Coreintegra Consulting
What they do: The company operates with a focus on revenue growth and profitability, maintaining a strong asset base and efficient cost management.
By IPO Milega Research · Published
The company has shown strong revenue growth with a CAGR of 3.5% over the past three years.
- GMP (unofficial)
- +0%
- ₹0 a share
- Subscribed
- 1.4x
- Total
- Retail odds
- 71%
- 1 in 1.4
GMP is an unofficial grey market indication.
- Price band
- ₹74-78
- Lot size
- 3200 shares
- Min. investment
- ₹2,49,600
- Issue size
- 21.99 Cr.
- Open23 Sept 2026
- Close25 Sept 2026
- Allotment28 Sept 2026
- Listing30 Sept 2026
Overview
Estimated from the current subscription figures. Tap a category to work it out for your application size.
- QIB
- 1.05x
- NII
- 1.46x
- Retail
- 1.41x
₹78 (+0.00%)
GMP trend
Unofficial grey market quotes, times in IST
Outer ring: estimated gain
How the score adds up
The overall score is the average of these five, nudged by QIB demand once bidding closes.
- Financials7.0
- Performance8.0
- Flexibility8.0
- Timing6.0
- Risk4.0
The approximate gains potential is based on the company's strong fundamentals, including a robust revenue growth with a CAGR of 18.58%, a diversified client base, and innovative HR technology offerings. However, the absence of GMP data limits the precision of this estimate. The company's strategic positioning in a growing HR and compliance market and its asset-light model further support potential gains, despite the risks associated with high customer concentration and financial liabilities.
Strengths4
- Achieved a revenue of ₹51,514.78 lakhs in Fiscal 2026.
- Maintained long-term relationships with top 10 clients for over three years.
- Received multiple awards for innovative HR technology.
- Holds ISO/IEC 27001:2022 and ISO 9001:2015 certifications for data security.
Concerns5
- Heavy reliance on a few key customers, with 89.31% revenue concentration.
- Ongoing legal proceedings with contingent liabilities of ₹22.61 Lakhs.
- High employee turnover with a 54% attrition rate.
- Significant financial liabilities related to statutory dues and delayed payments.
- Negative cash flows in operating activities for FY 2026.
Who gets shares
- QIB50%
- NII15%
- Retail35%
- Retail Minimum2,49,6002 lots, 3200 shares
- Retail Maximum2,49,6002 lots, 3200 shares
- S-HNI Minimum3,74,4003 lots, 4800 shares
- S-HNI Maximum9,98,4008 lots, 12800 shares
- B-HNI Minimum11,23,2009 lots, 14400 shares
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 3200 | 2,49,600 |
| Retail Maximum | 2 | 3200 | 2,49,600 |
| S-HNI Minimum | 3 | 4800 | 3,74,400 |
| S-HNI Maximum | 8 | 12800 | 9,98,400 |
| B-HNI Minimum | 9 | 14400 | 11,23,200 |
Timing
6.0/10The timing appears moderately favorable, with strategic decisions reflecting a careful approach to market conditions. The absence of anchor investors and the option for early closure for QIBs may indicate a conservative stance, possibly due to anticipated market fluctuations or specific investor dynamics.
- Time to market
- The IPO's timing on the NSE Emerge platform suggests a focus on smaller, growth-oriented companies, which may be advantageous in a stable or slightly bullish market. However, the lack of anchor investors and the option for early closure for QIBs could reflect concerns about market stability or investor appetite, suggesting a cautious approach.
- How allotment works
- Basis of allotment finalized and shares credited to demat
- Market timing
- Neutral
- Time to market
- 5.0
- Listing on
- NSE SME
Key milestones
- 23 Sept 2026IPO Opens
- 25 Sept 2026IPO Closes
- 28 Sept 2026Basis of Allotment
- 29 Sept 2026Refunds Initiated
- 29 Sept 2026Credit to Demat Account
- 30 Sept 2026Listing Date
Financials
7.0/10- Revenue
- ₹516 Cr
- +27.7%
- Profit after tax
- ₹4.51 Cr
- +30.3%
- Net margin
- 0.9%
- +0.0 pts
- Assets
- ₹68.51 Cr
- +20.6%
- Return on equity
- 16.5
- Debt to equity
- [.]
- Current ratio
- 1.13
- Revenue CAGR
- 3.5%
- ROCE
- 20.19%
- Return on net worth
- 16.46%
- NAV per share (₹)
- 35.74
Financial performance trend
Amount ₹ in croresThe company has shown strong revenue growth with a CAGR of 3.5% over the past three years. Profitability is robust with a consistent increase in net profit and a healthy profit margin of 7.4%. The balance sheet reflects a solid asset base with no short-term borrowings, indicating good liquidity management. However, the debt-to-equity ratio is not calculable due to the absence of long-term debt, which could imply limited leverage or potential underutilization of debt financing.
Risk
4.0/10Read this score as a safety rating: 10/10 means the lowest risk, 1/10 the highest.
Where the risks sit
- Financial risks3
- Market risks1
- Operational risks2
- Regulatory risks1
Coreintegra faces high customer concentration, legal liabilities, and financial instability, posing significant risks to its operations and growth.
How the company offsets these
Diversifying customer base and securing alternative financing could mitigate risks.
Financial risks3
- Significant financial liabilities related to statutory dues.
- Negative cash flows in operating activities.
- Potential defaults by customers affecting cash flows.
Market risks1
- Heavy reliance on a few key customers.
Operational risks2
- High employee turnover with a 54% attrition rate.
- Vulnerability to cybersecurity threats.
Regulatory risks1
- Ongoing legal proceedings with contingent liabilities.
Performance
8.0/10Coreintegra Consulting Services Limited is an integrated HR solutions provider with a strong focus on staffing, payroll outsourcing, and compliance services. The company has demonstrated robust growth with a CAGR of 18.58% from Fiscal 2024 to 2026, reaching a revenue of ₹51,514.78 lakhs in Fiscal 2026. It operates an asset-light model, serving over 600 clients across 30 industries, and maintains long-term relationships with its top clients. The company is recognized for its innovative HR technology and holds significant data security certifications.
- Historical growth
- The company achieved a CAGR of 18.58% from Fiscal 2024 to 2026., 18.58%
- Market comparison
- Coreintegra operates in a fragmented market dominated by staffing-heavy players. It differentiates itself by offering integrated HR solutions, including compliance and HR-Tech, which are underserved areas in the market.
- Future potential
- The company is well-positioned to capture growth in the HR and compliance services market, projected to grow at a CAGR of 13.8% between FY25 and FY30.
- Operational consistency
- The company has shown consistent revenue growth and maintained long-term client relationships, indicating operational stability.
- Experience
- The promoters, Sriram Natarajan, Sangeetha Sriram, and Gaurav Bali, collectively hold significant shares and have not been involved in other ventures.
- Track record
- The promoters have maintained a stable leadership without any regulatory issues or defaults.
Key achievements
- 01Achieved a revenue of ₹51,514.78 lakhs in Fiscal 2026.
- 02Maintained long-term relationships with top 10 clients for over three years.
- 03Received multiple awards for innovative HR technology.
- 04Holds ISO/IEC 27001:2022 and ISO 9001:2015 certifications for data security.
Flexibility
8.0/10The company serves over 600 customers across 30 industries and 23 states, indicating strong market adaptability. Its technology platforms cater to diverse client needs, enhancing its ability to adapt to market changes.
The company has shown consistent revenue growth with a CAGR of 18.58% from Fiscal 2024 to 2026. However, its EBITDA and PAT margins are relatively low, which could impact long-term financial stability.
Coreintegra operates an asset-light model, allowing for scalability and flexibility in operations. Its technology platforms streamline HR processes, enhancing operational efficiency.
Coreintegra Consulting Services Limited demonstrates significant flexibility and adaptability through its integrated HR solutions, technology-driven platforms, and asset-light business model. The company has shown strong revenue growth and maintains a diversified client base across multiple industries and geographies.
- Product diversification
- The company offers a wide range of HR services, including staffing, payroll outsourcing, compliance, and HR-Tech solutions, under five key verticals.
- Future adaptability
- The company's focus on technology and compliance positions it well to adapt to future regulatory changes and market demands. Its ongoing investment in technology and leadership expansion supports future adaptability.
The data on this page has been reviewed manually by the IPO Milega research team. It is not investment advice, and IPO Milega accepts no responsibility for losses arising from any investment decision. Investments in the securities market are subject to market risks. Read all the related documents, including the full prospectus, carefully before investing.