Core Integra Consulting IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 1.05x |
| NII | 1.46x |
| sNII (₹2L–₹10L) | 2.14x |
| bNII (above ₹10L) | 1.12x |
| Retail (RII) | 1.42x |
| Total | 1.4x |
Bidding day 3 · final figures at close of bidding: 30 Sept 2026, 6:30 pm IST
IPO Details
- Open Date
- 23 Sept 2026
- Close Date
- 25 Sept 2026
- Listing Date
- 30 Sept 2026
- Face Value
- ₹10
- Fresh Issue
- ₹20.88 Cr
- OFS
- ₹0 Cr
- Listing On
- NSE
- Registrar
- Purva Sharegistry
The fresh issue is money for the company; the OFS goes to selling shareholders. Fresh issue vs offer for sale, explained
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹2,49,600 |
| HNI (Min) | 3 | 4,800 | ₹3,74,400 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| QIB (ex-anchor) | 2,67,200 | 9.98% |
| NII | 12,03,200 | 44.95% |
| — sNII (< ₹10L) | 4,01,600 | 15% |
| — bNII (> ₹10L) | 8,01,600 | 29.95% |
| Retail | 12,06,400 | 45.07% |
| Total | 26,76,800 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | EPS (₹) |
|---|---|---|---|---|---|---|
| FY 2024 | 368.44 | 4.94 | 5.81 | 19.43 | 49.96 | — |
| FY 2025 | 404.39 | 3.46 | 4.2 | 22.89 | 56.8 | — |
| FY 2026 | 516.3 | 4.51 | 6.01 | 27.41 | 68.51 | 5.88 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 13.27x
- P/E (post-issue)
- 18.14x
- RoE
- 17.94%
- RoCE
- 20.19%
- EPS (pre-issue)
- ₹5.88
- EPS (post-issue)
- ₹4.3
- EBITDA Margin
- 1.17%
- PAT Margin
- 0.87%
- P/BV
- 0.01x
- NAV / share
- ₹35.74
- Market Cap
- ₹81.8 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Capital expenditure towards upgrading the existing IT infrastructure | ₹11.76 Cr |
| Augmenting Leadership Team for the Company | ₹5.75 Cr |
| Enhancing the visibility and awareness of the brand | ₹0.5 Cr |
| General corporate purposes | ₹1.76 Cr |
| Issue Expenses | ₹2.22 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Book Running Lead Manager fees [including underwriting] as applicable | ₹1.1 Cr |
| Brokerage, selling commission and other uploading fees | ₹0.2 Cr |
| Fees payable to Registrar to the Offer | ₹0.02 Cr |
| Fees to the legal advisor, audit / chartered accountant fees | ₹0.2 Cr |
| Advertising and marketing Expenses | ₹0.5 Cr |
| Printing and distribution expenses | ₹0.01 Cr |
| Miscellaneous including fees payable to Stock Exchange, Depository, market research firms and other professional agencies | ₹0.2 Cr |
Promoters & Shareholding
Promoters: <p>Sriram Natarajan, Sangeetha Sriram, Gaurav Bali</p>
- Holding (pre-issue)
- 93.04%
- Holding (post-issue)
- 68.03%
- Dilution
- 25.01%
Documents
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Coreintegra Consulting Services | 5.88 | 35.74 | — | 16.46% | — | Restated |
| Quess Corp | 14.85 | 78.11 | 87.67x | 19.05% | 3.45x | Consolidated |
| Team Lease Services | 83.3 | 622.12 | 28.04x | 13.55% | 2.92x | Consolidated |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Listing Performance
About the Core Integra Consulting IPO
The Core Integra Consulting SME IPO opens for subscription on 23 Sept 2026 and closes on 25 Sept 2026, offered at a price band of ₹74–78 per share, and is set to list on NSE. In total, the issue aims to mobilise ₹21.99 crore. Retail investors bid in lots of 1600 shares, a minimum application of ₹2,49,600.
Issue structure
The IPO is structured entirely as a fresh issue of ₹20.88 crore, so the full proceeds flow to the company to fund its stated objects of the issue.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward capital expenditure towards upgrading the existing it infrastructure (₹11.76 crore), alongside augmenting leadership team for the company (₹5.75 crore). In all, 5 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Core Integra Consulting reported revenue of ₹516.3 crore and a net profit of ₹4.51 crore. Revenue grew from ₹368.44 crore in FY2024 to ₹516.3 crore in FY2026 (+40.0%). Net worth stood at ₹27.41 crore at the end of FY2026. At the upper band, that puts the issue at roughly 13.3× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 18.14× post-issue earnings and 0.01× book value. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Quess Corp and Team Lease Services, with a median peer P/E of about 57.9×. The issue's own post-issue P/E works out to 18.14×.
Promoters
The promoters of the company are <p>Sriram Natarajan, Sangeetha Sriram, Gaurav Bali</p>. Promoter holding stands at 93.04% before the issue and comes down to 68.03% after listing.
Grey market premium (GMP)
In the unofficial grey market, Core Integra Consulting shares are quoted at a premium of ₹0 implying an expected listing around ₹78, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Core Integra Consulting IPO was subscribed 1.4 times overall. The strongest demand came from non-institutional investors (NII) at 1.46 times, with qualified institutional buyers (QIB) at 1.05× and retail investors at 1.42×.
Listing performance
Core Integra Consulting listed on 30 Sept 2026 at ₹78.1, a premium of +0.1% over the issue price of ₹78.
What to weigh
When evaluating the Core Integra Consulting IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Core Integra Consulting
Incorporated in 2009, Core Integra Consulting Services Limited is an integrated human resource solutions provider offering staffing, payroll outsourcing, labour law compliance, HR advisory, vendor management, and proprietary HR-Tech and Reg Tech platforms under one umbrella. The company operates across five verticals: HR Services, Vendor Management, Compliance & Advisory, Reg Tech, and HR Tech Solutions. Its proprietary platforms include CoreX and Core Pay (HR Tech) and Ctrl-F and Core-PFT (Reg Tech). Between Fiscal 2023 and 2025, Core Integra served 500+ customers across 30+ industries and 1,500+ client locations in 20 states, supported by 7 branch offices. Headquartered in Mumbai, Core Integra also operates regional offices in Pune, Solapur, Bangalore, Chennai, Delhi, and Kolkata, reinforcing its Pan-India presence. In Fiscal 2025, the company served 384 customers, with 6 of its top 10 customers associated for more than 3 years. As of July 31, 2025, the company had 243 skilled employees.
Core Integra Consulting — Contact Details
- Registered office
- Vinmar House, A-41 MIDC Road No 2, Marol, Andheri (East), Mumbai, Maharashtra, 400093
- Phone
- 022-69034100
- Website
- www.coreintegra.com/
- Registrar (IPO queries)
- newissue@purvashare.com
Frequently asked questions
- What is the Core Integra Consulting IPO price band?
- The Core Integra Consulting IPO price band is ₹74 to ₹78 per share, with a lot size of 1600 shares.
- What was the Core Integra Consulting IPO GMP before listing?
- The final grey market premium recorded before the Core Integra Consulting IPO listed was ₹0. The IPO listed on 30 Sept 2026 at ₹78.1, +0.1% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Core Integra Consulting IPO open and close?
- The Core Integra Consulting IPO opens on 23 Sept 2026 and closes on 25 Sept 2026.
- When is the Core Integra Consulting IPO allotment and listing date?
- Allotment is expected on 28 Sept 2026. The shares are scheduled to list on 30 Sept 2026 on NSE.
- How many times was the Core Integra Consulting IPO subscribed?
- The Core Integra Consulting IPO was subscribed 1.4 times in total across all investor categories.
- What is the reservation split in the Core Integra Consulting IPO?
- Of the total shares offered, retail investors get 45.07%, QIBs 9.98%, non-institutional investors 44.95%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Core Integra Consulting and what is their holding?
- The promoters are <p>Sriram Natarajan, Sangeetha Sriram, Gaurav Bali</p>. Promoter holding is 93.04% before the issue and 68.03% after listing.
- What is the P/E ratio of the Core Integra Consulting IPO?
- At the upper price band, the Core Integra Consulting IPO is valued at 13.27× pre-issue earnings and 18.14× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Core Integra Consulting IPO?
- The net proceeds go primarily toward capital expenditure towards upgrading the existing it infrastructure, among 5 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Core Integra Consulting IPO?
- The book-running lead manager is Marwadi Chandarana Intermediaries Brokers Pvt.Ltd.. Purva Sharegistry is the registrar to the issue.
- Is Core Integra Consulting a Mainboard or SME IPO?
- Core Integra Consulting is an SME IPO, listing on NSE (SME platform).