About Instarem India Private Limited
Data last updated:
Instarem India Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of Nium Pte Ltd. It operates in the forex services segment of the financial services sector. It was incorporated on 19 December 2011 and has been in existence for over 15 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U63000KA2011PTC061735. Its GSTIN is 29AAECG5258K1Z5 (Karnataka). The company holds 16 GST registrations, of which 15 are active.
The company has an authorised share capital of ₹35 Cr and a paid-up capital of ₹27.54 Cr. It was formerly known as Wirecard Forex India Private Limited and Star Global Currency Exchange Private Limited. It is led by directors Kailash Suresh Gupta and Krishnapillai Balaramanunnithan.
Its last annual general meeting (AGM) was held on 24 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2025, the company reported a revenue of ₹46.19 Cr. For the same year it recorded a net profit of ₹2.94 Cr (net margin 6.4%) and EBITDA of ₹3.91 Cr (EBITDA margin 8.5%). Revenue has declined at a compounded annual rate (CAGR) of 48% over three years and 48% over five years.
The company has about 204 employees on its provident fund (EPFO) records.
The company is associated with 3 brands: Nium Forex, Wirecard Forex and InstaReM. Court records list 57 cases involving the company, including 52 filed by the company and 5 filed against it; 26 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website wirecardforex.com.
Name History of Instarem India Private Limited
Instarem India has undergone 4 name changes throughout its history. The current legal name is Instarem India Private Limited.
| Company Name | Status |
|---|---|
| Instarem India Private Limited | Current |
| Wirecard Forex India Private Limited | Previous |
| Star Global Currency Exchange Private Limited | Previous |
| Guide Travels And Forex Services Private Limited | Previous |
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Apps
- Registered AddressCunningham Classic 22 Cunningham Rd Now Known As Sampangi Ramaswamy Temple Road Tasker T, Own, Bangalore, Karnataka, India – 560052
- IndustryFinancial Services, Forex Services
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
- One PDF report, delivered after checkout
Associated Brands with Instarem India Private Limited
Instarem India operates multiple associated brands including Nium Forex, Wirecard Forex, and InstaReM. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provides foreign currency exchange, prepaid cards, and overseas remittances services. | niumforex.com | |
| Provider of foreign exchange services | wirecardforex.com | |
| Cross-border money transfers are facilitated for individuals and businesses. | instarem.com |
Business Activity of Instarem India Private Limited
The main business activity of Instarem India is financial and insurance service. In detail, this covers other financial activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Instarem India Private Limited FY 2025 filings available
Instarem India Private Limited reported revenue of ₹46.19 Cr for FY 2025.
Compounded Annual Growth Rate (CAGR) of Instarem India Private Limited
Revenue has declined at a compounded annual rate (CAGR) of 48% over five years. EBITDA rose 153% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary of Instarem India Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | ₹46.19 Cr | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹3.91 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹2.94 Cr | •••• | •••• | •••• | •••• |
| Balance Sheet | |||||
| Share Capital | •••• | •••• | •••• | •••• | •••• |
| Reserves and Surplus | •••• | •••• | •••• | •••• | •••• |
| Net Worth (Total Equity) | •••• | •••• | •••• | •••• | •••• |
| Long-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Short-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Trade Payables | •••• | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Instarem India Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 8.5% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 6.4% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
| Liquidity and Debt | |||||
| Current Ratio | •••• | •••• | •••• | •••• | •••• |
| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
| Inventory Days | •••• | •••• | •••• | •••• | •••• |
| Revenue Growth | •••• | •••• | •••• | •••• | •••• |
| Net Profit Growth | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Instarem India are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Board of Directors of Instarem India Private Limited
Instarem India has 2 current directors and 18 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kailash Suresh Gupta Also directs: Socash India Private Limited | Additional Director | 04 Oct 2024 | 2 Years 0 Months | Current |
| Krishnapillai Balaramanunnithan | Additional Director | 04 Oct 2024 | 2 Years 0 Months | Current |
Peer Comparison of Instarem India Private Limited
Instarem India Private Limited is compared with the companies closest to it by revenue in the BFSI industry (Money Exchange Services). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Catalyst Horizon Services Private Limited | ₹47.68 Cr (FY 2024) | •••• | •••• | 10.0% | •••• | Kolkata, West Bengal, India |
| Golden Money Changer Private Limited | ₹47.13 Cr (FY 2024) | •••• | •••• | 6.0% | •••• | Madurai, Tamil Nadu, India |
| Aerowise Travel and Forex Private Limited | ₹46.93 Cr (FY 2025) | •••• | •••• | -18.0% | •••• | Hyderabad, Telangana, India |
| Mangal Forex and Travels Private Limited | ₹46.84 Cr (FY 2024) | •••• | •••• | -27.0% | •••• | Kolkata, West Bengal, India |
| Amigo Forex Private Limited | ₹46.21 Cr (FY 2025) | •••• | •••• | -16.0% | •••• | Pune, Maharashtra, India |
| Instarem India Private Limited this company | ₹46.19 Cr (FY 2025) | •••• | •••• | •••• | Bangalore, Karnataka, India | |
| Trio Forex Private Limited | ₹45.67 Cr (FY 2025) | •••• | •••• | -16.0% | •••• | Mumbai, Maharashtra, India |
| Victory Forex and Travel Services Private Limited | ₹45.64 Cr (FY 2024) | •••• | •••• | 45.0% | •••• | Secunderabad, Telangana, India |
| Unified Forex and Travels Private Limited | ₹45.39 Cr (FY 2024) | •••• | •••• | -11.0% | •••• | Kolkata, West Bengal, India |
| Universal Currency Exchange (I) Private Limited | ₹45.13 Cr (FY 2025) | •••• | •••• | -5.0% | •••• | Mumbai, Maharashtra, India |
| White Knight Forex Services Private Limited | ₹43.97 Cr (FY 2025) | •••• | •••• | -15.0% | •••• | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Instarem India by revenue in the BFSI industry (Money Exchange Services), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Instarem India Private Limited
Instarem India Private Limited is audited by S. VISWANATHAN LLP for the financial year 2025.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| S. VISWANATHAN LLP | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Ownership and Shareholding of Instarem India Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Instarem India Private Limited
Instarem India Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Legal Cases of Instarem India Private Limited
Instarem India Private Limited has 57 court cases on record: 52 filed by Instarem India, 5 filed against it. 26 cases are pending and 31 are disposed. Status as checked between 01 Oct 2026 and 04 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 32 | 3 | 26 |
| High courts | 25 | 2 | 0 |
Cases on record (5 of 57)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Krishna, Andhra Pradesh | Criminal complaint | Filed by the company against Mecwel Constructions Private Limited | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI APPEAL) | Filed against the company by Halo Ventures LLP | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI BAIL APPLN) | Filed against the company by Halo Ventures LLP | Disposed |
| District court, Chandrapur, Maharashtra | Court case (Other Misc.Cri.Appln) | Filed by the company against an individual | Pending |
| District court, Krishna, Andhra Pradesh | Criminal complaint | Filed by the company against M/S.Mecwell Constructions Pvt.Ltd | Pending |
Full case history
All 57 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Employees and EPFO Compliance at Instarem India Private Limited
Instarem India Private Limited has a workforce of 204 employees as of Oct 10, 2025.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Instarem India Private Limited
Instarem India Private Limited has 19 board changes on record since 2013: 2 appointments and 17 cessations. The latest: Kailash Suresh Gupta was appointed as Additional Director on 04 Oct 2024.
10 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Instarem India Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Instarem India Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Instarem India Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Instarem India Private Limited
Instarem India has 16 GST registrations: 15 active and 1 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAECG5258K1Z5 | Karnataka | Active | 01 Jul 2017 |
| 06AAECG5258K1ZD | Haryana | Active | 01 Jul 2017 |
| 07AAECG5258K1ZB | Delhi | Active | 01 Jul 2017 |
| 19AAECG5258K1Z6 | West Bengal | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Instarem India Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Related news about Instarem India Private Limited
Frequently Asked Questions about Instarem India Private Limited
Instarem India is an active private limited company based in Bangalore, Karnataka, India. The company works in forex services, within the financial services industry. It was incorporated on 19 December 2011 (15+ years old) and is registered under CIN U63000KA2011PTC061735.
Instarem India reported revenue of ₹46.19 Cr for FY 2025.
Instarem India has 2 current directors:
- Kailash Suresh Gupta - Additional Director
- Krishnapillai Balaramanunnithan - Additional Director
Instarem India reported a net profit of ₹2.94 Cr (net margin 6.4%) and EBITDA of ₹3.91 Cr (EBITDA margin 8.5%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Instarem India is 48% over three years and -48% over five years. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Instarem India is 29AAECG5258K1Z5, registered in Karnataka. The company has 16 GST registrations in all, of which 15 are active and 1 is cancelled or inactive. Other active GSTINs include 06AAECG5258K1ZD (Haryana), 07AAECG5258K1ZB (Delhi), 19AAECG5258K1Z6 (West Bengal).
The CIN (Corporate Identification Number) of Instarem India is U63000KA2011PTC061735. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Instarem India has 57 court cases on record: 52 filed by the company and 5 filed against it. 26 are pending. Most are in the district courts.
Instarem India was incorporated on 19 December 2011, making it 15+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of Instarem India by revenue are Catalyst Horizon Services Private Limited, Golden Money Changer Private Limited, Aerowise Travel and Forex Private Limited, Mangal Forex and Travels Private Limited, Amigo Forex Private Limited and 5 more, all in the BFSI industry (Money Exchange Services).
Kailash Suresh Gupta was appointed as Additional Director on 04 Oct 2024. Kailash Suresh Gupta ceased to be Director on 04 Oct 2024. Krishnapillai Balaramanunnithan was appointed as Additional Director on 04 Oct 2024. Instarem India has 19 board changes on record in total.