SRIT India IPO
SRIT India IPO at a glance
SRIT India IPO was a mainboard issue of ₹218.40 Cr at a price band of ₹123 – ₹130 per share, open from 28 Sep 2026 to 30 Sep 2026. It was subscribed 3.57 times overall (QIB 0.02x, NII 4.8x, retail 5.37x). The shares listed on BSE, NSE on 06 Oct 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
Not financial advice
Issue Details
Objects of the Issue
- 💰 Product modernisation and redevelopment — ₹12.86 Cr
- 💰 Working capital — ₹124.00 Cr
- 💰 Acquisitions and other strategic initiatives
- 💰 General corporate purposes
About the Company
SRIT India, incorporated in 1999 and based in Bengaluru, is an IT and IT-enabled services company. It builds custom software and integrates systems mainly for government bodies and enterprises in three areas — healthcare (hospital information systems and digital-health platforms), e-governance, and telecom and broadband (fibre networks and networking). It also offers cybersecurity, automation, AI solutions and managed services, and operates in several Indian states and in Qatar.
Strengths
- ✅ 26 years of experience delivering large government and enterprise IT projects
- ✅ Specialised in digital health and e-governance, where government spending continues
- ✅ Holds CMMI Level 5 and several ISO security certifications
- ✅ Income rose from ₹282 Cr in FY24 to ₹463 Cr in FY26, and PAT from ₹29 Cr to ₹43 Cr
Risk Factors
- ⚠️ Heavily dependent on government contracts, which can mean slow payments and tender risk
- ⚠️ Most of the IPO money (₹124 Cr) goes to working capital, pointing to large receivables
- ⚠️ Part of the money is set aside for unspecified acquisitions
- ⚠️ Competes with much larger IT services and system-integration firms
- ⚠️ Net margin is under 10%
Subscription Status
GMP Trend
Day-wise Subscription
| Day | QIB | NII | RII | Overall |
|---|---|---|---|---|
| Day 1 | — | — | — | 0.00x |
| Day 2 | — | — | — | 0.00x |
| Day 3 | — | — | — | 0.00x |
Share Reservation
Allocation as per SEBI regulations for Mainboard IPO
Anchor Investors
Promoter Holding
Founders & Leadership
IPO Timeline
Key Financials
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 462.54 | 400.50 | 282.22 |
| Profit After Tax | 43.29 | 33.60 | 29.08 |
| Net Worth | 193.27 | 93.17 | 80.47 |
| Total Borrowing | 36.15 | 51.30 | 22.28 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|---|---|
| ROE (%) | 22.40 | 36.06 |
| Debt / Equity | 0.19 | 0.55 |
| Net Worth (Rs. Cr) | 193.27 | 93.17 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹6.74 | — |
| P/E (x) | 19.29x | — |
| ROE (%) | 30.23% | — |
| Promoter Holding | 84.91% | 62.71% |
| Market Cap | ₹836 Cr | |