ITCONS e-Solutions Ltd has secured a substantial new contract worth ₹3,43,47,078 from the Public Works Department of Uttar Pradesh, marking another significant milestone in the company's government sector engagement. The contract, disclosed under Regulation 30 of SEBI listing requirements, involves providing manpower outsourcing services through deployment of 174 resources.

Contract Details and Scope

The comprehensive service agreement encompasses manpower outsourcing services for a six-month duration, demonstrating the government's confidence in ITCONS e-Solutions' service delivery capabilities. The contract value of ₹3,43,47,078 is inclusive of all taxes and duties, providing clarity on the total financial commitment.

Timeline and Implementation

The contract is scheduled to commence on February 01, 2026, and will remain in force until August 01, 2026. The agreement includes provisions for potential extension through mutual agreement between the parties, offering flexibility for continued collaboration beyond the initial six-month period.

Regulatory Compliance and Disclosure

The company has fulfilled its disclosure obligations under SEBI regulations, providing comprehensive details as required under SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The disclosure confirms this is a domestic contract with no related party transactions or promoter group interests involved.

Strategic Significance

The company has characterized this contract as a significant milestone, reflecting the continued trust placed by government agencies in their service capabilities. This government sector engagement reinforces ITCONS e-Solutions' position in the public sector manpower services market and demonstrates their ability to secure substantial contracts from established government departments.

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.