<?xml version="1.0" encoding="UTF-8"?>
<!--REG30PARAB V1.0 (01-06-2026)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Para_B_Of_Part_A_Of_Schedule_III/2026-04-30/in-capmkt/in-capmkt-ent" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2026-04-30.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">540735</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-11-05</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_ExerciseOfOptions"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">540735</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-11-05</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:StageOfOptionsToPurchaseSecuritiesAsPerSubPara10OfParaBAxis">in-capmkt:ExerciseOfOptionsMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">IRIS</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">IRIS REGTECH SOLUTIONS LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">540735</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE864K01010</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Options to purchase securities ESOPS (Sub-para 10-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-11-05</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">10:00:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-11-05</in-capmkt:DateOfReport><in-capmkt:StageOfDisclosureOfOptionsToPurchaseSecurities contextRef="I_ExerciseOfOptions">Exercise of options</in-capmkt:StageOfDisclosureOfOptionsToPurchaseSecurities><in-capmkt:BriefDetailsOfOptionsGranted contextRef="I_ExerciseOfOptions">ESOP 2017

Options granted to eligible employees under the IRIS RegTech Solutions Limited  Employee Stock Option Scheme 2017, approved by shareholders by special resolution on September 13, 2017. Pool size: 7,00,000 options, each exercisable into one equity share of INR10 each. Total options granted up to November 5, 2026: 7,00,000.

ESOP 2023

Options granted to eligible employees under the IRIS RegTech Solutions Limited  Employee Stock Option Plan 2023, approved by shareholders by special resolution on February 16, 2024. Pool size: up to 9,75,000 options, each exercisable into one equity share of INR 10 each. Total options granted up to November 5, 2026: 3,89,000.</in-capmkt:BriefDetailsOfOptionsGranted><in-capmkt:WhetherTheSchemeIsInTermsOfSEBISBEBRegulations2021 contextRef="I_ExerciseOfOptions">true</in-capmkt:WhetherTheSchemeIsInTermsOfSEBISBEBRegulations2021><in-capmkt:DetailsOfSharesCoveredByOptions contextRef="I_ExerciseOfOptions">ESOP 2017- 7,00,000
ESOP 2023- 9,75,000</in-capmkt:DetailsOfSharesCoveredByOptions><in-capmkt:PricingFormulaForOptions contextRef="I_ExerciseOfOptions">ESOP 2017

Exercise price as determined by the Nomination and Remuneration Committee and specified in the Grant Letter, which shall not be less than the face value of the equity share INR10 as on the date of grant. 

ESOP 2023

Exercise price as determined by the Compensation Committee in accordance with the SEBI (SBEB &amp; SE) Regulations, 2021 and specified in the Grant Letter, which shall in no case be less than the face value of the equity share INR10.</in-capmkt:PricingFormulaForOptions><in-capmkt:DetailsOfOptionsVested contextRef="I_ExerciseOfOptions">Vested but Not exercised
ESOP 2017-68,000 
ESOP 2023-1,08,220
</in-capmkt:DetailsOfOptionsVested><in-capmkt:DetailsOfTimeWithinWhichOptionMayBeExercised contextRef="I_ExerciseOfOptions">ESOP 2017

Within a maximum period of 5 (five) years from the date of vesting of the respective options.

ESOP 2023

Within 5 (five) years from the date of respective vesting, or such other period as may be determined by the Compensation Committee.</in-capmkt:DetailsOfTimeWithinWhichOptionMayBeExercised><in-capmkt:DetailsOfOptionsExercised contextRef="I_ExerciseOfOptions">Current Exercise 
ESOP 2017-50,000
ESOP 2023-2,000
Cumulative  Options Exercised
ESOP 2017- 6,32,000
ESOP 2023- 22,130
</in-capmkt:DetailsOfOptionsExercised><in-capmkt:DetailsOfMoneyRealizedByExerciseOfOptions contextRef="I_ExerciseOfOptions">INR 19,68,000</in-capmkt:DetailsOfMoneyRealizedByExerciseOfOptions><in-capmkt:DetailsOfSharesArisingFromExerciseOfOptions contextRef="I_ExerciseOfOptions">ESOP 2017-50,000
ESOP 2023-2,000
Total 52,000</in-capmkt:DetailsOfSharesArisingFromExerciseOfOptions><in-capmkt:DetailsOfOptionsLapsed contextRef="I_ExerciseOfOptions">ESOP 2017- 2,18,000(Lapsed options were re-granted)
ESOP 2023-44170
</in-capmkt:DetailsOfOptionsLapsed><in-capmkt:VariationInTermsOfOptions contextRef="I_ExerciseOfOptions">There has been no variation in the terms of options granted under  either of the Scheme.</in-capmkt:VariationInTermsOfOptions><in-capmkt:BriefDetailsOfSignificantTermsOfOptions contextRef="I_ExerciseOfOptions">ESOP 2017

Vesting: minimum 1 year and maximum 4 years from the date of grant, subject to continued employment and performance conditions, if any.
Each option is exercisable into one equity share of INR 10 each.
Implemented directly by the Company 
Options are non-transferable and cannot be pledged.
Shares allotted on exercise are not subject to lock-in.
Unvested options lapse on resignation. On death or permanent disability, unvested options vest immediately.
Options are subject to adjustment for corporate actions such as bonus, split and rights issues.

ESOP 2023

Vesting: minimum 1 year and maximum 4 years from the date of grant, as determined by the Compensation Committee, subject to continued employment and performance conditions, if any.
Each option is exercisable into one equity share of INR10 each.
Implemented directly by the Company.
Options are non-transferable and cannot be pledged.
Shares allotted on exercise are freely transferable, with no lock-in, subject to the insider trading code.
Unvested options lapse on resignation or termination. On death or permanent incapacity, they vest immediately and are exercisable within 1 year.
Options are subject to adjustment for corporate actions.</in-capmkt:BriefDetailsOfSignificantTermsOfOptions><in-capmkt:SubsequentChangesOrCancellationOrExerciseOfOptions contextRef="I_ExerciseOfOptions">There is no change in options granted.</in-capmkt:SubsequentChangesOrCancellationOrExerciseOfOptions><in-capmkt:DilutedEarningsPerSharePursuantToIssueOfEquitySharesOnExerciseOfOptions contextRef="I_ExerciseOfOptions">Not Applicable</in-capmkt:DilutedEarningsPerSharePursuantToIssueOfEquitySharesOnExerciseOfOptions></xbrli:xbrl>