SRIT India IPO
SRIT India IPO — dates, price band, GMP & allotment.
Timetable
Issue Summary
| Price Band | ₹123-130 |
| Face Value | ₹5 |
| Lot Size | 115 Shares |
| Issue Size | ₹218.4 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| BSE Scrip Code | 8009 |
| Min Investment | ₹14,950 |
Reservation
What Will It Cost Me?
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 115 | ₹14,950 |
| Retail (Max) | 13 | 1,495 | ₹194,350 |
| S-HNI (Min) | 14 | 1,610 | ₹209,300 |
| B-HNI (Min) | 67 | 7,705 | ₹1,001,650 |
Strengths & Risks
Strengths
- Sales have grown strongly, from Rs 282.22 crore in FY2024 to Rs 400.50 crore in FY2025 and Rs 462.54 crore in FY2026.
- Profit has grown every year, from Rs 29.08 crore in FY2024 to Rs 33.60 crore in FY2025 and Rs 43.29 crore in FY2026.
- EBITDA improved from Rs 40.99 crore in FY2024 to Rs 64.77 crore in FY2026.
- Return ratios are healthy, with RoNW of 30.23% and RoCE of 28.79%.
- The company has a long record of 26 years, having started in September 1999.
- It works in three different areas, healthcare, e-governance and telecom, so it is not dependent on one type of project.
- Net worth more than doubled in FY2026, from Rs 93.17 crore to Rs 193.27 crore, and borrowing came down from Rs 51.30 crore to Rs 36.15 crore.
- The whole issue is fresh capital with no offer for sale.
Risks
- Most of the work is for government bodies, which award projects through tenders, pay slowly and can delay or cancel spending with budget changes.
- Rs 124 crore of the Rs 218.4 crore issue goes into working capital, which shows how much cash government projects tie up before payment arrives.
- A part of the money is kept for inorganic growth through unidentified acquisitions, so investors do not know where that money will go.
- The issue is priced at about 19.29 times earnings on an EPS of Rs 6.74.
- The profit margin is moderate at 9.62%, and IT project work is priced competitively.
- Net worth doubled in a single year, so earlier year ratios are not directly comparable with the latest year.
- Technology projects carry execution risk, and a delayed or disputed government contract can hold up payment for a long time.
- Promoter holding will come down from 84.91% to 62.71% after the issue.
Valuation & Key Ratios
Financials (Rs. Crore)
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 614.16 | 496.64 | 428.96 |
| Total Income | 462.54 | 400.50 | 282.22 |
| Profit After Tax | 43.29 | 33.60 | 29.08 |
| EBITDA | 64.77 | 49.81 | 40.99 |
| NET Worth | 193.27 | 93.17 | 80.47 |
| Reserves and Surplus | 169.54 | 72.93 | 53.52 |
| Total Borrowing | 36.15 | 51.30 | 22.28 |
About The Company
SRIT India Limited was started in September 1999 and is headquartered in Bengaluru. It is an IT and IT-enabled services company providing digital solutions, custom software development and system integration. It designs, implements and runs digital platforms for government bodies and enterprises in India and some overseas markets.
It works across three areas. In healthcare it builds hospital and health information systems and digital health platforms. In electronic governance it builds e-governance solutions for government departments. In telecom and broadband it handles networking, connectivity and fibre optic infrastructure.
Its wider range covers cybersecurity, enterprise software, system integration, automation and managed services. It also offers solutions that can be configured and connected with third-party platforms, and has started developing AI enabled solutions across its main areas. With 26 years in the industry, it has built a long record of executing government technology projects.
Company & Registrar
Subscription By Category
| Category | Subscribed | Shares Offered | Shares Bid For |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 0× | 3,360,000 | — |
| Non-Institutional Investors (NII) | 0.9× | 2,520,000 | — |
| Retail Individual Investors (RII) | 1.61× | 5,880,000 | — |
| Employee | 0× | — | — |
| Shareholder | 0× | — | — |
| Total | 1× | 11,760,000 | — |
GMP History
| Date | GMP | % Over Issue Price |
|---|
Anchor Investors
| Investor | Category | Shares Allotted | Value |
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