SRIT India IPO

The SRIT India mainboard IPO runs from 28 Sept 2026 to 30 Sept 2026, offered at a price band of ₹123–130 per share, and is set to list on NSE and BSE. The company is looking to raise ₹218.4 crore through the offer. Retail investors bid in lots of 115 shares, a minimum application of ₹14,950.

Issue structure

The IPO is structured entirely as a fresh issue of ₹218.4 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward funding working capital requirements of the company (₹124 crore), alongside achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes (₹55.13 crore). In all, 4 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, SRIT India reported revenue of ₹462.54 crore and a net profit of ₹43.29 crore. Revenue grew from ₹282.22 crore in FY2024 to ₹462.54 crore in FY2026 (+64.0%). Net worth stood at ₹193.27 crore at the end of FY2026. At the upper band, that puts the issue at roughly 14.3× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 19.29× post-issue earnings and 3.19× book value, against a return on net worth of 30.23% and a debt-to-equity ratio of 0.23. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Allied Digital Services Ltd. and Aurionpro Solutions Ltd., with a median peer P/E of about 18.6×. The issue's own post-issue P/E works out to 19.29×.

Promoters

The promoters of the company are <p>Nambiar Raghavan Madhusoodan, Prasaktha Vakkiyl Nambiar, Martin Poovakkulam Chacko</p>. Promoter holding stands at 84.91% before the issue and comes down to 62.71% after listing.

Grey market premium (GMP)

In the unofficial grey market, SRIT India shares are quoted at a premium of ₹62 implying an expected listing around ₹192, about +47.7% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The SRIT India IPO was subscribed 125.16 times overall. The strongest demand came from non-institutional investors (NII) at 312.99 times, with qualified institutional buyers (QIB) at 91.84× and retail investors at 63.7×.

Listing performance

SRIT India listed on 6 Oct 2026 at ₹139.8, a premium of +7.5% over the issue price of ₹130.

What to weigh

When evaluating the SRIT India IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About SRIT India

SRIT India Ltd. is an India-based Information Technology and Information Technology-enabled Services (&ldquo;IT/ITeS&rdquo;) company headquartered in Bengaluru, specialising in digital transformation and system automation through bespoke application development and systems integration. Over the past twenty-six years, the company has built deep capabilities in conceptualising, deploying, and managing digital platforms for government organisations and enterprise clients across India and select international markets. Its business operations are aligned across three principal verticals: (i) Healthcare, (ii) Electronic Governance, and (iii) Telecommunications and Broadband. Its ongoing and completed engagements include the delivery of AI-enabled solutions for public safety and transportation systems; end-to-end computerisation of core and ancillary operations for a state-owned beverage distribution and retail corporation; and the development, maintenance, and handholding support of multiple digital platforms such as Supply Management Information Systems, Health Management Information Systems, e-Prescription platforms, and online licensing solutions. As of September 30, 2025, its outstanding order book stood at ₹12,806.21 million. Over the last decade, the company has successfully executed over 103 projects, representing a cumulative order value of ₹12,347.16 million, across the healthcare, electronic governance, and telecommunications and broadband sectors. The company serves a broad and diversified customer base comprising: (i) government bodies and public sector entities, including Central, State, and local government departments and institutions that procure technology solutions for administrative, infrastructure, and public service delivery purposes (collectively, &ldquo;Government&rdquo;); and (ii) private sector businesses and enterprises (collectively, &ldquo;Enterprises&rdquo;). Competitive Strengths: Established track record with end-to-end product solution and integration capabilities Diverse Order Book across offerings for multiple clients &amp; geographies Extensive geographic footprint with scalable operations across key markets Strong financial performance and healthy balance sheet Experienced Promoters and Senior Management team, having domain knowledge