SRIT India IPO
SRIT India IPO Details
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Open Date
28 Sep 2026
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Close Date
30 Sep 2026
- IPO Price Range
₹ 123 to ₹130
- IPO Size
₹ 218.40 Cr
SRIT India IPO Timeline
Last Updated: 25 September 2026 5:43 AM by 5paisa
SRIT India Limited is a Bengaluru-headquartered Information Technology and Information Technology enabled Services (IT/ITeS) solutions company. It provides digital solutions and system automation through custom application development and integration services. The Company has a 26-year operating track record and has designed, implemented and operated digital platforms for government entities and enterprises in India and select overseas markets.
Its operations span three key verticals: healthcare, electronic governance, and telecommunications and broadband. Over the last decade, SRIT India has executed more than 103 projects with a total order value of ₹1,234.72 crore across these verticals. Its delivery processes are appraised at CMMI Level 5, along with multiple information security and quality certifications.
Established in: 1999
Managing Director: Dr. Nambiar Raghavan Madhusoodan
Peers:
| Metric | SRIT India Limited | Mastek Limited | RailTel Corporation of India Limited | Protean eGov Technologies Limited | Allied Digital Services Limited | Aurionpro Solutions Limited |
|---|---|---|---|---|---|---|
| Face Value (₹) | 5 | 5 | 5 | 10 | 5 | 10 |
| Sales (₹ Cr) | 389.35 | 3,455.23 | 3,477.50 | 840.70 | 807.07 | 1,172.97 |
| PAT (₹ Cr) | 33.60 | 375.93 | 299.81 | 92.46 | 32.11 | 188.43 |
| EPS (₹) | 7.20 | 120.65 | 9.34 | 22.65 | 4.91 | 34.21 |
| P/E | - | 17.50 | 35.99 | 28.31 | 25.22 | 27.76 |
| RoNW (%) | 38.76 | 16.53 | 15.67 | 9.61 | 4.71 | 15.30 |
| CMP (₹) | - | 2,111.00 | 336.10 | 641.20 | 123.82 | 949.60 |
SRIT India Objectives
1. Funding capital expenditure requirements towards modernisation of existing products and redevelopment – ₹15.36 crore
2. Funding working capital requirements of the Company – ₹124.00 crore
3. Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes
SRIT India IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹218.40 Cr |
| Offer For Sale | Nil |
| Fresh Issue | ₹218.40 Cr |
SRIT India IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 115 | 14,950 |
| Retail (Max) | 13 | 1,495 | 1,94,350 |
| S-HNI (Min) | 14 | 1,610 | 2,09,300 |
| S-HNI (Max) | 66 | 7,590 | 9,86,700 |
| HNI (Min) | 67 | 7,705 | 10,01,650 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue | 151.85 | 271.09 | 389.35 |
| EBITDA | 22.51 | 40.99 | 49.81 |
| PAT | 15.04 | 29.08 | 33.60 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets | 333.41 | 428.96 | 496.64 |
| Share Capital | 26.95 | 26.95 | 20.24 |
| Total Liabilities | 281.51 | 347.87 | 402.90 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) operating activities | 10.86 | 34.16 | 17.97 |
| Net Cash Generated From / (used in) Investing Activities | -8.47 | -15.22 | -27.38 |
| Net Cash Generated From / (used in) financing activities | -1.08 | 2.07 | 0.29 |
| Net Increase (Decrease) In Cash And Cash Equivalents | 1.31 | 21.01 | -9.12 |
Strengths
1. Twenty-six years of experience in designing, implementing and operating digital platforms for government entities and enterprises.
2. Diversified operations across healthcare, electronic governance, and telecommunications and broadband.
3. An order book of approximately ₹1,280.62 crore as of September 30, 2025, spanning multiple technology and digital-service projects.
4. CMMI Level 5 appraisal and multiple quality and information-security certifications support its project-delivery capabilities.
Weaknesses
1. Revenue has a high dependence on government tenders, which contributed 91.34% of revenue from operations in FY25.
2. Customer concentration remains significant, with the top 10 customers accounting for 92.18% of FY25 revenue from operations.
3. The business is working-capital intensive because project costs can be incurred before milestone-based or back-ended customer payments are received.
4. Dependence on competitive bidding exposes the Company to unsuccessful bids, pricing pressure and fluctuations in project awards.
Opportunities
1. Growth in India's IT-BPM sector and continued digitalisation across public services could support demand for technology implementation and integration services.
2. Expansion into AI-enabled products, cyber defence, smart metering, analytics and health-tech could broaden the Company's service portfolio.
3. Planned expansion across newer domestic and international geographies could diversify its customer and project base.
4. Proposed acquisitions and strategic initiatives could add capabilities in areas such as AI, analytics, e-education, health-tech and smart metering.
Threats
1. Changes in government priorities, budget allocations or tender activity could affect the availability and timing of new projects.
2. Competitive tendering can place pressure on pricing and profitability margins.
3. Delays in project execution, changes in scope or contractual non-compliance can result in additional costs, penalties or project-related disputes.
4. Cyberattacks, ransomware, data breaches and other information-security incidents could disrupt operations or lead to financial and regulatory consequences.
1. The Company has a 26-year operating track record across healthcare, electronic governance, and telecommunications and broadband.
2. Revenue from operations increased from ₹151.85 crore in FY23 to ₹389.35 crore in FY25, while PAT increased from ₹15.04 crore to ₹33.60 crore over the same period.
3. SRIT India reported an order book of ₹1,280.62 crore as of September 30, 2025.
4. Fresh-issue proceeds are proposed to fund product modernisation and redevelopment, working capital requirements, inorganic growth and other strategic initiatives.
India's IT-BPM industry is projected in the industry report included in the DRHP to expand from USD 282.6 billion in FY2025 to USD 378 billion by FY2030, supported by increased adoption of artificial intelligence, cybersecurity, cloud infrastructure and data analytics. Government-led digitalisation is another demand driver across areas such as healthcare, public administration and digital infrastructure.
SRIT India operates across healthcare, electronic governance, and telecommunications and broadband, giving it exposure to several areas of this digital transformation. The Company had an order book of ₹1,280.62 crore as of September 30, 2025 and plans to expand its capabilities in AI-enabled solutions, smart metering and other emerging technologies while widening its domestic and international presence. Execution of the order book and future growth remain subject to project timelines, tender wins, government spending patterns and other risks disclosed in the DRHP.
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FAQs
SRIT India IPO opens on September 28, 2026 and closes on September 30, 2026.
The size of the SRIT India IPO is approximately ₹218.40 crore. The issue comprises a fresh issue of 1.68 crore equity shares and does not include an offer-for-sale component.
The price band of SRIT India IPO is fixed at ₹123 to ₹130 per equity share.
To apply for SRIT India IPO, follow the steps given below:
1. Login to your 5paisa demat account and select the issue in the current IPO section.
2. Enter the number of lots and the price at which you wish to apply for the SRIT India IPO.
3. Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
4. You will receive a mandate notification to block funds in your UPI app.
The minimum lot size is 115 shares, requiring an investment of approximately ₹14,950 at the upper end of the price band.
The share allotment date of SRIT India IPO is October 1, 2026.
The SRIT India IPO is expected to be listed on BSE and NSE on October 6, 2026.
Choice Capital Advisors Private Limited is the Book Running Lead Manager for the SRIT India IPO. KFin Technologies Limited is the registrar to the issue.
The objectives of the SRIT India IPO are:
1. Funding capital expenditure requirements towards modernisation of existing products and redevelopment.
2. Funding working capital requirements of the Company.
3. Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.