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IRIS RegTech Solutions Limited has successfully completed the incorporation of its wholly owned subsidiary, IRIS Data Solutions Private Limited.
IRIS RegTech Solutions incorporated IRIS Data Solutions Private Limited as a wholly owned subsidiary on March 5, 2026.
KEY POINTS
The new subsidiary will focus on scaling the DataTech business and SaaS-based MSME solutions.
Exceptional gains of ₹13,598.67 lakhs were realized from the divestment of GST and IRIS Logix units.
Mr. Bhaswar Mukherjee was appointed Chairman, and Mr. Dixit Jasani appointed Chief Revenue Officer, in February 2026.
The board amended its disclosure code and reconstituted the Audit Committee in alignment with new SEBI rules.
IRIS RegTech Solutions Limited has successfully completed the incorporation of its wholly owned subsidiary, IRIS Data Solutions Private Limited, marking a significant milestone in the company's expansion strategy. The Ministry of Corporate Affairs, Government of India, issued the Certificate of Incorporation on March 05, 2026.
Subsidiary Incorporation Details
The newly incorporated subsidiary operates under the complete ownership of IRIS RegTech Solutions Limited and has been established in India. The incorporation follows the company's earlier disclosure dated February 14, 2026, when the board approved the formation of the wholly owned subsidiary.
Parameter: Details Company Name: IRIS Data Solutions Private Limited Incorporation Date: March 05, 2026 Corporate Identity Number: U62099MH2026PTC474090 Ownership Structure: Wholly Owned Subsidiary Parent Company: IRIS RegTech Solutions Limited
Corporate Compliance and Documentation
The company has fulfilled all regulatory requirements for the subsidiary incorporation process. IRIS RegTech Solutions submitted the intimation to both BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Certificate of Incorporation was digitally signed by Peeyush Dubey, Assistant Registrar of Companies, on behalf of the Central Registration Centre. The subsidiary has been assigned the registered address at T-2 Floor 3 International, Infotech Park Vashi, Sanpada, Thane, Maharashtra - 400703.
Additional Corporate Information
The Ministry of Corporate Affairs has also assigned essential tax identification numbers to the new subsidiary:
Tax Details: Information Permanent Account Number (PAN): AAIC17397B Tax Deduction Account Number (TAN): MUMI20332E Registration Authority: Central Registration Centre, Manesar
Strategic Implications
The establishment of IRIS Data Solutions Private Limited as a wholly owned subsidiary demonstrates IRIS RegTech Solutions' commitment to expanding its operational capabilities. The subsidiary structure allows the parent company to diversify its business operations while maintaining complete control over the new entity's strategic direction and operations.
Company Secretary and Compliance Officer Santoshkumar Sharma signed the regulatory disclosure, ensuring proper compliance with stock exchange notification requirements. The incorporation process reflects the company's systematic approach to corporate expansion and adherence to regulatory frameworks.
IRIS Business Services Limited announced its unaudited consolidated financial results for the quarter and nine months ended December 31, 2025, following a board meeting conducted on February 14, 2026. The company demonstrated strong operational performance across its business segments while implementing strategic organizational changes.
Financial Performance Overview
The company's consolidated financial results showed robust growth in its continuing operations. For Q3FY26, IRIS RegTech Solutions reported revenue from operations of ₹3,558.83 lakhs compared to ₹2,885.28 lakhs in Q3FY24, representing significant year-over-year growth.
Financial Metric: Q3FY26 Q3FY24 Nine Months FY26 Nine Months FY24 Revenue from Operations: ₹3,558.83 lakhs ₹2,885.28 lakhs ₹8,934.40 lakhs ₹7,993.63 lakhs Net Profit (Continuing Operations): ₹531.36 lakhs ₹371.45 lakhs ₹752.02 lakhs ₹1,027.72 lakhs Total Net Profit: ₹531.36 lakhs ₹359.36 lakhs ₹12,238.83 lakhs ₹1,037.04 lakhs Total Income: ₹3,839.49 lakhs ₹2,933.44 lakhs ₹9,557.31 lakhs ₹8,162.86 lakhs
Segment-wise Performance
The company's three primary business segments showed varied performance during the quarter. SupTech emerged as the largest revenue contributor, generating ₹2,109.74 lakhs in Q3FY26 compared to ₹1,579.82 lakhs in the previous year. RegTech segment contributed ₹1,305.65 lakhs, while the DataTech division recorded ₹44.33 lakhs in revenue.
Business Segment: Q3FY26 Revenue Q3FY24 Revenue Nine Months FY26 Nine Months FY24 SupTech: ₹2,109.74 lakhs ₹1,579.82 lakhs ₹5,394.25 lakhs ₹4,481.82 lakhs RegTech: ₹1,305.65 lakhs ₹1,169.13 lakhs ₹3,130.70 lakhs ₹3,129.60 lakhs DataTech: ₹44.33 lakhs ₹44.66 lakhs ₹132.64 lakhs ₹131.38 lakhs Others: ₹99.11 lakhs ₹91.67 lakhs ₹276.81 lakhs ₹250.83 lakhs
Strategic Corporate Decisions
The board approved several significant strategic initiatives during the meeting. A key decision involved the incorporation of a wholly owned subsidiary named IRIS Data Solutions Private Limited to house and scale the company's DataTech business. The subsidiary will be incorporated with an initial paid-up share capital of ₹1,00,000, comprising 10,000 equity shares of ₹10.00 each at par value.
Corporate Action: Details Subsidiary Name: IRIS Data Solutions Private Limited Initial Capital: ₹1,00,000 (10,000 shares at ₹10 each) Business Focus: DataTech / SaaS-based MSME solutions Ownership: 100% wholly owned subsidiary Location: Mumbai, Maharashtra, India
Leadership Changes and Appointments
The company implemented significant changes in its leadership structure. Mr. Bhaswar Mukherjee (DIN: 1654539), an Independent Director, was appointed as Chairman of the Board with effect from February 14, 2026. Mr. Mukherjee brings 34 years of experience from Hindustan Petroleum Corporation Limited, where he served as Director (Finance) and CFO.
Additionally, the board approved the appointment of Mr. Dixit Jasani as Chief Revenue Officer for the Enterprise Division, effective February 18, 2026. Mr. Jasani, designated as Senior Managerial Personnel, brings over 25 years of experience in enterprise technology and sales from organizations including HighRadius Technologies and Zycus Inc.
Operational Highlights
The company's employee benefits expense increased to ₹1,791.90 lakhs in Q3FY26 from ₹1,385.12 lakhs in Q3FY24, reflecting business expansion and workforce growth. Total expenses for the quarter reached ₹3,126.09 lakhs compared to ₹2,416.86 lakhs in the corresponding previous period.
The nine-month period results included exceptional gains of ₹13,598.67 lakhs from the strategic divestment of the Tax Technology GST Application Service Provider business and the sale of 100% equity interest in IRIS Logix Solutions Private Limited to Sovos Compliance Limited, UK. These divestments were part of strategic initiatives to simplify operations and focus on core business lines.
Governance and Compliance Updates
The board approved amendments to the Code of Conduct for Fair Disclosure of Unpublished Price Sensitive Information, aligning with recent amendments to SEBI regulations. The Audit Committee was also reconstituted with Mr. Madhavan Hariharan as Chairman, along with members Mr. Bhaswar Mukherjee, Mr. Ashok Venkatramani, and Mr. Balachandran Krishnan.
The company continues to maintain its focus on regulatory compliance and corporate governance standards while pursuing growth opportunities across its technology-driven business segments.
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