About Instarem India Private Limited
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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.
Company details
Name history
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 |
Contact details
Instarem India Private Limited's registered office is in Bangalore, Karnataka. Its website is wirecardforex.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- 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
To see the full contact details of Instarem India Private Limited, buy the company report.
- 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
Brands
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
The main business activity of Instarem India is financial and insurance service. In detail, this covers other financial activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of Instarem India Private Limited, buy the company report.
Financials of Instarem India Private Limited
FY 2025 filings availableInstarem India Private Limited reported revenue of ₹46.19 Cr for FY 2025.
Compounded Annual Growth Rate (CAGR)
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
| 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
| 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 | |||||
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| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Instarem India Private Limited, buy the company report.
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
Instarem India Private Limited is compared with the 5 companies closest to it by revenue in the BFSI industry (Money Exchange Services), with the same principal business activity (other financial activities), from the latest filed financials of each company.
| 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 | |||
| Mangal Forex and Travels Private Limited | ₹46.84 Cr (FY 2024) | -27.0% | Kolkata, West Bengal, India | |||
| Instarem India Private Limitedthis company | ₹46.19 Cr (FY 2025) | ₹2.94 Cr | 6.4% | 204 | Bangalore, Karnataka, 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 |
To see the full peer comparison of Instarem India Private Limited, buy the company report.
Auditor
Instarem India Private Limited is audited by S. VISWANATHAN LLP for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S. VISWANATHAN LLP | FY 2025 | 004770S / S200025 |
Shareholding
The shareholding of Instarem India Private Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Instarem India Private Limited, buy the company report.
Legal cases
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.
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 M/S. Mecwel Constructions Pvt.Ltd. and 1 other | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI APPEAL) | Filed against the company by M/S. Halo Ventures LLP @ Ma 2476-19 @ Ba 2449-19 - Appellant, Org. Accused No. 3 and 2 and 1 other | Pending |
| High Court, ANDHRAPRADESH | Court case (CRLP) | Filed by the company against M/S Mecwel Construction Pvt. Ltd., and 3 others | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI BAIL APPLN) | Filed against the company by M/S. Halo Ventures LLP @ Appeal 756-19 @ Ma 2476-19 - Appellant, Org. Accused No. 3 and 2 and 1 other | Disposed |
| District court, Chandrapur, Maharashtra | Court case (Other Misc.Cri.Appln) | Filed by the company against an individual | Pending |
To see the full case history of Instarem India Private Limited, buy the company report.
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.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Instarem India Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Instarem India Private Limited has a workforce of 204 employees on its EPFO records as of Oct 10, 2025, across 1 active EPFO establishment.
GST
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 |
To see the full GST registrations and return filing status of Instarem India Private Limited, buy the company report.
Recent activity
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 in the company report.
Frequently asked questions
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 has 2 current directors:
- Kailash Suresh Gupta - Additional Director
- Krishnapillai Balaramanunnithan - Additional Director
The latest financial statements of Instarem India on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 24 September 2025. Year-wise statements from 2015 are in the company report.
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, Mangal Forex and Travels Private Limited, Victory Forex and Travel Services Private Limited, Unified Forex and Travels Private Limited, all in the BFSI industry (Money Exchange Services), with the same principal business activity (other financial activities).
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.
Instarem India can be reached through the website wirecardforex.com. Its registered office is in Bangalore, Karnataka, India.
The registered office of Instarem India is at Cunningham Classic 22 Cunningham Rd Now Known As Sampangi Ramaswamy Temple Road Tasker T, Own, Bangalore, Karnataka, India – 560052.