<?xml version="1.0" encoding="UTF-8"?>
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2022-03-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/ListingStage/2022-03-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/ListingStage/2022-03-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance">
<link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2022-03-31.xsd"/>

<xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><xbrli:unit id="shares"><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unit><xbrli:unit id="INRPerShare"><xbrli:divide><xbrli:unitNumerator><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unitNumerator><xbrli:unitDenominator><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unitDenominator></xbrli:divide></xbrli:unit>
<in-capmkt:ISIN contextRef="OneI">INE0SJA01013</in-capmkt:ISIN>
<in-capmkt:DesignateStockExchange contextRef="OneD">BSE</in-capmkt:DesignateStockExchange>
<in-capmkt:DateOfIssueOpen contextRef="OneI">2025-09-17</in-capmkt:DateOfIssueOpen>
<in-capmkt:DateOfIssueClose contextRef="OneI">2025-09-19</in-capmkt:DateOfIssueClose>
<in-capmkt:SelectPriceBandOrPrice contextRef="OneD">Price Band</in-capmkt:SelectPriceBandOrPrice>
<in-capmkt:PriceBandFrom contextRef="OneD" unitRef="INRPerShare" decimals="INF">94</in-capmkt:PriceBandFrom>
<in-capmkt:PriceBandTo contextRef="OneD" unitRef="INRPerShare" decimals="INF">99</in-capmkt:PriceBandTo>
<in-capmkt:DiscountPerShare contextRef="OneD" unitRef="INRPerShare" decimals="INF">0</in-capmkt:DiscountPerShare>
<in-capmkt:CompositionOfIssue contextRef="OneD">Fresh</in-capmkt:CompositionOfIssue>
<in-capmkt:NumberOfFreshIssueShares contextRef="OneI" unitRef="shares" decimals="INF">15000000</in-capmkt:NumberOfFreshIssueShares>
<in-capmkt:NumberOfIssueShares contextRef="OneI" unitRef="shares" decimals="INF">15000000</in-capmkt:NumberOfIssueShares>
<in-capmkt:NumberOfShareAllocatedToAnchor contextRef="OneI" unitRef="shares" decimals="INF">2700000</in-capmkt:NumberOfShareAllocatedToAnchor>
<in-capmkt:NumberOfShareAllocatedToQIB contextRef="OneI" unitRef="shares" decimals="INF">1800000</in-capmkt:NumberOfShareAllocatedToQIB>
<in-capmkt:NumberOfShareAllocatedToRII contextRef="OneI" unitRef="shares" decimals="INF">7500000</in-capmkt:NumberOfShareAllocatedToRII>
<in-capmkt:NumberOfShareAllocatedToNII contextRef="OneI" unitRef="shares" decimals="INF">3000000</in-capmkt:NumberOfShareAllocatedToNII>
<in-capmkt:NumberOfShareAllocatedToReservationPortion contextRef="OneI" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfShareAllocatedToReservationPortion>
<in-capmkt:NumberOfShareAllocatedToMarketMakerReservationPortion contextRef="OneI" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfShareAllocatedToMarketMakerReservationPortion>
<in-capmkt:NumberOfShareAllocatedToOther contextRef="OneI" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfShareAllocatedToOther>
<in-capmkt:MarketLot contextRef="OneI" unitRef="shares" decimals="INF">150</in-capmkt:MarketLot>
<in-capmkt:FinalIssuePrice contextRef="OneD" unitRef="INRPerShare" decimals="INF">99</in-capmkt:FinalIssuePrice>
<in-capmkt:AmountOfIssueSize contextRef="OneD" unitRef="INR" decimals="-3">1485000000</in-capmkt:AmountOfIssueSize>
<in-capmkt:NumberOfTimesIssueOverSubscribed contextRef="OneD" unitRef="pure" decimals="INF">84</in-capmkt:NumberOfTimesIssueOverSubscribed>
<in-capmkt:NumberOfSharePostIssue contextRef="OneI" unitRef="shares" decimals="INF">49631210</in-capmkt:NumberOfSharePostIssue>
<in-capmkt:ScripID contextRef="OneD">VMSTMT</in-capmkt:ScripID>
<in-capmkt:DateOfListing contextRef="OneI">2025-09-24</in-capmkt:DateOfListing>
<in-capmkt:DateOfSubmission contextRef="OneI">2025-09-23</in-capmkt:DateOfSubmission>
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