- Summary
- SRIT India IPO is a book-built mainboard issue of ₹218.40 crore, offering only fresh shares, that opens on 28 September 2026.
- Investors can bid at ₹123.00/share–₹130.00/share, with 1 lot comprising 115 shares.
- SRIT India provides IT/ITeS solutions across healthcare, e-governance, telecommunications and broadband, with improved profitability and financial performance.
SRIT India IPO is a ₹218.40 crore book-built mainboard issue, entirely made up of a fresh issue of 16,800,000 Equity Shares of face value of ₹5.
The IPO opens for bidding from 28 September 2026 to 30 September 2026. The allotment of the shares is tentatively fixed on 1 October 2026. The listing is scheduled for 6 October 2026 on NSE and BSE.
The price band has been set at ₹123.00/share–₹130.00/share. This lot size is 115 shares. With the upper band, retail investors must invest a minimum of ₹14,950.00 for 1 lot.
SRIT India IPO–Key Details
The SRIT India IPO details are discussed in the table below:
| IPO Open | 28 September 2026 |
| IPO Close | 30 September 2026 |
| Face value | ₹5.00/share |
| Price Band | ₹123.00/share–₹130.00/share |
| Issue price | – |
| IPO Lot Size | 115 shares |
| Offer-for-sale | – |
| Fresh issue | 16,800,000 Equity Shares (₹218.40 crore) |
| Issue Type | Mainboard/Bookbuilt IPO |
| Listing | NSE, BSE |
| Total Issue Size (₹ Crore) | ₹218.40 crore (16,800,000 Equity Shares) |
| Minimum Investment (Retail) | ₹14,950.00 |
SRIT India IPO–Timeline
The complete SRIT India IPO timetable:
| Bid Open Date | 28 September 2026 |
| Bid Close Date | 30 September 2026 |
| Allotment | 1 October 2026 |
| Refunds Initiated | 5 October 2026 |
| Share Credit Date | 5 October 2026 |
| Listing | 6 October 2026 |
| UPI mandate Cut-off time | 30 September 2026 (5 PM) |
SRIT India Limited–Key Performance Indicators (KPIs)
The KPIs of SRIT India Limited are as stated below:
| KPIs | 2026 | 2025 | 2024 |
| ROE (%) | 30.23 | 38.76 | 44.11 |
| ROCE (%) | 28.79 | 37.42 | 47.52 |
| Debt-Equity Ratio (in times) | 0.23 | 0.66 | 0.31 |
| RoNW (%) | 30.23 | 38.76 | 44.11 |
| PAT Margin (%) | 9.62 | 8.63 | 10.73 |
| EBITDA Margin (%) | 14.39 | 12.79 | 15.12 |
| Price-Book Value | 3.19 | – | – |
SRIT India Limited–Financial Information
| 2026 | 2025 | 2024 | |
| Revenue | 4,50.00 | 389.35 | 271.09 |
| Assets | 614.16 | 496.64 | 428.96 |
| Profit/Loss After Tax | 43.29 | 33.60 | 29.08 |
(Amount in ₹ Crore)
SRIT India IPO–Subscription Status
| Date | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | Total |
|---|---|---|---|---|---|---|
| Sep 28 (Day 1) | 0.00 | 0.59 | 0.32 | 1.15 | 1.29 | 0.77 |
SRIT India IPO–Grey Premium Market (GMP)
The SRIT India IPO GMP is currently ₹18.00, as updated on 25 September 2026, 11:37 AM IST.
With ₹130.00 as the upper price band of the issue, the listing price is estimated at ₹148.00, which implies a gain of 13.85% per share.
| GMP Date | GMP | Est. Listing Price on upper price-₹130.00 | Est. Profit* | Trend |
|---|---|---|---|---|
| 28-Sep 14:02 Sub: 0.65x O | ₹31 (23.85%) ▼ | ₹161 | ₹3,565 | Stable |
| 27-Sep 23:37 | ₹33 (25.38%) ▲ | ₹163 | ₹3,795 | Upward |
| 26-Sep 23:37 | ₹32 (24.62%) ─ | ₹162 | ₹3,680 | Upward |
| 25-Sep 23:37 | ₹32 (24.62%) ▲ | ₹162 | ₹3,680 | Upward |
| 24-Sep 23:37 | ₹21 (16.15%) ▲ | ₹151 | ₹2,415 | Stable |
| 23-Sep 23:37 | ₹12 (9.23%) ─ | ₹142 | ₹1,380 | Initial |
Disclaimer: The GMP is an unofficial metric and is indicative only. It fluctuates based on prevailing market conditions, buyer sentiment, and overall IPO subscription demand.
SRIT India IPO–Reservation
The issue reservation of the SRIT India IPO across investor categories is stated below:
| Investor Classification | % Allocation |
| QIBs | Maximum 50% |
| NIIs | Minimum 15% |
| Retail Investors | Minimum 35% |
| Total | 100% |
SRIT India IPO–Lot Size
The key application and investment details for the SRIT India IPO are given below:
| Application | Lot Size | Shares | Amount |
| Retail Minimum Application | 1 | 115 | ₹14,950 |
| Retail Maximum Application | 13 | 1495 | ₹1,94,350 |
| S-HNI Minimum Application | 14 | 1610 | ₹2,09,300 |
| S-HNI Maximum Application | 66 | 7590 | ₹9,86,700 |
| B-HNI Minimum Application | 67 | 7705 | ₹10,01,650 |
SRIT India IPO–Anchor Investors Details
The anchor investors’ details for the SRIT India IPO are as follows:
| Bidding opens on | 25 September 2026 |
SRIT India IPO–Prospectus
The official offer documents are as follows:
About SRIT India Limited
Incorporation: 9 September 1999
Managing Director and Chief Executive Officer: Dr Nambiar Raghavan Madhusoodan
The company is a Bengaluru-headquartered IT/ITeS solutions provider offering digital platforms, custom application development and system integration services. With 26 years of experience, it serves government entities and enterprises across India and select overseas markets, delivering technology solutions for critical business and public-sector requirements.
Its business operations are divided into three segments:
- Healthcare: Provides hospital information systems, digital health platforms, revenue cycle management and healthcare system integration services.
- Electronic Governance: Delivers e-governance platforms, cybersecurity, enterprise software and integrated digital services for government and enterprise clients.
- Telecommunications and Broadband: Offers networking, fibre optic infrastructure, broadband connectivity, managed services and digital infrastructure deployment.
| Book Running Lead Manager (BRLM) | Choice Capital Advisors Private Limited |
| Registrar | KFin Technologies Limited |
Objectives of SRIT India Limited
The proceeds from the SRIT India IPO are planned to be utilised for the following purposes:
| Particulars | Amount (in ₹ crores) |
| Modernisation and redevelopment of existing products | 12.86 |
| Working capital requirements | 124.00 |
| Acquisitions, strategic initiatives and general corporate purposes | – |
SRIT India Limited–Strengths
- End-to-End Capabilities: With 26 years of experience, the company provides software development, system integration and managed services across healthcare, e-governance and telecommunications, while expanding AI-enabled applications and automation solutions.
- Diversified Order Book: Its modular technology portfolio serves multiple sectors and clients. Further, with a recent transformer monitoring project, it entered the power utilities sector and expanded its infrastructure offerings.
- Geographic Presence: The company serves clients across multiple Indian states and has executed projects in the international markets, including Qatar, UAE, Nigeria, Zambia, Bahrain, Oman and Myanmar.
- Financial Growth: Its revenue increased from ₹271.09 crore in FY24 to ₹4,50.00 crore in FY26, while PAT rose from ₹29.08 crore to ₹43.29 crore, alongside a decline in the debt-to-equity ratio.
SRIT India Limited–Risks
- Government Tender Dependence: Government entities contributed 89.41%, 91.34% and 81.84% of operating revenue in FY26, FY25 and FY24, respectively, making business performance dependent on securing and executing government contracts.
- Subcontractor Dependence: Subcontractor costs accounted for 78.92%, 80.87% and 75.42% of total expenses in FY26, FY25 and FY24, respectively. Delays, defaults or missing approvals for subcontracted maintenance could affect project execution and contractual compliance.
- Order Book Uncertainty: The company stated that its order book is subject to cancellations, modifications, delays and premature terminations. This makes it uncertain whether existing projects will translate into expected revenue and financial performance.
- Dependence on Third-Party AI Services: The ability of the company to implement AI solutions depends partly on our ability to operate with third-party products and services, including software, GPUs and infrastructure. Any failure to do so could adversely impact our operations.
SRIT India IPO–Review
The RHP indicates that the financial profile of the company has strengthened, with its EBITDA margin rising to 14.39% and PAT margin to 9.62% in FY26, while debt-equity declined to 0.23 times. Its repeat clientele also increased to 73.85%, supporting business continuity.
At the upper band of ₹130.00, the IPO implies a P/E multiple of about 13.73 times based on FY26 EPS of ₹9.47, compared to the disclosed peer-group average P/E of 18.31 times. However, the company’s working capital requirement is projected to rise sharply to ₹407.86 crore by FY28.
The ₹218.40 crore fresh issue therefore primarily supports this funding requirement, alongside product modernisation. Its ₹1,204.72 crore order book provides visibility, but there are also cautions that orders stay subject to delays, cancellations and other uncertainties.
Other Recent IPO List
Below is a list of currently open and upcoming IPOs in India in 2026:
| Bench Mark Infotech Services IPO | Moneyview IPO |
| Himalayan Solar IPO | Adroit Industries (India) IPO |
| Green Asia Impex IPO | Pooja Logistics IPO |
| Coreintegra Consulting Services IPO | Peshwa Wheat IPO |
SRIT India IPO FAQs
SRIT India IPO is a ₹218.40 crore book-built mainboard issue comprising an entirely fresh issue of 16,800,000 Equity Shares. The price band is ₹123 to ₹130 per share, and the IPO opens on 28 September 2026.
You can apply for the SRIT India IPO through the UPI facility or ASBA available through your bank account. Bids can be placed during the subscription period from 28 to 30 September 2026.
The SRIT India IPO has factors such as improved profitability, lower leverage and a sizeable order book. However, its high dependence on government contracts and substantial working capital requirements are important considerations.
Based on the latest GMP of ₹18 and the upper price band of ₹130 per share, the estimated listing price is ₹148. This indicates a potential gain of 13.85%. The GMP is unofficial and may change before listing.
The SRIT India IPO opens for subscription on 28 September 2026 and closes on 30 September 2026.
The SRIT India IPO lot size is 115 shares. At the upper price band of ₹130 per share, one retail lot requires an investment of ₹14,950.
The SRIT India IPO allotment is tentatively scheduled for 1 October 2026. The refunds and credit of shares are expected on 5 October 2026.
The SRIT India IPO is scheduled to list on NSE and BSE on 6 October 2026.
