IPO Overview
SRIT India Limited, a Bengaluru‑headquartered provider of IT and IT‑enabled services, announced the opening of its Initial Public Offering on Monday, 28 September 2026. The issue aims to raise a maximum of ₹218.4 crore, representing the upper end of the price band.
Issue Details
The IPO consists of up to 16,800,000 equity shares, each having a face value of ₹5. The price band is set between ₹123 and ₹130 per share, and the lot size is fixed at 115 shares. The total issue size therefore equals ₹218.4 crore when priced at the upper band.
Allocation
The allocation framework mandates that no more than 50 % of the issue be allotted to Qualified Institutional Buyers (QIBs), at least 15 % to Non‑Institutional Investors (NII), and a minimum of 35 % to individual retail investors.
Use of Proceeds
Net proceeds from the offering will be directed towards funding capital expenditure for modernization of existing products and redevelopment, meeting working‑capital requirements, pursuing inorganic growth through undisclosed acquisitions, and other general corporate purposes.
Timeline
Anchor bidding is scheduled for Friday, 25 September 2026. The issue will open for subscription on 28 September 2026 and will close on Wednesday, 30 September 2026.
Lead Managers & Registrars
Choice Capital Advisors Private Limited is appointed as the Book‑Running Lead Manager, while KFin Technologies Limited serves as the Registrar for the issue.
Management Commentary
Dr. Nambiar Raghavan Madhusoodan, Managing Director & Chief Executive Officer of SRIT India Limited, stated that the IPO marks a significant milestone after more than two and a half decades of operation, highlighting the company’s capabilities in designing, implementing and operating mission‑critical digital platforms across e‑governance, telecommunications, broadband and healthcare. He emphasized that the deployment of net proceeds will support product modernization, working‑capital needs and strategic growth initiatives.
Mr. Ratiraj Tibrewal, Director of Choice Capital Advisors Private Limited, noted that SRIT has an outstanding order book of ₹12,047.17 million as of 30 June 2026. He added that for fiscal year 2026 the company recorded revenue of ₹4,499.99 million, operating EBITDA of ₹647.74 million and profit after tax of ₹432.89 million.
Financial Highlights
During FY26, SRIT achieved revenue of ₹4,499.99 million, an EBITDA margin of 14.39 % (EBITDA ₹647.74 million) and a PAT margin of 9.62 % (PAT ₹432.89 million). The company’s delivery processes are certified at CMMI V3.0 (DEV) Maturity Level 5 and hold nine ISO certifications covering information security, IT service management, quality, environmental and occupational health and safety.
Disclaimers
The release contains forward‑looking statements that are subject to risks and uncertainties, including government actions, political or economic developments, and technological risks. The company does not undertake any obligation to update these statements. The press release is provided under an arrangement with PNN; PTI assumes no editorial responsibility.