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InvestmentsIPOSRIT IPO

SRIT IPO

Mainboard

Open Date

28 Sep 2026

Close Date

30 Sep 2026

Min Investment

₹ 14,145

Lot Size

115

Issue Size

₹ 218.40 Cr

Price Range

₹ 123 - ₹ 130

Subscribed

2.91 x
Apply Now
status

IPO Open Now.

IPO Timeline
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IPO Offer Start
28 Sep 2026
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IPO Offer Ends
30 Sep 2026
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Allotment Finalisation
1 Oct 2026
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Refund Initialisation
5 Oct 2026
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Non-Institutional Buyers (sHNI)
5 Oct 2026
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Listing of Shares
6 Oct 2026
IPO Subscription Details as on 30 Sep 2026, 01:19 AM
Qualified Instituational Buyers (QiB)
0.01 x
Retail
4.2 x
Total
2.91 x
Non-Institutional Buyer (bHNI)
2.59 x
Non-Institutional Buyer (sHNI)
6.18 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
SRIT India Limited is a Bengaluru-headquartered IT/ITeS solutions company with a 26-year track record in designing, implementing, and operating digital platforms for Government entities and Enterprises across India and select overseas markets. The company operates across three verticals: healthcare, electronic governance, and telecommunications & broadband, offering custom application development, system integration, and managed services. The company has executed over 103 projects with a total order value of ₹12,347.16 million, with revenue growing from ₹2,710.88 million in FY2024 to ₹4,499.99 million in FY2026 (CAGR of 28.84%). As of June 30, 2026, the company holds an outstanding Order Book of ₹12,047.17 million and is appraised at CMMI Level 5 with multiple ISO certifications.
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Founded In

1999

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CEO

Dr. Nambiar Raghavan Madhusoodan

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DRHP

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Financials of Srit India IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2024Mar 2025Mar 2026
Operating Revenue271.09389.35450.00
Other Income11.1311.1612.54
Total Income
282.22400.50462.54
Total Expenses
243.88354.31407.59
Profit Before Tax38.3446.1954.95
Total Profit
29.0833.6043.29

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company proposes to utilize Net Proceeds towards modernization and redevelopment of its existing software products — R-Converge, RHES, and healthcare insurance/RCM platforms — including IT infrastructure upgrades and hiring of skilled technical manpower to enhance scalability, performance, and competitiveness.13
The company intends to utilize Net Proceeds to fund incremental working capital requirements arising from its working-capital-intensive operations, particularly due to milestone-based payment structures in government contracts and the strategic shift towards executing larger projects independently.124
The company proposes to deploy a portion of Net Proceeds (not exceeding a specified percentage of Gross Proceeds) towards strategic acquisitions and inorganic growth initiatives in verticals such as smart metering, AI, analytics, e-education, and health-tech to expand capabilities, enter new geographies, and access new customer bases.-
The company intends to utilize the balance Net Proceeds (not exceeding a specified percentage of Gross Proceeds) towards general corporate purposes including marketing, salaries, rent, administration expenses, technology upgrades, advisory services, and other ordinary course business requirements.-
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  • Established Track Record with End-to-End Product Solution and Integration Capabilities: The company has a 26-year legacy of designing, implementing, and operating digital platforms across healthcare, electronic governance, and telecom sectors, with CMMI Level 5 appraisal, ISO/IEC 27001:2022 certification, and over 103 projects worth ₹12,347.16 million executed in the last decade.
  • Diverse Order Book across Offerings for Multiple Clients and Geographies: The company maintains a robust Order Book of ₹12,047.17 million (as of June 30, 2026) across healthcare, electronic governance, and telecom verticals, offering modular, configurable solutions to diverse Government and Enterprise clients domestically and internationally.
  • Extensive Geographic Footprint with Scalable Operations across Key Markets: The company operates across multiple Indian states and international markets including Qatar, UAE, Nigeria, Zambia, Bahrain, Oman, and Myanmar, with domestic revenue of ₹4,246.05 million (94.03%) and international revenue of ₹253.94 million (5.97%) in Fiscal 2026.
  • Strong Financial Performance and Healthy Balance Sheet: The company's revenue from operations grew at a CAGR of 28.84% from ₹2,710.88 million (Fiscal 2024) to ₹4,499.99 million (Fiscal 2026), with PAT rising at a CAGR of 22.02% to ₹432.89 million, a PAT margin of 9.62%, and a reduced debt-to-equity ratio of 0.23 in Fiscal 2026.
  • Experienced Promoters and Senior Management Team with Domain Knowledge: The company is led by promoters with 26+ years of IT/ITeS experience, supported by senior management specializing in telecom, healthcare, and e-governance, with recent inductions of AI and healthcare domain experts strengthening its technology and sector capabilities.

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