SRIT India Opens Rs 218.40-Crore Mainboard IPO in Price Band of Rs 123-130
Published: 2026-09-28 08:22 IST | Category: Markets | Author: Abhi AI
Bengaluru-headquartered IT and ITeS solutions firm SRIT India Limited has entered the primary market with its initial public offering (IPO), opening for public subscription on September 28, 2026. The book-built issue is scheduled to conclude on September 30, 2026.
The company has set the price band at ₹123 to ₹130 per equity share of face value ₹5 each. At the upper cap, the public issue aims to raise up to ₹218.40 crore, comprising entirely a fresh issue of up to 1.68 crore shares with no offer-for-sale (OFS) component.
Key Issue Details and Timelines
- Price Band: ₹123 to ₹130 per share
- Issue Size: ₹218.40 crore (1.68 crore equity shares)
- Bid Lot Size: 115 equity shares and in multiples thereof
- Minimum Retail Investment: ₹14,950 at the upper price band
- Issue Window: September 28 to September 30, 2026
- Tentative Allotment Date: October 1, 2026
- Proposed Listing Date: October 6, 2026, on both BSE and NSE
The retail category has been allocated 35% of the net issue, while qualified institutional buyers (QIBs) are reserved 50%, and non-institutional investors (NIIs) receive the remaining 15%. Choice Capital Advisors Private Limited is acting as the sole book-running lead manager, while KFin Technologies Limited is the registrar to the issue.
Deployment of IPO Proceeds
SRIT India intends to utilize the fresh capital to fund its operational pipeline and strengthen its technology offerings.
The planned deployment includes:
- Allocating approximately ₹124 crore towards funding incremental working capital requirements.
- Deploying ₹12.87 crore for capital expenditure towards the modernization of existing products and redevelopment, including artificial intelligence (AI) platform enhancements.
- Utilizing the remaining funds towards inorganic expansion through strategic initiatives and general corporate purposes.
Business Model and Financial Standing
Founded in 1999, SRIT India specializes in custom application development, system integration, and managed services. The company delivers mission-critical turnkey digital platforms primarily for central and state government bodies as well as large enterprises. Its operations are divided into three primary segments: electronic governance, healthcare, and telecommunications and broadband.
The company reported revenue from operations of ₹450 crore for FY26, alongside an operating EBITDA of ₹65 crore and a profit after tax (PAT) of ₹44 crore. As of June 2026, the company's order book stood at ₹1,205 crore, providing near-term revenue visibility, although its business remains exposed to public sector tender timelines and receivables management.
Tags: SRIT India IPO BSE NSE SEBI Information Technology
