About IRIS Business Services Limited

IRIS Business Services Limited is an India-based regulatory technology company incorporated in 2000, with operations commencing in 2004. The company builds SaaS and data products that simplify regulatory reporting and compliance for both regulators and enterprises, leveraging global data standards such as XBRL and SDMX to improve data quality, comparability, and oversight across markets. Its offerings are structured across four operating lines—SupTech, RegTech, DataTech and, until recently, TaxTech—giving customers clarity in selection and solution design.

Headquartered in Navi Mumbai, IRIS has five subsidiaries and a footprint spanning 55 countries across five continents. The company’s international subsidiaries are in the US, Singapore, Malaysia and Italy, and it conducts business in the UK under the FinX Solutions brand. The consolidated group comprises five subsidiaries as of March 31, 2025. IRIS supports more than 30 regulatory authorities globally, and millions of filings have been processed through its platforms, reflecting its depth in supervisory and reporting ecosystems.

Key products include:

• SupTech: End-to-end regulatory data ecosystems—taxonomy design, filing portals, validation engines, analytics and risk modules—to help regulators transition to digital supervision.
• RegTech: IRIS CARBON (collaborative disclosure and regulatory reporting platform) and IRIS iDEAL (on-premise automated data flow engine for BFSI reporting) support enterprises and financial institutions in meeting mandates efficiently and at scale.
• DataTech: Data collection, management and analytics solutions aimed at improving information quality across stakeholders.

Milestones and reach include listing on the main boards of NSE and BSE on November 8, 2021, a growing order book (around Rs 120 crore as on March 31, 2025), and annual recurring revenue of Rs 70.73 crore, with recurring revenues contributing 55% during the year under review. The company’s marquee regulatory clients span central banks, business registries, capital market authorities and stock exchanges across the Middle East, Africa, Asia and Europe.

IRIS Business Services Limited Business Segments
Revenue mix by geography (FY 2024–25):

• India: 30%
• Middle East: 7%
• Asia-Pacific: 7%
• Africa: 35%
• USA: 6%
• Europe & UK: 15%

IRIS Business Services Limited Key Management

• Balachandran Krishnan – Chief Executive Officer
• Deepta Rangarajan – Whole Time Director
• P. K. X. Thomas – Whole Time Director & CTO
• Vineet Kandoi – Chief Financial Officer
• Santoshkumar Sharma – Company Secretary & Compliance Officer
• Vinod Agarwala – Independent Director and Chairman of the Company

Latest Updates on IRIS Business Services Limited

• A key supervisory milestone was achieved with the successful implementation of Phase 1 of the Deposit Insurance System for the South African Reserve Bank, part of a multi-year supervisory ecosystem rollout.
• New regulator mandates were secured, including project awards from the Pension Fund Regulatory and Development Authority (PFRDA) in India and, in April 2025, from the Qatar Central Bank.
• IRIS upgraded its regulatory reporting platform iFile to a modern technology stack and expanded use cases to deposit insurance and pension fund reporting; it also launched IRIS Instant, an AI tool that extracts data from documents to populate XBRL filings, reducing preparation time.
• In RegTech, geographic coverage for XBRL/iXBRL widened across Europe, the UK and the US; the company continued to enhance IRIS CARBON and IRIS iDEAL with localised requirements in 35 countries.
• The company completed a preferential issue of Rs 20 crore during the year to fund sales, marketing and product development investments.
• In TaxTech, Malaysia e-invoicing went live with over 50 clients, and new GST modules were introduced in India (litigation management, accounts payable automation, and CFO dashboards).

Strategic simplification: On July 2, 2025, IRIS entered into an agreement to divest its Tax Technology (GST ASP) business to Sovos, UK, for Rs 151.24 crore, sharpening focus on global SupTech and RegTech opportunities (subject to approvals and customary closing).