Coreintegra Consulting Services IPO Details: Key Dates, Price Band & Investment Overview

By Wealthova | Last Updated: September 20, 2026

Coreintegra Consulting Services Limited, an established player in the regulatory technology (RegTech) and human resources management sector, is gearing up to make its primary market debut with an upcoming ₹21.99 Crore SME IPO. Operating as a premier provider of tech-driven HR and compliance solutions, the company focuses on delivering recruitment, staffing, payroll processing, and labor law advisory services through its proprietary platforms like CoreX, Core Pay, Ctrl-F, and Core-PFT. Operating a highly scalable and diverse B2B business model, Coreintegra provides critical vendor management and just-in-time hiring services, backed by growing demand across 30+ industries and an expansive footprint spanning over 600 clients nationwide. The subscription window for this book-built issue opens on September 23, 2026, and closes on September 25, 2026. The price band is set between ₹74 to ₹78 per equity share. The ₹21.99 Crore offering consists entirely of a Fresh Issue of 28.19 lakh shares, with absolutely no Offer for Sale (OFS) component. The company plans to utilize the fresh capital primarily to fund IT infrastructure upgrades, augment its leadership team, enhance brand visibility, and for general corporate purposes. Set to list on the NSE SME platform, market participants are closely watching this visible, technology-driven enterprise, backed by a massive FY26 total revenue of ₹516.30 Crore and a net profit of ₹4.51 Crore. Below, we break down the financial health, industry risk factors, and our honest Smart Market Insights to help you decide if you should subscribe to this issue!


Coreintegra Consulting Services IPO Details

Quick IPO Factsheet

Bidding Opens

September 23, 2026

Bidding Closes

September 25, 2026

Price Band

₹74 to ₹78

(Book Built)
Lot Size

1,600 Shares

(Min. 2 Lots for Retail)
Total Issue Size

₹21.99 Cr

(28.19 Lakh Shares)
Fresh Issue Size

₹21.99 Cr

(Entirely Fresh Issue)
Retail Category

45.07% Allocation

Face Value

₹10 Base

Market Structure

SME (NSE SME)




Coreintegra Consulting Services IPO Timeline

IPO Open Date September 23, 2026
IPO Close Date September 25, 2026
Basis of Allotment September 28, 2026
Initiation of Refunds September 29, 2026
Credit to Demat Account September 29, 2026
NSE SME Listing Date September 30, 2026



Deep-Dive Corporate Profile: What Does Coreintegra Consulting Services Limited Do?

Incorporated in 2009, Coreintegra Consulting Services Limited is a highly specialized, technology-driven enterprise operating at the intersection of Human Resources (HR) and Regulatory Technology (RegTech). The company provides an end-to-end suite of B2B workforce management solutions designed to help modern enterprises streamline their recruitment, payroll, and complex labor law compliance.

Rather than functioning as a traditional staffing agency, Coreintegra leverages its powerful in-house proprietary software platforms to digitize and automate the entire human resource value chain. Its robust service and product portfolio is segmented into two core technological verticals:

  • HR Tech Solutions: The company powers enterprise human capital management through its proprietary platforms, CoreX and Core Pay. These systems handle everything from targeted recruitment and just-in-time hiring to seamless payroll processing, employee lifecycle management, upskilling, and workforce engagement.
  • RegTech & Compliance Solutions: Navigating India's complex labor laws is a major pain point for large corporations. Coreintegra solves this through its platforms Ctrl-F and Core-PFT, which automate labor law compliance, manage necessary licenses and registrations, handle tax/benefits administration, and provide comprehensive HR advisory and policy drafting services.
  • Vendor Management & Staffing: The business also offers extensive executive search, mid-to-senior level hiring, and third-party vendor management services across 30+ industries, serving a massive base of over 600 corporate clients.

By effectively marrying deep domain expertise with scalable software, Coreintegra has successfully built an asset-light, recurring-revenue business model that allows clients to outsource their entire HR and compliance burden.


Why is the Company Raising Funds? (Objects of the Issue)

The Coreintegra Consulting Services IPO is an NSE SME offering comprising entirely of a Fresh Issue of ₹21.99 Crore (28.19 lakh shares). The promoters are not diluting any of their shares via an Offer for Sale (OFS), meaning 100% of the net proceeds will be injected directly into the company to fuel the following strategic growth objectives:

  • Capital Expenditure for IT Infrastructure Upgrades (₹11.76 Crore): As a tech-first HR and RegTech provider, the company's backbone is its software ecosystem (CoreX, Core Pay, Ctrl-F). The lion's share of the IPO capital is dedicated to heavily upgrading its existing IT infrastructure, enhancing cloud capabilities, and building new technological features to support a rapidly expanding national client base.
  • Augmenting the Leadership Team (₹5.75 Crore): To drive its next phase of aggressive scaling, the company will deploy a significant portion of funds to attract, hire, and retain top-tier executive talent and domain experts to lead new business verticals.
  • Brand Visibility & Awareness (₹0.50 Crore): The company plans to increase its market share through targeted branding, digital advertising, and corporate marketing campaigns aimed at securing larger enterprise contracts.
  • General Corporate Purposes: The remaining balance will be allocated toward meeting public issue expenses and funding day-to-day corporate contingencies and working capital buffers.

💻 IT Infrastructure 53.48%

₹11.76 Crore is allocated to upgrade existing IT infrastructure, enhance cloud capabilities, and develop new RegTech software features for its proprietary platforms like CoreX and Ctrl-F.

👥 Leadership Team 26.15%

₹5.75 Crore will be deployed to attract, hire, and retain top-tier executive talent and domain experts to lead the company's next phase of aggressive B2B enterprise scaling.

📢 Brand Visibility 2.27%

₹0.50 Crore is earmarked for targeted digital branding, advertising, and corporate marketing campaigns aimed at securing larger institutional clients.

🏛️ General Corporate 18.10%

The balance of approximately ₹3.98 Crore is reserved for meeting standard public issue expenses and funding ongoing day-to-day corporate contingencies.



Company Financials

*All amounts are in ₹ Crores (Restated Consolidated)
📅 Period Ended 📈 Total Income 💼 Net Worth 💰 PAT 🏦 Assets
FY 2024 ₹368.44 ₹19.43 ₹4.94 ₹49.96
FY 2025 ₹404.39 ₹22.89 ₹3.46 ₹56.80
FY 2026 ₹516.30 ₹27.41 ₹4.51 ₹68.51



Coreintegra Consulting Services IPO Key Performance Indicators (KPIs)

Financial KPI (FY26)* Value
Return on Equity (ROE) 17.94% (FY26)
Return on Capital Employed (ROCE) 20.19% (FY26)
EBITDA Margin 1.17% (FY26)
PAT Margin 0.87% (FY26)
Earnings Per Share (EPS) ₹5.88 (Pre-IPO) | ₹4.30 (Post-IPO)
Price/Earning (P/E) Ratio 13.27x (Pre-IPO) | 18.14x (Post-IPO)
Net Asset Value (NAV) ₹35.74 (Pre-IPO)
Price to Book (P/B) 2.18x (At Upper Band)



Promoters & Shareholding Pattern

Shareholder Category Pre-IPO Holding Post-IPO Holding
Promoter & Promoter Group 93.04% 68.03%
Public / Institutional / Others 6.96% 31.97%
💡
Smart Market Insights

Coreintegra Consulting Services Limited enters the public market backed by its founding promoters: Sriram Natarajan, Sangeetha Sriram, and Gaurav Bali. Prior to the IPO, the promoters collectively held a dominant 93.04% equity stake, with the remaining 6.96% held by public/other shareholders. The ₹21.99 Crore issue is entirely a fresh equity dilution with absolutely no Offer for Sale (OFS). Post-issue, the promoter holding will adjust to a comfortable majority stake of 68.03%, ensuring strong alignment with minority shareholders. The fresh capital is strategically directed toward upgrading its proprietary IT infrastructure (CoreX, Ctrl-F) and expanding its leadership team to aggressively scale its B2B enterprise client base.

Industry Peer Comparison

Company Name EPS (₹) P/E Ratio (Post-IPO) RoNW (%)
Coreintegra Consulting Services Ltd (IPO) 4.30 18.14x 17.94%
Quess Corp Limited 14.85 23.06x 19.05%
Team Lease Services Limited 83.30 14.74x 13.55%



IPO Strengths & Key Risks

Strengths
Proprietary RegTech & HR Tech Platform Moat: Unlike conventional staffing agencies, Coreintegra has developed robust in-house software platforms—including Ctrl-F, Core-PFT, CoreX, and Core Pay. This proprietary technological ecosystem automates intricate labor law compliances, payroll, and benefits across 30+ sectors, creating strong switching costs and sticky multi-year engagements across its 600+ enterprise clients.
Substantial Revenue Scale with Pristine Balance Sheet: The business has demonstrated aggressive top-line momentum, expanding Total Income from ₹368.44 Crore in FY24 to ₹516.30 Crore in FY26. Despite operating at high revenue volumes, the company has maintained strict fiscal discipline, entering the public market virtually debt-free with an enviable Debt-to-Equity ratio of 0.05x.
Healthy Capital Efficiency & Return Metrics: Coreintegra delivers respectable return ratios for an asset-light tech and service firm, clocking an FY26 Return on Equity (ROE) of 17.94% and a Return on Capital Employed (ROCE) of 20.19%, comparing favorably against established listed peers such as TeamLease Services (13.55% RoNW).
100% Fresh Issue Geared Toward Tech Infrastructure: The entire ₹21.99 Crore issue consists purely of fresh equity dilution with zero Offer for Sale (OFS) exit by promoters. A dominant 53.48% (₹11.76 Crore) is earmarked directly for upgrading IT infrastructure and expanding proprietary software capabilities, laying the foundation for higher-margin SaaS scalability.
Key Risks
Ultra-Thin Operating & Net Profit Margins: The company's biggest fundamental vulnerability is its razor-thin margin profile, inherent to volume-driven staffing models. In FY26, Coreintegra reported an EBITDA margin of just 1.17% and a PAT margin of 0.87%. With such microscopic profit cushions, even minor cost escalations, uncollected billings, or unexpected regulatory penalties could push operational results into the red.
Intense Working Capital & Fixed Payroll Commitments: Operating large-scale enterprise staffing and vendor management requires strict, non-negotiable monthly wage disbursements to deployed associates. Conversely, large corporate clients often operate on extended 60-to-90-day receivable cycles, creating recurring cash flow strains if collections face administrative delays.
Valuation Demands Over Larger Listed Peers: At the upper price band of ₹78, the issue is priced at a post-issue P/E of 18.14x (Post-IPO EPS of ₹4.30). While this represents a discount to Quess Corp (23.06x P/E), it trades at a premium over industry leader TeamLease Services (14.74x P/E), despite TeamLease possessing significantly larger institutional scale and brand recognition.
High Dependency on Corporate Hiring & Economic Cycles: Demand for external staffing, contingent recruitment, and specialized HR advisory is closely correlated with broader corporate capital expenditures and white-collar hiring trends. Any prolonged macroeconomic slowdown or enterprise cost-cutting could lead to contract downsizing or delayed vendor onboarding.



💡

Smart Market Insights

Wealthova Verdict: SUBSCRIBE (FAIRLY PRICED)

Coreintegra Consulting Services Limited enters the NSE SME market as a fast-growing, technology-enabled HR and RegTech service provider. Powered by its proprietary software ecosystems—specifically CoreX and Ctrl-F—the company has successfully scaled its B2B vendor management, payroll, and compliance operations across 30+ sectors. This aggressive scaling is evident in its financials, with the company generating a massive ₹516.30 Crore in Total Income for FY26. A standout fundamental strength is its pristine balance sheet: Coreintegra operates with virtually zero debt (Debt-to-Equity of 0.05x) while delivering a healthy Return on Equity (ROE) of 17.94% and ROCE of 20.19%. Furthermore, the ₹21.99 Crore IPO is 100% a Fresh Issue with zero promoter exit (OFS), ensuring that public capital is injected directly into upgrading IT infrastructure and driving future enterprise growth.

However, an objective, institutional-grade evaluation highlights the inherent constraints of the staffing and HR solutions business model. Because it is a volume-driven operation reliant on massive workforce deployment, the company operates on microscopic profitability buffers. In FY26, Coreintegra reported an EBITDA margin of just 1.17% and a net profit (PAT) margin of 0.87%. With such razor-thin margins, any slight delays in corporate receivable cycles, unexpected regulatory compliance costs, or minor wage escalations could immediately pressure free cash flows. The company will need to successfully leverage its tech platforms (SaaS components) to expand these margins post-listing.

On the valuation front, the management has priced the issue sensibly and left money on the table for investors. At the upper band of ₹78, the stock demands a post-issue Price-to-Earnings (P/E) multiple of 18.14x. This places Coreintegra precisely in the sweet spot between its larger listed peers—trading slightly above TeamLease Services (14.74x P/E) but at a noticeable discount to Quess Corp (23.06x P/E). Given the asset-light nature of the business, an asking Price-to-Book (P/B) of 2.18x against a pre-IPO NAV of ₹35.74 is highly reasonable. Considering the complete lack of OFS overhang, strong top-line momentum, and fair peer-aligned valuation, we assign a SUBSCRIBE rating. This issue is well-suited for SME investors seeking exposure to the tech-enabled B2B services sector.

Disclaimer: The information provided above is for educational and informational purposes only and does not constitute financial advice. Initial Public Offerings (IPOs) carry market risks, and equity investments are subject to broader market fluctuations. Wealthova is not a SEBI-registered investment advisor. Always consult with a certified financial planner and conduct your own due diligence before locking up capital in any public issue.



Coreintegra Consulting Services IPO Key Contacts & Advisors

Role / Entity Contact & Details
📋 IPO Registrar Purva Sharegistry (India) Pvt.Ltd.
Website: purvashare.com
🏢 Company Contact Coreintegra Consulting Services Ltd.

Vinmar House, A-41 MIDC Road No 2, Marol, Andheri (East), Mumbai, Maharashtra, 400093

Phone: 022-69034100
💼 Merchant Bankers Marwadi Chandarana Intermediaries Brokers Pvt.Ltd.

Book Running Lead Manager



Frequently Asked Questions (FAQs)

What are the opening and closing dates for the Coreintegra Consulting Services IPO?
The Coreintegra Consulting Services Limited IPO opens for subscription on September 23, 2026, and closes on September 25, 2026. The basis of allotment will be finalized on September 28, 2026, with the official stock market listing scheduled on the NSE SME platform for September 30, 2026.
What is the minimum lot size and investment required for retail investors?
Individual (Retail) investors are required to apply for a minimum of 2 lots (3,200 shares). At the upper price band of ₹78 per share, the minimum retail investment required is ₹2,49,600. Small High Net Worth Individuals (S-HNI) must apply for a minimum of 3 lots (4,800 shares), amounting to ₹3,74,400.
How can I check the allotment status for the Coreintegra Consulting Services IPO?
You can check your Coreintegra Consulting Services IPO allotment status online starting September 28, 2026, using any of the following portals:
  1. Wealthova (Recommended): Check directly on the Wealthova IPO Allotment Status Hub using your PAN number or Application Number for real-time verification.
  2. Official Registrar Portal: Visit the official allotment page of Purva Sharegistry (India) Pvt.Ltd..
  3. Stock Exchange Portal: Verify directly on the official NSE IPO allotment status page.
Where will the Coreintegra Consulting Services IPO be listed?
Coreintegra Consulting Services Limited is an SME public issue, and its equity shares will list exclusively on the NSE SME platform on September 30, 2026.
What is the total issue size and price band for the IPO?
The total issue size is ₹21.99 Crore, consisting entirely of a Fresh Issue of 28.19 lakh equity shares with absolutely no Offer for Sale (OFS) component. It is a book-built issue with a price band set between ₹74 to ₹78 per equity share (Face Value: ₹10).
Who is the registrar and lead manager for this public issue?
Purva Sharegistry (India) Pvt.Ltd. is acting as the official IPO Registrar. The Book Running Lead Manager for the offering is Marwadi Chandarana Intermediaries Brokers Pvt.Ltd.