SRIT India IPO opens today: Should you apply or avoid? Check price band, reviews fresh GMP and more
SRIT India is selling its shares in the price band of Rs 123-130 apiece, applied for a minimum of 115 shares and its multiples to raise Rs 218 crore between September 28-30.
- Sep 28, 2026,
- Updated Sep 28, 2026 9:42 AM IST
The initial public offering (IPO) of SRIT India opens for subscription on Monday, September 28 and brokerage firms are largely positive on the issue led by its growth prospects, health financials and digital portfolio. The IT solutions player is selling its shares in the range of Rs 123-130 per shares with a lot size of 115 equity shares and its multiples thereafter.
The Rs 218 crore IPO of SRIT India is entirely a fresh share sale of 1,68,00,000 equity shares, which can be subscribed until Wednesday, September 30. The net proceeds from the issues shall be utilized towards funding of capital expenditure for modernization of products, working capital need, inorganic growth initiatives and general corporate purposes.
SRIT India appears reasonably valued, supported by improvement in revenue, earnings and margins. Its established regional presence across markets provides a strong base for business expansion, while the rising proportion of repeat customers reflects healthy client relationships and execution capabilities, said Religare Broking.
"It significant exposure to government orders offers visibility through large digital infrastructure and e-governance projects, although it also creates concentration. Compared with peers, SRIT maintains a good position across overall financial parameters. Considering these factors, we assign a 'subscribe for long term' rating," it added.
Incorporated in September 1999, Bengaluru-based SRIT India is an information technology and information technology enabled Services (IT/ITeS) solutions company providing digital solutions, custom application development and system integration services. It designs, implements and operates digital platforms for Government entities and Enterprises in India and select overseas markets.
SRIT India is valued at approximately 13.7 times FY26 diluted EPS of Rs.9.47. Given its strong growth prospects, healthy return ratios, low leverage, and diversified digital solutions portfolio, we recommend a 'subscribe' rating for a long-term investment horizon, said BP Equities. Key risks include high dependence on government clients and customer concentration, it said.
Ahead of its IPO, SRIT raised Rs 65.52 crore from nine anchor investors as it allocated 50.40 lakh equity shares at Rs 130 apiece. Its anchor book includes names likes Abakkus Venture Opportunities Fund, Founders Collective Fund, Taurus Mutual Fund, Saint Capital Fund, Meru Investment Fund, Steptrade Revolution Fund, Abundantia Capital VCC, Holani Venture Capital Fund and more.
SRIT India is an established IT/ITeS player: 26-year track record with CMMI Level 5 and multi-ISO certifications, with a Rs 1,204.7 crore order book across key sectors. It trades at a relative discount compared to e-governance and IT execution peers such as RailTel and Protean eGov Technologies , but at a modest valuation considering its scale relative to tier-1 IT players, said Swastika Investmart.
"Return ratios are strong with RoNW of 30.23 per cent, highest among peers. It remains well-positioned to leverage ongoing public sector digitalization, healthcare IT integration, and smart-metering initiatives. However, sustained operational performance will depend on its ability to lower working-capital cycles and diversify away from purely government-tendered contracts post-listing," it said with a 'neutral' rating.
SRIT India reported a net profit at Rs 43.29 crore with a revenue of Rs 462.54 crore for the financial year ended on March 31, 2026. It clocked a net profit at Rs 33.60 crore with a revenue of Rs 400.50 crore for FY25. At this price band, it is commanding a marketcap over 835 crore. Last heard, its grey market premium (GMP) stood at Rs 32-33 per shares, hinting at 24-25 per cent listing gains.
SRIT has executed large-scale technology projects for government and enterprise clients, including healthcare automation projects covering more than 2,200 healthcare facilities, state-level health information systems and e-governance initiatives across multiple states, said Ventura Securities with a 'neutral' rating on the issue.
SRIT India has reserved 50 per cent for qualified institutional bidders (QIBs), 15 per cent for non-institutional bidders and 35 per cent for retail investors. Choice Capital Advisors is the sole book running lead manager and Kfin Technologies is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE on Tuesday, September 06.
The initial public offering (IPO) of SRIT India opens for subscription on Monday, September 28 and brokerage firms are largely positive on the issue led by its growth prospects, health financials and digital portfolio. The IT solutions player is selling its shares in the range of Rs 123-130 per shares with a lot size of 115 equity shares and its multiples thereafter.
The Rs 218 crore IPO of SRIT India is entirely a fresh share sale of 1,68,00,000 equity shares, which can be subscribed until Wednesday, September 30. The net proceeds from the issues shall be utilized towards funding of capital expenditure for modernization of products, working capital need, inorganic growth initiatives and general corporate purposes.
SRIT India appears reasonably valued, supported by improvement in revenue, earnings and margins. Its established regional presence across markets provides a strong base for business expansion, while the rising proportion of repeat customers reflects healthy client relationships and execution capabilities, said Religare Broking.
"It significant exposure to government orders offers visibility through large digital infrastructure and e-governance projects, although it also creates concentration. Compared with peers, SRIT maintains a good position across overall financial parameters. Considering these factors, we assign a 'subscribe for long term' rating," it added.
Incorporated in September 1999, Bengaluru-based SRIT India is an information technology and information technology enabled Services (IT/ITeS) solutions company providing digital solutions, custom application development and system integration services. It designs, implements and operates digital platforms for Government entities and Enterprises in India and select overseas markets.
SRIT India is valued at approximately 13.7 times FY26 diluted EPS of Rs.9.47. Given its strong growth prospects, healthy return ratios, low leverage, and diversified digital solutions portfolio, we recommend a 'subscribe' rating for a long-term investment horizon, said BP Equities. Key risks include high dependence on government clients and customer concentration, it said.
Ahead of its IPO, SRIT raised Rs 65.52 crore from nine anchor investors as it allocated 50.40 lakh equity shares at Rs 130 apiece. Its anchor book includes names likes Abakkus Venture Opportunities Fund, Founders Collective Fund, Taurus Mutual Fund, Saint Capital Fund, Meru Investment Fund, Steptrade Revolution Fund, Abundantia Capital VCC, Holani Venture Capital Fund and more.
SRIT India is an established IT/ITeS player: 26-year track record with CMMI Level 5 and multi-ISO certifications, with a Rs 1,204.7 crore order book across key sectors. It trades at a relative discount compared to e-governance and IT execution peers such as RailTel and Protean eGov Technologies , but at a modest valuation considering its scale relative to tier-1 IT players, said Swastika Investmart.
"Return ratios are strong with RoNW of 30.23 per cent, highest among peers. It remains well-positioned to leverage ongoing public sector digitalization, healthcare IT integration, and smart-metering initiatives. However, sustained operational performance will depend on its ability to lower working-capital cycles and diversify away from purely government-tendered contracts post-listing," it said with a 'neutral' rating.
SRIT India reported a net profit at Rs 43.29 crore with a revenue of Rs 462.54 crore for the financial year ended on March 31, 2026. It clocked a net profit at Rs 33.60 crore with a revenue of Rs 400.50 crore for FY25. At this price band, it is commanding a marketcap over 835 crore. Last heard, its grey market premium (GMP) stood at Rs 32-33 per shares, hinting at 24-25 per cent listing gains.
SRIT has executed large-scale technology projects for government and enterprise clients, including healthcare automation projects covering more than 2,200 healthcare facilities, state-level health information systems and e-governance initiatives across multiple states, said Ventura Securities with a 'neutral' rating on the issue.
SRIT India has reserved 50 per cent for qualified institutional bidders (QIBs), 15 per cent for non-institutional bidders and 35 per cent for retail investors. Choice Capital Advisors is the sole book running lead manager and Kfin Technologies is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE on Tuesday, September 06.