Wife of Ace Investor Madhusudan Kela Holds 5.36 Per Cent Stake: This Company Chosen By Accenture For Qatar Central Bank’s RegTech Project – Do You Own It?
Among the major public shareholders of the company, Flowers Valley Pvt Ltd holds a 5.94 per cent stake, followed by Madhuri Madhusudan Kela with 5.36 per cent.
IRIS Business Services Limited has been chosen by Accenture for a big regulatory technology project with the Qatar Central Bank. The XBRL Project is a project that is being implemented by the bank to improve on the bank's regulatory data collection and supervision through the use of a modern digital platform that is based on XBRL standards. The contract is currently in the notification stage, however, a formal agreement has not yet been concluded. This agreement is in line with IRIS's increasing presence in the Middle East and its position as a SupTech and RegTech provider. The company has stated that this is just a normal business transaction and not a material contract.
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IRIS Business Services Limited is a RegTech SaaS company that was founded in 2000 and is a leading provider of technology driven solutions to regulators and enterprises. The company has the following areas of focus; compliance, data, and analytics, where it employs Artificial Intelligence and Machine Learning. The company has three main business areas which are ‘Collect’, ‘Create’ and ‘Consume’ that are used for submission of regulations, generation of documents and consumption of data. Some of the products that are offered by IRIS include iFILE, iDeal and IRIS GST among others. IRIS has a wide range of clients including Tadawul and SBI Mutual Fund and has subsidiaries in the USA, Singapore and Italy. In FY23, the order book of IRIS was Rs 123 crore, with the revenue being 57 per cent from services and the major contribution being from the ‘Create’ division, 59 per cent. Geographically, the revenue of the company is mostly from India (38 per cent), Europe & UK (20 per cent).
As of April 17, 2025, the stock price of IRIS Business Services Limited stands at Rs 310.55. The company has recorded a 52-week high of Rs 573.65 and a 52-week low of Rs 130.45. With a market capitalization of Rs 621 crore, IRIS Business Services has delivered a return of 144.53 per cent over the last one year and 192.28 per cent over the last three years. The stock is currently trading at a Price-Earnings (PE) ratio of 42.01.
Among the major public shareholders of the company, Flowers Valley Pvt Ltd holds a 5.94 per cent stake, followed by Madhuri Madhusudan Kela with 5.36 per cent. Other significant shareholders include Llp with 4.67 per cent, Khazana Tradelinks Pvt Ltd with 3.47 per cent, and Mansoul Commercial Private Limited holding 2.28 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.