SRIT India IPO: dates, price band, lot size and GMP
SRIT India IPO listed on 6 Oct at ₹148 (NSE, BSE). Issue dates 28 – 30 Sep 2026, price band ₹123 – ₹130, lot 115 shares. The shares now trade on the exchange; any pre-IPO price on this site is historical.
Updated 6 Oct 2026, 12:18 IST. Dated dealer references.
BuyUnlistedShares tracks 197 IPOs on its calendar; the SRIT India IPO has a price band of ₹123 – ₹130, a lot of 115 shares and no grey-market premium reported yet as of 06 Oct 2026.
Key details
| Board | Mainboard |
|---|---|
| Issue dates | 28 – 30 Sep 2026 |
| Price band | ₹123 – ₹130 |
| Lot size | 115 shares |
| Issue size | ₹218.40 Cr |
| Fresh issue | ₹218.4 Cr |
| Subscription | 125.16x |
| Registrar | Kfin Technologies Ltd. |
| Lead managers | Choice Capital Advisors Pvt.Ltd. |
| Status | Listed |
Timeline
- Issue opens: 28 Sep
- Issue closes: 30 Sep
- Allotment: 1 Oct
- Refunds: 5 Oct
- Demat credit: 5 Oct
- Listing: 6 Oct
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 91.84x |
| NII | 312.99x |
| sNII | 227.37x |
| bNII | 355.8x |
| Retail | 63.7x |
| Total | 125.16x |
Last updated 30 Sep 2026, 5:56 PM IST.
Issue details
| Face value | ₹5 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE, BSE |
| Market cap at the upper band | ₹835.53 Cr |
| P/E (pre-issue) | 14.25x |
| P/E (post-issue) | 19.29x |
| Fresh issue (shares) | 1,68,00,000 |
| Total shares offered | 1,68,00,000 |
| Promoter holding pre-issue | 84.91% |
| Promoter holding post-issue | 62.71% |
| Promoters | Nambiar Raghavan Madhusoodan, Prasaktha Vakkiyl Nambiar, Martin Poovakkulam Chacko |
| Lead managers | Choice Capital Advisors Pvt.Ltd. |
| Registrar phone | 040-79615565 |
| Registrar email | compliance.corp@kfintech.com |
| Company website | sritindia.com |
| Anchor bid date | 25 Sep 2026 |
| Anchor lock-in ends (50%) | 31 Oct 2026 |
| Anchor lock-in ends (remaining) | 30 Dec 2026 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 1 | 115 | ₹14,950 |
| Retail (maximum) | 14 | 1,610 | ₹2,09,300 |
| sNII (minimum) | 14 | 1,610 | ₹2,09,300 |
| bNII (minimum) | 67 | 7,705 | ₹10,01,650 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| Anchor Investor | 30% | 50,40,000 | |
| QIB | 20% | 33,60,000 | Not more than 50% of the Net Issue |
| NII (HNI) | 15% | 25,20,000 | Not less than 15% of the Net Issue |
| sNII | 5% | 8,40,000 | |
| bNII | 10% | 16,80,000 | |
| Retail | 35% | 58,80,000 | Not less than 35% of the Net Issue |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 28 Sep | 0.00x | 0.90x | 1.65x | 0.53x | 1.61x | 1.00x |
| Day 2 · 29 Sep | 0.03x | 5.25x | 8.53x | 3.61x | 6.05x | 4.16x |
| Day 3 · 30 Sep | 91.84x | 312.99x | 227.37x | 355.80x | 63.70x | 125.16x |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹9.12 |
|---|---|
| EPS (post-issue) | ₹6.74 |
| P/E (pre-issue) | 14.25x |
| P/E (post-issue) | 19.29x |
| RoNW | 30.23% |
| RoCE | 28.79% |
| RoE | 30.23% |
| PAT margin | 9.62% |
| EBITDA margin | 14.39% |
| Price / book | 3.19x |
| NAV per share | ₹40.71 |
| Debt / equity | 0.23 |
| Market cap (upper band) | ₹835.53 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 614.16 | 496.64 | 428.96 | +23.7% |
| Total Income | 462.54 | 400.5 | 282.22 | +15.5% |
| Profit After Tax | 43.29 | 33.6 | 29.08 | +28.8% |
| EBITDA | 64.77 | 49.81 | 40.99 | +30% |
| NET Worth | 193.27 | 93.17 | 80.47 | +107.4% |
| Reserves and Surplus | 169.54 | 72.93 | 53.52 | +132.5% |
| Total Borrowing | 36.15 | 51.3 | 22.28 | −29.5% |
About SRIT India
SRIT India Ltd. is an India-based Information Technology and Information Technology-enabled Services ("IT/ITeS") company headquartered in Bengaluru, specialising in digital transformation and system automation through bespoke application development and systems integration. Over the past twenty-six years, the company has built deep capabilities in conceptualising, deploying, and managing digital platforms for government organisations and enterprise clients across India and select international markets.
Its business operations are aligned across three principal verticals: (i) Healthcare, (ii) Electronic Governance, and (iii) Telecommunications and Broadband.
Its ongoing and completed engagements include the delivery of AI-enabled solutions for public safety and transportation systems; end-to-end computerisation of core and ancillary operations for a state-owned beverage distribution and retail corporation; and the development, maintenance, and handholding support of multiple digital platforms such as Supply Management Information Systems, Health Management Information Systems, e-Prescription platforms, and online licensing solutions.
As of September 30, 2025, its outstanding order book stood at ₹12,806.21 million. Over the last decade, the company has successfully executed over 103 projects, representing a cumulative order value of ₹12,347.16 million, across the healthcare, electronic governance, and telecommunications and broadband sectors.
The company serves a broad and diversified customer base comprising: (i) government bodies and public sector entities, including Central, State, and local government departments and institutions that procure technology solutions for administrative, infrastructure, and public service delivery purposes (collectively, "Government"); and (ii) private sector businesses and enterprises (collectively, "Enterprises").
Objects of the issue
- Funding of capital expenditure requirements towards modernization of existing products and redevelopment — ₹12.86 Cr
- Funding working capital requirements of the Company — ₹124 Cr
- Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes — ₹55.13 Cr
- Issue Expenses — ₹26.42 Cr
Net proceeds: ₹218.4 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| SRIT India Ltd. (issuer) | 9.47 | 9.47 | 40.71 | — | 30.23% | — | Consolidated |
| Mastek Ltd. | 130.45 | 129.5 | 965.11 | 12.59x | 14.81% | 1.69 | — |
| Railtel Corp.Of India Ltd. | 10.79 | 10.79 | 70.47 | 24.03x | 16.25% | 3.7 | — |
| Protean Egov Technologies Ltd. | 24.7 | 24.7 | 265.23 | 19.8x | 9.69% | 1.84 | — |
| Allied Digital Services Ltd. | 6.3 | 6.25 | 21.71 | 15.52x | 5.85% | 4.57 | — |
| Aurionpro Solutions Ltd. | 38.9 | 37.87 | 322.9 | 18.62x | 13.06% | 2.19 | — |
Notes: Financial information of the Company is derived from the Restated Consolidated Financial Information. All the financial information for listed industry peers mentioned above is sourced from the audited financial statements of the relevant companies for Fiscal 2026, as available on the websites of the Stock Exchanges and the respective company website. P/E figures for the peers are computed based on closing market price as on September 17, 2026 on NSE, divided by Diluted EPS for the Financial Year ended March 31, 2026.
Strengths (per the offer document)
- Diverse Order Book across offerings for multiple clients & geographies — Our product portfolio spans the healthcare, electronic governance, and telecommunications and broadband verticals.
- Extensive geographic footprint with scalable operations across key markets — While our Company has its Registered and Corporate Office in Bengaluru, Karnataka we have established a geographically diversified presence across India and select international markets, enabling us…
- Strong financial performance and healthy balance sheet — We have established a track record of strong and consistent financial performance.
- Experienced Promoters and Senior Management team, having domain knowledge — Our Company has achieved significant growth and strong financial performance under the leadership and guidance of our Promoters.
Risk factors (as disclosed by the company)
- Majority of our projects have been awarded through competitive bidding process — We are a Bengaluru-headquartered Information Technology and Information Technology enabled Services (“IT/ITes”) solutions company offering digital solutions and automations of systems through custom…
- Our business is heavily dependent on tenders from Government entities, accounting for approximately 92.23%, 91.34%, 81.84% — Government clients, in particular, are placing increased emphasis on past implementation track records, cybersecurity readiness, and data localization capabilities.
- A significant portion of our revenue from operations is attributable to our top ten customers accounting for approximately 94.12%, 92.18% — A significant portion of our revenue from operations is attributable to our top ten customers accounting for approximately 94.12%, 92.18%, 91.71% and 91.20% of our total revenue from operations, for…
- The majority of our Order Book and revenue from operations are from the projects undertaken for the electronic governance sector with such projects accounting… — political, or economic changes in this sector could adversely affect our business, results of operations, financial condition, and cash flows A significant portion of our Order Book value and our…
- Trade receivables and contract assets form a substantial part of our current assets and net worth — Our business is working capital intensive and hence, trade receivables and contract assets form a substantial part of our net worth.
- Our growth, in part, depends on our ability to maintain successful relationship with our business collaboration and consortium partners and any breakdown… — As part of our strategic business model, we partner with third-party IT companies to deliver bundled, integrated solutions to our customers.
- There have been instances of non-compliances and delay in filings with respect to regulatory filings under the Companies Act — similar or other instances of non-compliance in the future.
- Our business and operations may be impacted by litigations to which we are not first and direct parties to — Our business and operations may be impacted by litigations to which we, or any of our Directors are not parties, but which may have an impact on the tenders awarded to us.
From the DRHP (strengths pages 209–212, risk factors pages 43–51). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF) · RHP (PDF)
Track this issue
- SRIT India IPO GMP today and trend
- SRIT India IPO subscription status, day by day
- SRIT India IPO allotment status and how to check
Frequently asked questions
When does the SRIT India IPO open and close?
The issue is scheduled for 28 – 30 Sep 2026.
What is the SRIT India IPO price band?
The price band is ₹123 – ₹130 per share with a lot size of 115 shares.
How big is the SRIT India IPO?
The total issue size is ₹218.40 Cr.
When will SRIT India list?
The tentative listing date is 6 Oct on the main board.
How do I apply for the SRIT India IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), SRIT India · as filed with SEBI · bseindia.com
- Red herring prospectus (RHP), SRIT India · as filed · sebi.gov.in
- Registrar allotment page, Kfin Technologies Ltd. · allotment 1 Oct · ipostatus.kfintech.com
- NSE public issues page · listing 6 Oct · nseindia.com
- BSE public issues page · listing 6 Oct · bseindia.com
- SRIT India company website · sritindia.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 6 Oct, 04:07 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “SRIT India IPO”, https://buyunlistedshares.com/ipo/srit-india-ipo, as of 06 Oct 2026.
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- Jio Platforms IPO · 21 – 23 Oct 2026
Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk: the unlisted and pre-IPO dealing desk of Gayatri Financial Synergy, Faridabad, in the market since 2002. Reviewed by the BuyUnlistedShares desk before publishing. Data as of 06 Oct 2026.
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