• Coreintegra Consulting Services Ltd IPO
CORE INTEGRA logo featuring a light blue stylized figure and swooshes alongside dark blue and light blue text

Coreintegra Consulting Services IPO

  • Status: Live
  • RHP:
  • NSE SME
  • ₹ 236,800 / 3200 shares

    Minimum Investment

Coreintegra Consulting Services IPO Details

  • Open Date

    23 Sep 2026

  • Close Date

    25 Sep 2026

  • IPO Price Range

    ₹ 74 to ₹78

  • IPO Size

    ₹ 21.99 Cr

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Timeline Subscription Status Financials SWOT FAQ Contacts

Coreintegra Consulting Services IPO Timeline

Coreintegra Consulting Services IPO Subscription Status

Last Updated: 24 September 2026 6:42 PM by 5paisa

Coreintegra Consulting Services Limited is an integrated human resource and compliance solutions provider offering staffing, payroll outsourcing, labour-law compliance, HR advisory, vendor management and technology-led HR and regulatory compliance solutions. Its operations are organised across five key verticals: HR Services, Vendor Management Services, Compliance and Advisory, Reg Tech and HR Tech Solutions. 

The company has developed proprietary technology platforms including Ctrl-F for compliance management, CoreX for HR processes, Core PFT for provident fund trust operations and Core Pay for vendor management and payroll-related processes. These platforms are used alongside its managed-service offerings to support workforce management, payroll processing, regulatory compliance and employee lifecycle functions. 

During FY24 to FY26, Coreintegra served more than 600 customers across over 30 industries, with operations spanning 23 states and four union territories. It served more than 1,500 client locations through a network of seven branch offices. HR Services contributed 63.22% of FY26 revenue from operations, while Vendor Management Services contributed 32.11%. 

Established in: 2009

Managing Director: Mahesh Krishnamoorthy 

Peers: 

TeamLease Services Limited  

Quess Corp Limited  

Coreintegra Consulting Services Objectives

The net proceeds from the fresh issue are proposed to be used for: 

1. Capital expenditure towards upgrading the existing IT infrastructure  

2. Augmenting the company's leadership team  

3. Enhancing the visibility and awareness of the company's brand  

4. General corporate purposes  

The company proposes to deploy approximately ₹11.76 crore towards upgrading its IT infrastructure, ₹5.75 crore towards augmenting its leadership team and ₹0.50 crore towards brand visibility and awareness. The balance of the net proceeds is proposed to be used for general corporate purposes, subject to applicable limits. 

Coreintegra Consulting Services IPO Size 

Types Size
Total IPO Size ₹21.99 Cr 
Offer For Sale -
Fresh Issue ₹21.99 Cr 

Coreintegra Consulting Services IPO Lot Size 

Application Lots Shares Amount (₹)
Retail (Min)   2 3200  ₹236800 
Retail (Max)   2 3200  ₹249600 
S-HNI (Min)  3 4800  ₹355200 
S-HNI (Max)  8 12800  ₹998400 
B-HNI (Min)  9 14400  ₹1065600 

Coreintegra Consulting Services IPO Reservation

Investors Category Subscription (times) Shares Offered* Shares bid for Total Amount (Cr.)*
QIB (Ex Anchor) 1.05 2,67,200 2,80,000 2.184
Non-Institutional Buyers 0.46 12,03,200 5,58,400 4.356
  bNII 0.25 8,01,600 1,96,800 1.535
 sNII 0.90 4,01,600 3,61,600 2.820
Retail 0.32 12,06,400 3,84,000 2.995
Total** 0.46 26,76,800 12,22,400 9.535

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

Profit and Loss

Balance Sheet

Particulars (In ₹ Crores) FY24 FY25 FY26
Revenue 366.37  402.61  515.15 
EBITDA 5.81  4.20  6.01 
PAT 4.94  3.46  4.51 
Particulars (In ₹ Crores) FY24 FY25 FY26
Total Assets 49.96  56.80  68.51 
Share Capital 0.02  0.02  7.67 
Total Liabilities 30.52  33.91  41.10 
Cash Flows (₹ Crores) FY24 FY25 FY26
Net Cash Generated From / (used in) Operating Activities 7.55  1.39  (3.05) 
Net Cash Generated From / (used in) Investing Activities (5.06)  (6.45)  3.69 
Net Cash Generated From / (used in) Financing Activities (0.04)  (0.02)  (0.07) 
Net Increase (Decrease) in Cash and Cash Equivalents 2.44  (5.08)  0.57 


Strengths

1. Coreintegra provides integrated HR, staffing, payroll, compliance, vendor-management and technology-led services through five operating verticals.  

2. The company has developed four proprietary technology platforms — Ctrl-F, CoreX, Core PFT and Core Pay — covering different parts of the HR and regulatory-compliance value chain.  

3. Coreintegra served more than 600 customers across over 30 industries during FY24-FY26, with a presence across 23 states and four union territories.  

4. Revenue from operations increased from ₹366.37 crore in FY24 to ₹515.15 crore in FY26, representing an 18.58% CAGR.  

5. Its service footprint covered more than 1,500 client locations through seven branch offices during FY24-FY26.  

Weaknesses

1. Customer concentration is significant. The largest customer accounted for 53.01% of FY26 revenue from operations, while the top five customers contributed 89.31%.  

2. The top 10 customers collectively generated 92.35% of FY26 revenue from operations, increasing the impact that loss or reduction of business from major clients could have on revenue.  

3. HR Services and Vendor Management Services together contributed approximately 95.33% of FY26 revenue, resulting in concentration across two operating verticals.  

4. Employee attrition increased to 54% in FY26 from 42% in both FY25 and FY24, which could raise recruitment and workforce-retention requirements.  

5. Operating cash flow turned negative at ₹3.05 crore in FY26, while trade receivables accounted for a significant portion of the company's asset base.  

Opportunities

1. India's human resource and compliance services market is projected to expand from approximately ₹2.32 lakh crore in FY25 to ₹4.43 lakh crore by FY30.  

2. The staffing and recruitment market, Coreintegra's largest addressable segment, is projected to increase from approximately ₹2.16 lakh crore in FY25 to ₹4.17 lakh crore by FY30.  

3. Increasing outsourcing of payroll, compliance and workforce-management functions can expand demand for integrated providers.  

4. Greater adoption of cloud-based HRMS, compliance technology, automation and RegTech provides scope to scale Coreintegra's proprietary platforms.  

5. The company's existing customer base across more than 30 industries creates opportunities to cross-sell compliance, advisory and technology products alongside staffing and vendor-management services.  

Threats

1. The HR and compliance services industry includes large integrated players, specialist staffing companies, payroll providers and HR-Tech platforms, resulting in competitive pressure on pricing and client acquisition.  

2. Rapid changes in HR technology and automation may require continued investment to maintain and upgrade the company's proprietary platforms.  

3. Changes in labour regulations and compliance requirements can increase the complexity and cost of delivering services if systems and processes are not updated promptly.  

4. IT/ITES and infrastructure customers contributed a substantial share of FY26 revenue, exposing the business to demand changes in these sectors.  

5. The company handles employee, payroll and compliance information through digital platforms, making technology reliability, cybersecurity and data protection important operational risks.  

1. Revenue from operations increased from ₹366.37 crore in FY24 to ₹515.15 crore in FY26, reflecting an 18.58% CAGR over the period.  

2. Coreintegra operates an integrated business model spanning staffing, payroll, compliance, vendor management, RegTech and HR-Tech services.  

3. Four proprietary platforms — Ctrl-F, CoreX, Core PFT and Core Pay — support the company's technology-led service model.  

4. The company has served more than 600 customers across over 30 industries and more than 1,500 client locations, providing a broad operational footprint.  

5. Fresh issue proceeds are proposed to fund IT infrastructure upgrades, leadership expansion and brand-building initiatives, alongside general corporate purposes. 

India's human resource and compliance services market generated approximately ₹2.32 lakh crore in FY25, up from ₹1.33 lakh crore in FY20, reflecting an 11.9% CAGR. The industry report included in the RHP projects the market to reach approximately ₹4.43 lakh crore by FY30, implying a 13.8% CAGR between FY25 and FY30. 

Staffing and recruitment remains the largest segment, with the market projected to grow from around ₹2.16 lakh crore in FY25 to ₹4.17 lakh crore by FY30. Compliance outsourcing increased from approximately ₹1,300 crore in FY20 to ₹2,700 crore in FY25 and is projected to reach about ₹4,300 crore by FY30. Demand is being supported by flexible workforce models, outsourcing, greater regulatory complexity and increased adoption of cloud-based HR and compliance platforms. 

Coreintegra participates across several parts of this value chain through HR Services, Vendor Management, Compliance and Advisory, Reg Tech and HR Tech Solutions. Its combination of managed services and proprietary technology platforms provides exposure to both staffing-led demand and the growing digitisation of HR and regulatory-compliance processes.

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FAQs

Coreintegra Consulting Services IPO opens from September 23, 2026 to September 25, 2026. 

The size of the Coreintegra Consulting Services IPO is approximately ₹21.99 crore at the upper end of the price band. The issue comprises entirely a fresh issue of up to 28,19,200 equity shares, with no Offer for Sale component. 

The price band of Coreintegra Consulting Services IPO is fixed at ₹74 to ₹78 per share. 

1. Login to your 5paisa demat account and select the issue in the current IPO section.  

2. Enter the number of lots and the price at which you wish to apply for the Coreintegra Consulting Services IPO.  

3. Enter your UPI ID and click on submit. Your bid will then be placed with the exchange.  

4. You will receive a mandate notification to block funds in your UPI app.  

The bid lot is 1,600 shares. Individual Investors must apply for a minimum of two lots, equivalent to 3,200 shares. This requires an investment of approximately ₹2,36,800 at the floor price of ₹74 per share. 

The basis of allotment for the Coreintegra Consulting Services IPO is expected to be finalised on September 28, 2026. 

The Coreintegra Consulting Services IPO is tentatively scheduled to list on NSE Emerge on September 30, 2026. 

Marwadi Chandarana Intermediaries Brokers Private Limited is the book-running lead manager to the Coreintegra Consulting Services IPO. 

1. The fresh issue proceeds are proposed to be used for: 

2. Capital expenditure towards upgrading the existing IT infrastructure  

3. Augmenting the company's leadership team  

4. Enhancing the visibility and awareness of the company's brand  

5. General corporate purposes