Coreintegra Consulting Services IPO closed Day 1 with a sluggish overall subscription of 0.11x. While the total issue remained largely unsubscribed, Retail investors doubled their demand to 0.02x, and QIBs maintained interest at 1.05x.

Subscription Status

The Coreintegra Consulting Services IPO witnessed minimal participation on its opening day, September 23, 2026. The overall subscription stood at 0.11x by the end of the day. The most notable movement was in the Retail category, which saw its subscription rate double from 0.01x to 0.02x during the trading hours. Institutional investors remained the primary source of demand, although their subscription rate held steady at 1.05x throughout the day. Non-Institutional Investors (NII), including both Small and Big HNIs, recorded no significant uptake, remaining at 0.00x.

Intra-day Timeline

Retail demand picked up pace in the afternoon session, doubling from 0.01x at 12:15 IST to 0.02x by 13:15 IST. Institutional demand remained flat, and NII participation stayed negligible across all snapshots.

Category-wise Breakdown

Qualified Institutional Buyers (QIB): The institutional segment was the sole driver of demand, subscribing 1.05x of its reserved quota. This indicates selective institutional confidence despite the broader lack of enthusiasm in other categories.

Retail Individual Investors: Retail participation remained low but showed relative momentum compared to other segments. The category subscribed 0.02x of its quota, doubling from the mid-day figure of 0.01x.

Non-Institutional Buyers (NII): Both Small HNIs (sHNI) and Big HNIs (bHNI) recorded 0.00x subscription, indicating a complete absence of high-net-worth individual interest on Day 1.

Employees: The employee reservation category remained unsubscribed at 0.00x.

Offer Details

The Coreintegra Consulting Services IPO is priced between ₹74.00 and ₹78.00 per share. The minimum bid quantity is set at 3200 shares. The issue size ranges from ₹3,55,200 crore to ₹5,00,000 crore based on the price band.

• Price Band: ₹74.00 - ₹78.00
• Issue Size: ₹3,55,200 crore - ₹5,00,000 crore
• Minimum Bid Qty: 3200 shares
• Open Date: 2026-09-23
• Close Date: 2026-09-25

About the Company

Core Integra Consulting Services Limited is an integrated HR solutions provider offering staffing, payroll outsourcing, labour law compliance, and proprietary HR-Tech solutions. The company operates across five verticals: HR Services, Vendor Management Services, Compliance & Advisory, Reg Tech, and HR Tech Solutions. It serves over 600 clients across 30+ industries in 23 states and 4 union territories. Its proprietary platforms include CoreX, Core Pay, Ctrl-F, and Core PFT.

Financial Highlights

The company reported steady revenue growth over the last three financial years, although profit margins remained thin.

Risk Factors

Key risks disclosed in the offer documents include:

1. High Customer Concentration: The top five customers contributed approximately 89.31% of revenues in FY2026, with the largest single customer accounting for over 53%.
2. Manpower Attrition: The company faces a significant attrition rate of 54% in FY2026, up from 42% in previous years.
3. Industry Concentration: Approximately 90.91% of revenue from operations in FY2026 came from IT/ITES and Infrastructure industries.
4. Statutory Dues Delays: The company has a history of delays in payment of statutory dues including EPF and Labour Welfare Fund, with delays extending up to 1,692 days in some cases.

What's Next

The Coreintegra Consulting Services IPO closes for subscription on September 25, 2026. Allotment is expected to be finalized by September 28, 2026, with shares listed on stock exchanges on September 30, 2026.