SRIT India IPO

MainboardAllotment outLists in 5 daysIT & SoftwareKarnataka
Check allotment status
Price band
₹123 – ₹130
Issue size
₹218.4 Cr
Min. investment
₹14,950
115 shares
GMP
₹50
+38.46%
Subscribed
125.16x
Bidding dates
28 – 30 Sep 2026

IPO timeline

  1. Opens
    28 SepMon
  2. Closes
    30 SepWed
  3. Allotment · Today
    1 OctThu
  4. Refunds
    5 OctMon
  5. Demat credit
    5 OctMon
  6. Listing
    6 OctTue

Issue details

Price band
₹123 – ₹130 per share
Issue size
₹218.4 Cr
Fresh issue
₹218.4 Cr · 1.68 Cr shares
Offer for sale
None
Issue type
Fresh capital only
Face value
₹5 per share
Lot size
115 shares
Minimum investment
₹14,950
Listing on
BSE, NSE
Exchange code
8009

Lot size and investment

ApplicationLotsSharesAmount
Retail (Min)1115₹14,950
Retail (Max)131,495₹1,94,350
S-HNI (Min)141,610₹2,09,300
B-HNI (Min)677,705₹10,01,650

Reservation

QIB
Not more than 50% of the Net Issue
Retail
Not less than 35% of the Net Issue
NII
Not less than 15% of the Net Issue

Allotment status

Registrar: KFin Technologies Limited

The allotment for this IPO is final. Check whether you received shares on the registrar's website using your PAN, application number or demat account (DP / Client ID).

Check allotment on KFin Technologies
  1. 1Open the registrar's allotment page and select this IPO from the list.
  2. 2Enter your PAN, application number or DP / Client ID.
  3. 3Submit to see the number of shares allotted, if any.
Basis of allotment
1 Oct 2026
Refunds initiated
5 Oct 2026
Shares credited to demat
5 Oct 2026
Listing
6 Oct 2026

Grey market premium (GMP)

Updated 01 Oct 2026, 06:00 PM IST
Current GMP
₹50
+38.46%
Estimated listing price
₹180
Issue price ₹130
Subject to sauda
₹3,300 retail · ₹46,200 HNI

GMP is an unofficial indicator from an unregulated market. It is shown for information only and is not a prediction of the listing price or a recommendation to apply.

Subscription status

Updated 30 Sep 2026, 07:30 PM IST
Overall subscription
125.16x
Fully subscribed
  • QIB91.84x
  • NII (HNI)312.99x
  • Retail63.7x

Financials

Amounts in Rs. Crore
P/E (pre-issue)
14.25
P/E (post-issue)
19.3
EPS (₹)
6.74
RoE
30.23%
RoCE
28.79%
RoNW
30.23%
PAT Margin
9.62%
EBITDA Margin
14.39%
Debt / Equity
0.23
NAV (₹)
40.71

Pre-issue P/E uses the shares outstanding before the IPO; post-issue P/E includes the new shares. Calculated by Be IPO Ready at the issue price on profit for the FY ended 31 Mar 2026.

Period ended31 Mar 202631 Mar 202531 Mar 2024
Assets614.16496.64428.96
Total Income462.54400.50282.22
Profit After Tax43.2933.6029.08
EBITDA64.7749.8140.99
NET Worth193.2793.1780.47
Reserves and Surplus169.5472.9353.52
Total Borrowing36.1551.3022.28

Peer comparison

CompanyIssue sizeP/ERoNWPAT marginSubscribedListing gain
SRIT India
This IPO
₹218.4 Cr19.2930.23%9.62%125.16x—
Innovision
Mainboard · listed 23 Mar 2026
₹255 Cr35.6919.55%4.17%3.47x-14.65%
Xtranet Technologies
Mainboard · listed 30 Jul 2026
₹166.8 Cr16.331.15%10.88%12.24x+7.09%
ArMee Infotech
Mainboard · listed 30 Sep 2026
₹300 Cr26.1724.96%3.26%2.44x0.00%
CSM Technologies
Mainboard · listed 2 Jul 2026
₹145.78 Cr29.7516.54%8.80%1.37x0.00%
ESDS Software Solution
Mainboard · listed 4 Sep 2026
₹720 Cr41.6122.85%25.59%135.88x+76.46%
Capillary Technologies
Mainboard · listed 21 Nov 2025
₹877.5 Cr2214.952.85%2.37%52.95x-0.88%

Peers are other recent IPOs from the same industry, closest in issue size. Ratios are as disclosed at the time of each issue. This is not the listed-peer table from the offer document.

About SRIT India

SRIT India Limited was started in September 1999 and is headquartered in Bengaluru. It is an IT and IT-enabled services company providing digital solutions, custom software development and system integration. It designs, implements and runs digital platforms for government bodies and enterprises in India and some overseas markets. It works across three areas. In healthcare it builds hospital and health information systems and digital health platforms. In electronic governance it builds e-governance solutions for government departments. In telecom and broadband it handles networking, connectivity and fibre optic infrastructure. Its wider range covers cybersecurity, enterprise software, system integration, automation and managed services. It also offers solutions that can be configured and connected with third-party platforms, and has started developing AI enabled solutions across its main areas. With 26 years in the industry, it has built a long record of executing government technology projects.

Strengths

  • Sales have grown strongly, from Rs 282.22 crore in FY2024 to Rs 400.50 crore in FY2025 and Rs 462.54 crore in FY2026.
  • Profit has grown every year, from Rs 29.08 crore in FY2024 to Rs 33.60 crore in FY2025 and Rs 43.29 crore in FY2026.
  • EBITDA improved from Rs 40.99 crore in FY2024 to Rs 64.77 crore in FY2026.
  • Return ratios are healthy, with RoNW of 30.23% and RoCE of 28.79%.
  • The company has a long record of 26 years, having started in September 1999.
  • It works in three different areas, healthcare, e-governance and telecom, so it is not dependent on one type of project.
  • Net worth more than doubled in FY2026, from Rs 93.17 crore to Rs 193.27 crore, and borrowing came down from Rs 51.30 crore to Rs 36.15 crore.
  • The whole issue is fresh capital with no offer for sale.

Risks

  • Most of the work is for government bodies, which award projects through tenders, pay slowly and can delay or cancel spending with budget changes.
  • Rs 124 crore of the Rs 218.4 crore issue goes into working capital, which shows how much cash government projects tie up before payment arrives.
  • A part of the money is kept for inorganic growth through unidentified acquisitions, so investors do not know where that money will go.
  • The issue is priced at about 19.29 times earnings on an EPS of Rs 6.74.
  • The profit margin is moderate at 9.62%, and IT project work is priced competitively.
  • Net worth doubled in a single year, so earlier year ratios are not directly comparable with the latest year.
  • Technology projects carry execution risk, and a delayed or disputed government contract can hold up payment for a long time.
  • Promoter holding will come down from 84.91% to 62.71% after the issue.

Objects of the issue

  1. Funding of capital expenditure requirements towards modernization of existing products and redevelopment₹12.86 Cr
  2. Funding working capital requirements of the Company₹124 Cr
  3. Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes

Promoters and shareholding

Nambiar Raghavan Madhusoodan, Prasaktha Vakkiyl Nambiar and Martin Poovakkulam Chacko

Promoter holding, pre-issue
84.91%
Promoter holding, post-issue
62.71%

Registrar, lead managers and documents

Registrar

KFin Technologies Limited

040-79615565

compliance.corp@kfintech.com

Company contact

SRIT House, #113/1B, ITPL Main Road, Kundalahalli, Bengaluru, Karnataka, 560037

+91-80419 51999

cs.nidhi@sritindia.com

SRIT India IPO: common questions

When does the SRIT India IPO open and close?

The SRIT India IPO opens on 28 Sep 2026 and closes on 30 Sep 2026.

What is the price band of the SRIT India IPO?

The price band is ₹123 – ₹130 per share, with a lot size of 115 shares and a minimum investment of ₹14,950.

What is the size of the SRIT India IPO?

The issue size is ₹218.4 Cr (Fresh capital only).

What is the GMP of the SRIT India IPO?

The last reported grey market premium is ₹50 per share as of 01 Oct 2026, 06:00 PM IST. GMP is unofficial and changes frequently.

When is the SRIT India IPO allotment?

The basis of allotment is expected on 1 Oct 2026. Allotment status can be checked with the registrar, KFin Technologies Limited.

When will the SRIT India IPO list?

The shares are expected to list on 6 Oct 2026 on BSE, NSE.

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