SRIT India IPO

Mainboard • Equity • Fresh capital only

LISTEDMAINBOARDEquity

SRIT India

Price band

₹123 – ₹130

Lot size

115 shares

Min investment

₹14,950

Issue size

₹218.4 Cr

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.

SRIT India Limited is a Bengaluru IT and IT-enabled services company building digital platforms for government and enterprises across healthcare, e-governance and telecom and broadband, including health information systems, cybersecurity, fibre infrastructure and system integration. It has 26 years of experience.

IPO details

Issue price: ₹130
Price band: ₹123 – ₹130
Face value: ₹5
Lot size: 115
Min investment: ₹14,950
Issue size: ₹218.4 Cr
Sale type: Fresh capital only
Listing on: BSE, NSE
BSE scrip code: 8009
NSE symbol: SRIT.NS

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	115	₹14,950
Retail (Max)	13	1,495	₹1,94,350
S-HNI (Min)	14	1,610	₹2,09,300
B-HNI (Min)	67	7,705	₹10,01,650

Investor reservation

CATEGORY	RESERVED
QIB	84,00,000 shares (50.00% of the Offer)
NII	25,20,000 shares (15.00% of the Offer)
Retail	58,80,000 shares (35.00% of the Offer)

Objects of the issue

1Funding of capital expenditure requirements towards modernization of existing products and redevelopment12.86

2Funding working capital requirements of the Company124.00

3Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes

Financials

Rs. Crore • restated

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

Key performance indicators

P/E Ratio

19.29

EPS (₹)

6.74

RoE

30.23%

RoCE

28.79%

RoNW

30.23%

PAT Margin

9.62%

EBITDA Margin

14.39%

Debt / Equity

0.23

NAV (₹)

40.71

✓ 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.

Promoters & holding

Nambiar Raghavan Madhusoodan, Prasaktha Vakkiyl Nambiar and Martin Poovakkulam Chacko

Pre-issue promoter holding

84.91%

Post-issue promoter holding

62.71%

Promoters hold 84.91% before the issue and will hold 62.71% after it.

Data refreshed 07 Nov 2026, 04:49 pm IST. GMP is unofficial market sentiment, not investment advice.