IRIS Business Services Ltd IPO (IRIS Business IPO) Detail

Sep 29, 2017 - Oct 4, 2017

Incorporated in 2000, IRIS Business Services Limited engaged in providing software products, services and solutions for compliance, data, and analytics worldwide. They offers IRIS iDEAL- a regulation reporting application 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 helps companies and mutual funds to meet their enterprise reporting needs.

They serves enterprises, business registers, central banks, stock exchanges, BFSI organizations and governments. They also provide solutions to the regulated, including corporates, Banks, Mutual Funds. They are operating in the domestic as well as overseas markets.

The company also provides IRIS Data Consumption Platform, a structured data repository to access financial and non-financial data of public and private companies; IRIS FinX - an integrated consolidation application which enables end to end financial reporting by extracting data from source ERP systems, multiple databases, or spreadsheets; and IRIS GST - an application to file GST as well as XBRL conversion, consulting and training services.

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 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 Size5,004,000 shares
(aggregating up to ₹16.01 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME

IRIS Business IPO Reservation

IRIS Business IPO Lot Size

The IRIS Business IPO lot size is 4000 shares.

Application Lots Shares Amount
Retail (Min) 1 4000 ₹136,000
Retail (Max) 1 4000 ₹136,000
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IRIS Business IPO Review (Avoid)

[Dilip Davda]  Highly priced issue with negative earnings may be given a miss. Read detail review...

IRIS Business IPO Subscription Status (Bidding Detail)

The IRIS Business IPO is subscribed times on Oct 4, 2017 5:00:00 PM. The public issue subscribed times in the retail category, times in the QIB category, and times in the NII category. Check Day by Day Subscription Details (Live Status)

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IRIS Business IPO Prospectus

IRIS Business IPO Rating

Rating:Rated 3.9 stars
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IRIS Business IPO Listing Details

Listing Date Oct 11, 2017
BSE Script Code 540735
ISIN INE864K01010
IPO Price ₹34 per share

Listing Day Trading Information

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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 Analysis

IRIS Business IPO Recommendation Summary

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IRIS Business IPO FAQs

IRIS Business IPO is a SME IPO of 5,004,000 equity shares of the face value of ₹10 aggregating up to ₹16.01 Crores. The issue is priced at ₹34 per share. The minimum order quantity is 4000 Shares.

The IPO opens on Sep 29, 2017, and closes on Oct 4, 2017.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

The IRIS Business IPO opens on Sep 29, 2017 and closes on Oct 4, 2017.

IRIS Business IPO lot size is 4000 Shares and the minimum order quantity is .

You can apply in IRIS Business IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for IRIS Business IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the IRIS Business IPO allotment status.

The IRIS Business IPO listing date is on Oct 11, 2017.
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IRIS Business IPO Message Board

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15. Ankit Jain |   Link |Nov 27, 2017 11:19:01 AM
Mr Swaminathan Sir,
Can you please give update on date of results of IRIS coming out?
14. Aditya Goel |   Link |Nov 11, 2017 10:20:02 PM
Thanks to Mr. Swaminathan for actively participating and answering to queries here.

There is sharp increase in pricing within week of Listing in your company''s stock. Can you guide us, Whats the future strategy and How is the movement of stock expected ?
13. Harish M |   Link |Oct 30, 2017 2:23:43 PM
Hello Sir,

Your company is awesome because of the product range you have and the potential it has for the future. I am however skeptical about your loan book which is around 19.6Cr. As per your prospectus, you have only replayed 3Cr which means you will still continue to carry more than 16Cr dept.

Now, How soon do you think you can turnaround to the situation and start producing profits? How long it may take? do you have an idea for me?
12. Brahmachari Sukdev |   Link |Oct 28, 2017 1:08:49 AM
Though the IPO episode has passed and the script is doing very successfully, I am here for Mr Swaminathan, the CEO of the IRIS B S. Simply You own our heart! May Sri Sri Guru Maharajji showers all of his blessings on you n your esteemed Co.
I am 200% sure IRIS B S will be a scintillating star in the galaxy of Indian Industries.
Love n Blessings as you are Younger to me.
11. RKos |   Link |Oct 16, 2017 12:43:36 PM
Best Broker For Trading in SME?
10. ejoker |   Link |Oct 9, 2017 6:31:50 PM
Allotment out
Check from below link.

9. Rajesh Kerai |   Link |Oct 7, 2017 8:30:23 AM
Mr. Swaminathan ,

Please give update on Listing date and allotment date ......

9.1. swaminathan |   Link |Oct 7, 2017 8:35:17 AM

Listing on oct 11, Reg allotment date, i need to find out.
8. IpoView |   Link |Oct 5, 2017 5:15:59 PM

Great to see you in this forum that shows how you serve customer. However I missed this SME IPO but happy to see your response.

8.1. swaminathan |   Link |Oct 7, 2017 8:33:07 AM
Thank you, You could always become a shareholder through a secondary market purchase. i would welcome an opportunity to invite you to the IRIS family
7. Vinay K |   Link |Oct 3, 2017 5:47:39 PM
Interesting Company. Seems like, if someone has patience and understand what the Company is trying to do to turn profitable, one can consider investing for the long haul if convinced.

I have a few questions:
1) Why is the revenues dropping YOY consistently?
2) When will the product business turn profitable?
3) While is the Company demanding the premium of 22 Rs., when it does''nt have any profits to show in the near future?
7.3. swaminathan |   Link |Oct 4, 2017 6:24:12 AM
1. We saw that the way forward was automation. So the question was this: should we give up the services business when we are on top or should we wait for the market to walk away from us. I am glad that we exited that business when we did, else we would have been in the mortuary by now.
2. Could we have held on to the services business through the phase of product development? Probably not. Product development would have suffered. All of the domain experts were needed for the product development. Unless we hired more folks which was not going to work out as the knowledge needed was pretty niche and had been gathered by my existing colleagues over years.

7.4. Vinay K |   Link |Oct 4, 2017 9:36:36 AM
Thank you for detailed response.
6. IPO Researcher |   Link |Oct 2, 2017 12:03:09 PM
Investor link on their website is not working.
6.1. swaminathan |   Link |Oct 2, 2017 9:17:14 PM
I am the CEO of IRIS. I thank you for bringing this to our attention. We will have it fixed asap. Once again my apologies for any inconvenience caused to you on this score.
6.2. swaminathan |   Link |Oct 3, 2017 7:48:10 PM
I am assured that it will work start working soon. The relevant folks are caught up in the IPO as you can imagine.
5. CA Shrenik Kotak |   Link |Oct 3, 2017 7:36:53 PM
Not related to IPO but I have worked with IRIS when I was with Grant Thornton. They believe in customer satisfaction which is of utmost importance and I liked the spirit of team to help the client. All the best.
5.1. swaminathan |   Link |Oct 3, 2017 7:44:49 PM
Thank you Shrenik for your kind words. We value customer endorsements hugely, I cannot quite thank you enough.
4. Riaz Khatri |   Link |Oct 2, 2017 5:23:10 PM
This company may list at a lower price, but may go up after listing, see the profits of previous years. This is no ordinary company. Oversubscription will be limited and chances of allotment will be better. Shares may be mopped up by interested parties. The software which this company makes is used by Big Broking houses, Capital Market regulators around the world, Last but not the least it is Lead Managed by PANTOMATH.

Hence I will apply in small quantity and may buy more on listing seeing the oversubscription figures.

May be I may be wrong

You all may invest at your own risk
4.2. Gopinath R |   Link |Oct 3, 2017 6:49:35 PM
Could u help in clearing my doubt? . Minimum we should buy 4000 shares. That means we need 1,36,000. You mentioned as you would buy minimum quantity. That means can u buy less than 4000 shares. Is it possible
4.3. swaminathan |   Link |Oct 3, 2017 7:37:48 PM
One small correction if I may. The issue price is Rs 32, and the market lot is 4000 shares. So the minimum investment amount is Rs 1.28 lakh. one has to buy in lots of 4000 shares,
3. Aniket Desale |   Link |Oct 3, 2017 11:41:32 AM
Respected Sir,

Wish You All The Best for your bright future. Sir, each time we face our failure, we gain strength, courage & confidence in doing it. I just read your responses to your shareholder, that was just superb. You have shown all, strength, courage & confidence. I believe you have a great success in future, so JUST DO IT IN YOUR WAY.

I am also a youngest entrepreneur and facing the same situation in small amounts than you. But i still not have loosen my confidence any more. Because Hardwork doesn''t guarantee success, but it improves chances.
3.1. swaminathan |   Link |Oct 3, 2017 4:09:04 PM
Thank you for your kind words and your insightful observation. Wish you all the very best in your entreprenurial journey.
2. NPP |   Link |Sep 29, 2017 6:20:22 PM
Applicant will sure get allotment ,
No one is interested to put money in loss making company ,
Avoid ........
2.1. swaminathan |   Link |Oct 2, 2017 9:23:30 PM
I am the CEO of IRIS. Yes we have been posting losses in recent years. But as you can imagine, no company wants to be in this position and like every company,, we too aspire to improve our performance in a manner that you will approve of.
1. IPO Researcher |   Link |Oct 2, 2017 12:14:58 PM
Their website link is http://www.irisbusiness.com/ you can see investor link down in bottom