Upcoming IPO: Srit India Files Draft Papers with SEBI to Raise Funds

Bengaluru-based software solutions company Srit India has moved forward with plans to access the primary market, outlining its fund-raising objectives and financial performance in its draft offering documents. 

IPO Structure and Use of Proceeds 

The proposed initial public offering consists entirely of a fresh issue of 1.68 crore equity shares by the company.  

Srit India plans to utilise ₹15.3 crore from the proceeds towards modernisation and redevelopment of its existing products, while ₹124 crore has been earmarked to meet working capital requirements.  

The remaining funds will be used to pursue inorganic growth through unidentified acquisitions and for general corporate purposes. 

Business Profile and Shareholding Details 

Srit India operates in the information technology and IT-enabled services segment, providing digital solutions and system automation across healthcare, electronic governance, and telecommunications and broadband verticals.  

The company’s promoters, Nambiar Raghavan Madhusoodan, Prasaktha Vakkiyl Nambiar and Martin Poovakkulam Chacko, collectively hold an 86.55% stake, while public shareholders own the remaining 13.45%.  

This includes 1.11% each held by Fortune Hands Growth Fund and Navbharat Investment Trust. 

Financial Performance and Peer Landscape 

For the 6-month period ended September 2025, Srit India reported a profit of ₹20 crore on revenue of ₹232.6 crore. In fiscal 2025, the company recorded a 15.8% increase in profit to ₹33.65 crore from ₹29 crore in the previous year. Revenue for the same period rose 43.6% to ₹389.3 crore from ₹271 crore.  

The company operates in a competitive environment alongside peers such as Mastek, Railtel Corporation of India, Protean eGov Technologies, Allied Digital Services and Aurionpro Solutions.  

Choice Capital Advisors has been appointed as the merchant banker for the IPO. 

Read More: SEBI Clears Final Hurdle: NSE IPO Gets No-Objection Certificate, Paving Way for Historic Listing! 

Conclusion 

The proposed IPO is aimed at supporting Srit India’s capital investment plans, working capital needs and expansion strategy, backed by recent revenue growth and improved profitability. 

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Investments in the securities market are subject to market risks, read all the related documents carefully before investing.