IRIS Business Services Limited, established in 2000, is a global provider of software products, services, and solutions for compliance, data, and analytics. The company offers a range of innovative products, including IRIS iDEAL, a regulation reporting application designed for banks and financial institutions, IRIS iFILE, an end-to-end data filing platform for regulators, and IRIS CARBON, a cloud-based filing platform that assists companies and mutual funds in meeting their enterprise reporting requirements. They serve enterprises, business registers, central banks, stock exchanges, BFSI organizations, and governments, both domestically and overseas.
In addition to their software products, IRIS Business Services Limited also provides several other solutions, such as the IRIS Data Consumption Platform, which is a structured data repository that enables access to financial and non-financial data of public and private companies. The company’s IRIS FinX is an integrated consolidation application that facilitates end-to-end financial reporting by extracting data from source ERP systems, multiple databases, or spreadsheets. They also offer IRIS GST, an application that assists in filing GST, XBRL conversion, consulting, and training services. IRIS Business Services Limited caters to a wide range of clients, including corporates, banks, mutual funds, and other regulated entities.
IRIS Business IPO Details
| IPO Date | Sep 29, 2017 to Oct 4, 2017 |
| Listing Date | Oct 11, 2017 |
| Face Value | ₹10 per share |
| Price | ₹34 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 5,004,000 shares (aggregating up to ₹16.01 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
IRIS Business IPO Listing Details
| Listing Date | Oct 11, 2017 |
| BSE Script Code | 540735 |
| NSE Symbol | IRIS |
| ISIN | INE864K01010 |
| Final Issue Price | ₹34 per share |
Industry Overview
The regulatory compliance and reporting industry is a rapidly growing sector, driven by a range of factors such as globalization, increasing regulatory oversight, and technological advancements. The industry is characterized by the need for accurate and timely reporting across various sectors, including banking, finance, healthcare, and others.
The Indian regulatory compliance and reporting industry is expected to grow at a compound annual growth rate (CAGR) of 20% over the next few years, driven by the implementation of new regulations, increasing demand for compliance solutions, and the growing adoption of cloud-based technologies. This growth is expected to be particularly strong in sectors such as banking, financial services, and insurance, where regulatory compliance is a critical aspect of operations.
Company Financials
| IRIS Business Services’ financial performance (in INR crore) | ||||||
| FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | ||
| Total revenue | 62.9 | 67.7 | 55.7 | 32.8 | 27.3 | |
| Total expenses | 50.9 | 55.7 | 52.4 | 40.7 | 37.5 | |
| Profit after tax | 7.0 | 8.0 | 3.4 | 6.7 | -9.0 | |
Objects of the Issue
The object of the issue are:
1. Repayment of debt
2. Sales & Marketing
3. Expenditure on Product Development
4. General Corporate Purpose
IRIS Business IPO Prospectus
Company Contact Information
IRIS Business Services Ltd
T-131 Tower 1 3rd Floor Vashi,
International Infotech Park,
Navi Mumbai – 400703
Phone: 022 6723 1000
Email: cs@irisindia.net
Website: http://www.irisbusiness.com
IRIS Business IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: irisbusiness.ipo@linkintime.co.in
Website: https://linkintime.co.in/
IRIS Business IPO Lead Manager(s)
- Pantomath Capital Advisors Pvt Ltd (Past IPO Performance)
