SRIT India IPO

To be announcedInformation Technology Mainboard

IPO Details

Bidding Dates

28 Sep '26 - 30 Sep '26

Minimum Investment

₹14,950 / 1 Lot (115 Shares)

Price Range

₹123 – ₹130

Maximum Investment

₹1,94,350 / 13 Lots (1,495 Shares)

Retail Discount

N.A.

Issue Size

₹218.40 Cr

Investor category and sub category

Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB)

SRIT India IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

28 Sept '26

IPO Closing Date

30 Sept '26

Basis of Allotment

01 Oct '26

Initiation of Refunds

05 Oct '26

IPO Listing Date

06 Oct '26

Date	QIB	NII	Retail	Total
Day 1Sep 28 2026	0.00	0.90	1.61	1.18
Day 2Sep 29 2026	0.03	5.25	6.05	4.16
Day 3Sep 30 2026	91.84	312.99	63.70	125.16

About SRIT India IPO

SRIT India IPO is a book-built issue worth ₹218.40 crore. The IPO consists entirely of a fresh issue of 1.68 crore equity shares.

Choice Capital Advisors Private Limited is the book-running lead manager to the issue, and Kfin Technologies Limited is the registrar. For detailed information on the company's financials, business operations, and associated risks, investors are advised to refer to the SRIT India IPO RHP.

About SRIT India Limited

SRIT India Limited was originally incorporated as Sobha Renaissance Information Technology Private Limited on September 9, 1999, under the Companies Act, 1956. Subsequently, the company changed its name to SRIT India Private Limited on June 17, 2014, to reflect its diversification plans. It was later converted into a public limited company and renamed SRIT India Limited on May 16, 2025.

SRIT India operates as an IT and IT-enabled services (IT/ITeS) solutions provider, offering digital transformation, application development, system integration, infrastructure management, and managed services across multiple sectors. The company’s operations are organised into three key verticals: healthcare, electronic governance, and telecommunications and broadband.

The company provides a range of technology solutions, including healthcare platforms such as RHES, digital governance solutions such as e-Civic and PlanPermit, telecommunications support systems, cybersecurity services, cloud infrastructure, data analytics, and artificial intelligence-enabled applications. Its offerings are designed to help organisations improve operational efficiency, automate processes, and enhance service delivery.

SRIT India has established a strong presence in government-led digital transformation projects across India, while also serving enterprise clients. Government customers contributed a significant share of the company’s revenue during the last three financial years, reflecting its experience in executing large-scale public sector projects.

The company’s growth strategy focuses on enhancing its technology capabilities, expanding artificial intelligence and cloud-based solutions, strengthening recurring revenue streams, entering new domestic and international markets, and pursuing strategic acquisitions and partnerships. Through these initiatives, SRIT India aims to deepen its participation in India's digital infrastructure and technology ecosystem.

Industry Outlook

India’s IT and Business Process Management (IT-BPM) sector continues to expand, driven by accelerating digital transformation across government, healthcare, telecommunications, and enterprise sectors.

Government agencies are increasingly investing in digital governance platforms, citizen services automation, public digital infrastructure, and cloud-based systems, creating substantial opportunities for technology service providers.

The healthcare technology segment is witnessing increased adoption of electronic health records, hospital information systems, insurance automation platforms, and AI-enabled healthcare solutions.

Telecommunications and broadband infrastructure development, supported by rising internet penetration and digital connectivity initiatives, is expected to drive demand for network management, broadband services, and telecom software platforms.

Artificial intelligence, machine learning, cloud computing, automation, and analytics are becoming key growth drivers, transforming how organisations deliver services and manage operations.

The sector remains highly competitive, with established IT companies, specialised digital solution providers, and emerging technology firms competing on innovation, execution capabilities, and pricing.

Growing demand for digital infrastructure, cybersecurity, cloud migration, and technology modernisation is expected to support long-term growth opportunities within the Indian IT-BPM industry.

SRIT India IPO Objectives

The company proposes to utilise the net proceeds from the IPO for the following objectives:

Invest ₹128.57 million towards capital expenditure for modernisation, redevelopment, and technology enhancement of existing products and platforms.
Strengthen healthcare technology offerings, including upgrades to RHES, OP LIVE, and healthcare insurance and revenue cycle management platforms.
Meet incremental working capital requirements amounting to approximately ₹1,240.00 million to support business growth and project execution.
Support expansion of cloud, artificial intelligence, and digital transformation capabilities across key business verticals.
Pursue inorganic growth opportunities through acquisitions and strategic initiatives, although no specific target has been identified as of the RHP date.
Enhance operational scalability and strengthen the company’s technology infrastructure to support future growth.
Utilise a portion of the proceeds for general corporate purposes in accordance with applicable regulations.

Financial Performance of SRIT India Limited

Particulars	FY26	FY25	FY24
Revenue from Operations (₹ Mn)	4,499.99	3,893.47	2,710.88
Revenue from Operations Growth (%)	15.58	43.62	78.53
EBITDA (₹ Mn)	647.74	498.09	409.85
EBITDA Margin (%)	14.39	12.79	15.12
PAT (₹ Mn)	432.89	336.04	290.76
PAT Margin (%)	9.62	8.63	10.73
Net Worth (₹ Mn)	1,932.72	931.65	804.70
ROE/ RoNW (%)	30.23	38.76	44.11
ROCE (%)	28.79	37.42	47.52

SRIT India Limited Peer Details Comparison

Name of the Company	Revenue from Operations (₹ Mn)	Face Value (₹ per share)	Basic EPS (₹)	Diluted EPS (₹)	NAV per Share (₹)	P/E	RoNW (%)
SRIT India Limited	3,893.47	5	7.20	7.20	23.02	[●]	38.76
Mastek Limited	34,552.30	5	121.78	120.65	795.85	17.50	16.53
Railtel Corporation of India Limited	34,775.00	5	9.34	9.34	62.31	35.99	15.67
Protean eGov Technologies Limited	8,407.00	10	22.83	22.65	246.32	28.31	9.61
Allied Digital Services Limited	8,070.70	5	4.98	4.91	106.73	25.22	4.71
Aurionpro Solutions Limited	11,729.67	10	34.72	34.21	279.89	27.76	15.30

Strengths and Opportunities of SRIT India IPO

Strong presence across healthcare, electronic governance, and telecommunications sectors, providing business diversification.

Established track record in executing large-scale government digital transformation projects across India.

Revenue from operations increased from ₹2,710.88 million in FY24 to ₹4,499.99 million in FY26, demonstrating robust growth.

Profit after tax grew from ₹290.76 million in FY24 to ₹432.89 million in FY26.

Strong order book of ₹12,047.17 million as of June 30, 2026, providing future revenue visibility.

High repeat-client percentage of 73.85%, indicating strong customer retention and long-term relationships.

Growing focus on artificial intelligence, cloud solutions, cybersecurity and analytics-driven offerings.

Relatively low debt-equity ratio of 0.23 in FY26, supporting financial flexibility.

Opportunities to expand into international markets and pursue strategic acquisitions for future growth.

Risks and Threats of SRIT India IPO

Heavy dependence on government customers, which accounted for 89.41% of FY26 revenue from operations.

High customer concentration, with the top 10 customers contributing 89.36% of FY26 revenue.

Significant reliance on the electronic governance segment, which contributed 68.39% of FY26 revenue.

Success depends on winning competitive government tenders and maintaining qualification criteria.

Trade receivables and contract assets constituted approximately 63.27% of total assets in FY26, indicating working capital intensity.

Negative operating cash flow of ₹121.01 million in FY26 despite reporting profitability.

Dependence on subcontractors and third-party vendors may expose the company to execution delays and operational challenges.

Exposure to cybersecurity threats, data breaches and evolving technology risks could impact operations and reputation.

Proposed acquisitions remain unidentified, creating uncertainty regarding deployment and returns from a portion of the IPO proceeds.

SRIT India IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Issue
NII Shares Offered	Not less than 15% of the Net Issue
Retail Shares Offered	Not less than 35% of the Net Issue

SRIT India IPO Promoter Holding

The promoters of the company are Nambiar Raghavan Madhusoodan, Prasaktha Vakkiyl Nambiar and Martin Poovakkulam Chacko.

Share Holding Pre-Issue	86.55%
Share Holding Post Issue	-

SRIT India IPO Prospectus

SRIT India IPO DRHP

SRIT India IPO Registrar and Lead Managers

SRIT India IPO Lead Managers

Choice Capital Advisors Private Limited

Registrar for SRIT India IPO

KFin Technologies Limited

Contact Number: 040-79615565

Email Address: compliance.corp@kfintech.com

SRIT India IPO Registrar

How To Apply for SRIT India IPO Online?

Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.

Locate the IPO Section: Navigate to the 'IPO' section on the platform.

Select IPO: Find and select the SRIT India IPO from the list of open IPOs.

Enter the Lot Size: Specify the number of lots you want to bid for.

Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.

Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How To Check the Allotment Status of the SRIT India IPO?

Steps to check IPO allotment status on Angel One’s app:

Go to the IPO Section and then to IPO Orders.

Select the individual IPO that you had applied for and check the allotment status.

Angel One will notify you of your IPO allotment status via push notification and email.

Don't miss the next investment opportunity - browse the Upcoming IPO on Angel One.

Contact Details of SRIT India IPO

Registered Office: SRIT House, #113/1B, ITPL Main Road, Kundalahalli, Bengaluru, Karnataka, 560037.

Phone: +91-80419 51999

E-mail: cs.nidhi@sritindia.com

Website: http://www.sritindia.com/

How to Apply in IPO
How to Check IPO Allotment Status

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

SRIT India IPO FAQs

What minimum lot size can retail investors subscribe to?

The lot size for the SRIT India IPO has not yet been announced. The minimum investment amount will be available once the IPO price band and lot size are announced.

When will the SRIT India IPO be allotted?

The basis of allotment for the SRIT India IPO has not yet been announced. Investors can check their allotment status after it is finalised through the registrar or stock exchange websites.

How to increase your chances of getting a SRIT India IPO allotment?

Multiple Submissions: Use different Demat accounts belonging to different eligible applicants to make separate applications.

Price Bidding: Opt for bidding at the cut-off price or the upper price band to avoid the application being rejected due to a lower bid.

Timely Subscription: Ensure you submit your IPO application within the specified subscription period and complete the required application process before the deadline.

Application Details: Check your PAN, Demat account, bank account and UPI details carefully before submitting the application to avoid rejection due to errors.

How do I approve the UPI mandate request for the SRIT India IPO?

After submitting your IPO application, you will receive a UPI mandate request in your chosen UPI app. Review the details and approve the mandate before the specified deadline to complete your application.

Can I submit more than one application for the public issue of SRIT India Limited using one PAN?

No, you should not submit multiple IPO applications using the same PAN under the same investor category. Multiple applications with the same PAN may be rejected as invalid during the allotment process.

What is 'pre-apply' for SRIT India Limited IPO?

Pre-apply allows investors to submit their IPO application before the public issue officially opens for subscription. The application is saved in advance and is processed when the IPO opens.

If I pre-apply for the SRIT India Limited IPO, when will my order get placed?

If you pre-apply, your order will be placed once the IPO opens for subscription. You must also approve the UPI mandate within the prescribed timeline for the application to remain valid.

When will I know if my SRIT India Limited IPO order is placed?

You will receive a confirmation once your IPO order has been successfully placed on the exchange. You will also receive notifications through your email and SMS.

Where is the SRIT India Limited IPO getting listed?

The SRIT India Limited IPO is proposed to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The listing date has not yet been announced.