SRIT India IPO: Price Band, Dates, Financials and Business Overview
· 4 min read · Written by the BuyUnlistedShares desk. Information only, not investment advice.
SRIT India, a Bengaluru-based IT solutions company serving healthcare, e-governance and telecom, is launching a ₹218.4-crore fresh-issue IPO from September 28 to 30, 2026. Here is a clear breakdown of the issue details, financials and objects of the offer.
Reviewed by BuyUnlistedShares Research Desk.
SRIT India Limited, a Bengaluru-headquartered IT and IT-enabled services company, is opening its mainboard IPO on September 28, 2026. The issue is entirely a fresh issue, with no offer for sale by existing shareholders, and the proceeds will largely go toward the company's own working capital and growth needs.
This article covers the key issue details, the company's business, its financial performance, how the proceeds will be used, and the risks the company itself has highlighted.
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SRIT India IPO: Key Details at a Glance
The company filed its draft red herring prospectus (DRHP) with SEBI on January 29, 2026. Bids can be placed for a minimum of 115 shares and in multiples thereof, through UPI or ASBA.
About SRIT India: What the Company Does
Incorporated in September 1999 as Sobha Renaissance Information Technology Private Limited, the company was renamed SRIT India Private Limited in 2014 and converted into a public limited company in May 2025. It designs, implements and operates digital platforms for government bodies and enterprises. Key points:
• Operates across three verticals: healthcare, e-governance, and telecommunications and broadband.
• Product and service range includes hospital information management systems, digital health suites, municipal and e-governance platforms, cybersecurity, enterprise networking, optical fibre connectivity and AI-enabled automation software.
• Has executed over 103 projects with a cumulative order value of more than ₹1,234 crore.
• Holds CMMI Level 5 and ISO 27001 certifications.
• Has an overseas presence in markets including Qatar, UAE, Nigeria, Zambia, Bahrain, Oman and Myanmar.
• Promoters are not selling any shares in the offer and are expected to hold about 62.71% after the issue.
Financial Performance: FY25 vs FY26
Revenue growth of 15.58% in FY26 compares with 43.62% in FY25 and 78.53% in FY24, showing continued expansion at a slower pace. Other reported ratios for FY26 include:
• Return on equity (ROE): about 30.23%
• Return on capital employed (ROCE): about 28.79%
• Total borrowings: about ₹36.15 crore (debt-to-equity of roughly 0.23x)
• Asking price-to-earnings multiple: about 19.3x on FY26 earnings
Note: figures above follow the numbers cited in IPO coverage of the offer document; some data providers present earlier-year numbers on a different consolidated basis, so readers should verify against the RHP.
How the IPO Proceeds Will Be Used
The total estimated utilisation identified from the net proceeds stands at ₹136.86 crore, with the remainder directed to inorganic growth and general corporate purposes.
Key Risks Highlighted in the Offer Document
• Heavy dependence on government work: the government segment made up about 89.41% of FY26 revenue, against 10.59% from enterprise clients, and many projects are won through competitive tenders.
• Working capital intensity: reported operating cash flow was negative (about -₹12.10 crore) in FY26, with a government receivables cycle of roughly 169 days.
• Growth is moderating compared with earlier years.
• Intense competition, rapid technology change and the need to retain skilled talent.
• The offer document notes there are no directly listed peers for comparison.
Grey market premium (GMP) figures reported in recent days are unofficial and can change quickly; they do not indicate listing performance.
Important Dates for the IPO Timeline
Frequently Asked Questions
1. What is the SRIT India IPO price band?
The price band is ₹123 to ₹130 per equity share, with a face value of ₹5.
2. When does the SRIT India IPO open and close?
It opens on September 28, 2026 and closes on September 30, 2026.
3. What is the lot size and minimum investment?
The lot size is 115 shares, which works out to ₹14,950 at the upper price band.
4. How big is the IPO and is there an offer for sale?
The issue size is ₹218.40 crore, made up entirely of a fresh issue of 1.68 crore shares. There is no offer-for-sale component.
5. What does SRIT India do?
SRIT India is a Bengaluru-based IT/ITeS company providing digital platforms, custom application development and system integration across healthcare, e-governance and telecom and broadband.
6. How will the IPO proceeds be used?
Funds are earmarked mainly for working capital (₹124 crore) and modernisation of existing products (₹12.86 crore), with the rest for inorganic growth and general corporate purposes.
7. When will shares be allotted and listed?
Allotment is expected to be finalised on October 1, 2026, shares are credited by October 5, and listing on BSE and NSE is scheduled for October 6, 2026.
8. Who are the lead manager and registrar?
Choice Capital Advisors Pvt. Ltd. is the book-running lead manager, and KFin Technologies Ltd. is the registrar.
Disclaimer:
This is written for educational and informational purposes only. Nothing here constitutes investment advice or a recommendation to buy or sell securities. All data is sourced from publicly available information. Investments in securities markets are subject to market risks — please read all offer documents carefully before investing.
