of Warrants
Total Warrants Allotted (July 29, 2024)	1,00,40,000
Warrants Converted (till January 07, 2026)	21,74,400
Total Outstanding Warrants	78,65,600

The remaining 78,65,600 warrants can be converted into an equal number of equity shares by paying ₹53.25 per warrant within 18 months from the original allotment date of July 29, 2024.

Regulatory Compliance and Share Rights

The allotment was conducted in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The newly allotted equity shares rank pari passu with existing equity shares of the company in all respects, ensuring equal rights and privileges for all shareholders.

The Board meeting for this allotment commenced at 10:30 AM and concluded at 11:00 AM on January 07, 2026, with Company Secretary and Compliance Officer Pooja Gupta overseeing the regulatory compliance aspects of the transaction.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.73%	-4.85%	-12.56%	-24.75%	-35.24%	+758.75%

ITCONS E-Solutions Limited has secured a substantial new contract worth ₹9.46 crores from a government entity, marking a significant business development for the IT services company. The contract was awarded by the Central Institute of Plastics Engineering and Technology under the Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers.

Contract Details and Scope

The comprehensive contract details demonstrate the substantial nature of this engagement:

Parameter:	Details
Contract Value:	₹94,58,727.32 (inclusive of all taxes and duties)
Service Type:	Manpower Outsourcing Services
Resources Required:	34 resources
Contract Duration:	One year
Start Date:	January 14, 2026
End Date:	January 13, 2027
Extension Provision:	Possible by mutual agreement

The contract focuses on manpower outsourcing services, requiring the deployment of 34 resources for the government institute. This represents a domestic engagement with a well-established government entity in the chemicals and petrochemicals sector.

Regulatory Compliance and Disclosure

The company announced this development through a formal disclosure to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made on December 30, 2025, ensuring compliance with regulatory requirements for material contract announcements.

Key compliance aspects include:

No promoter or group company interest in the awarding entity
Contract does not fall under related party transactions
Full compliance with SEBI Master Circular requirements
Transparent disclosure of all material terms and conditions

Strategic Significance

The contract represents a notable achievement for ITCONS E-Solutions Limited in the government services sector. The company emphasized that this contract marks a significant milestone and reflects the continued trust placed in them by government agencies. The engagement with the Central Institute of Plastics Engineering and Technology strengthens the company's position in providing specialized manpower solutions to government institutions.

The one-year duration with potential extension provisions indicates the possibility of a longer-term relationship, subject to performance and mutual agreement between the parties. This contract adds to the company's portfolio of government engagements and demonstrates their capability to handle substantial resource deployment requirements.