“IPO an important milestone in our evolution into a full-fledged Reg-Tech player,” says MD, Core Integra, Mahesh Krishnamoorthy

Excerpts from an Interview:   

Q: With the DRHP filing for an IPO on NSE Emerge, could you detail the specific allocation plans for the capital raised? What milestones in product development, market expansion or talent acquisition are directly dependent on this IPO funding and what is your overall roadmap post-listing?

A: The IPO is an important milestone in our evolution into a full-fledged Reg-Tech player. The funds we raise through NSE Emerge will be invested to upgrade IT infrastructure, strengthen the leadership team and enhance brand visibility and awareness. A significant portion will go into enhancing Ctrl F, adding more AI-driven analytics and strengthening the backend infrastructure for scalability. A portion is also earmarked for expanding our reach into newer cities and sectors, especially manufacturing, logistics and BFSI, where compliance complexity is highest.
The Regulatory Technology (Reg-Tech) and HR Technology (HR-Tech) market in India is expected to reach a staggering Rs 1, 29,000 crore SAM by FY30.

Q: Where does Core Integra see its most significant opportunity for capturing market share within this landscape and how will Ctrl F’s current core offering in labour law compliance pivot to address this broader market growth?

A: As the Reg-Tech and HR-Tech market in India continues to grow at an unprecedented rate, we see the most significant opportunity in sectors and enterprises that face high regulatory complexity like multi-state manufacturing, logistics, and majority of Indian companies. These organisations struggle to manage labour-law compliance alongside payroll, contractor obligations and ESG reporting, creating a gap that Ctrl F can fill. To capture this growth, we are expanding Ctrl F from a labour-law compliance tool into a broader compliance platform, integrating all these modules while layering in analytics and automation to give decision-makers real-time visibility. By turning long-standing client relationships into scalable SaaS partnerships, we aim to translate our domain expertise and technological capabilities into a meaningful share of this rapidly expanding market.

Q: Ctrl F already utilises Robotic Process Automation (RPA) for compliance automation and your subsidiary engages in AI. Can you share a concrete vision for how advanced AI will be integrated into the platform—beyond RPA—to transform compliance management, perhaps in areas like predictive risk assessment, dynamic policy generation or automated regulatory analysis?

A: We were among the early adopters of RPA in compliance management which made it easy to automate repetitive, high-volume tasks like data collection, filings, and audits but our vision for AI goes far beyond automation. It will enable dynamic response, automatically drafting or updating client-specific compliance guidelines when regulations change. In addition, AI will power automated regulatory analysis, interpreting new circulars and linking them to impacted workflows and obligations across multiple states or industries. We aim to create a platform where compliance is not just executed, but continuously analysed, adapted, and optimized.

Q: The company plans to widen the platform usage of the existing client base to newer areas being introduced beyond the labour laws. What are the top 2-3 new regulatory domains (e.g., Environmental, Social, and Governance (ESG) compliance, data privacy or financial compliance) that Core Integra plans to integrate next and when can clients expect these new modules to go live?

A: Our long-term vision has always been to make Ctrl F a unified regulatory platform which means moving beyond labour laws into the regulatory areas that matter most to our clients today. Labour law and compliance, where businesses are under growing pressure to track and report workforce and environmental data. The second is data privacy and digital governance, especially with India’s new DPDP Act coming into force. We’ve also built a vendor and supply-chain compliance module that will give enterprises visibility into their extended ecosystem.