SRIT INDIA LIMITED IPO
Offer terms, application timeline, financial context and company details in one place.
Price per share₹130115 shares per lot · indicative
Opens28 Sept 2026
Closes30 Sept 2026
AllotmentNot reported
Listing6 Oct 2026
Offer
Issue at a glance
- Issue size
- ₹218.4 crore
- Face value
- ₹5
- Issue method
- 100% Book Building
- Fresh issue
- ₹218.4 crore
- Symbol
- SRIT
- ISIN
- INE307K01028
Demand
As of 1 Oct 2026, 12:00 amSubscription
88.83×overall subscribed
| Investor category | Applications | Shares bid | Subscribed |
|---|---|---|---|
| Qualified Institutional Buyers(QIBs) | — | 20,45,10,365 | 60.87× |
| Foreign Institutional Investors(FIIs) | — | 2,16,12,065 | — |
| Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 10,48,70,340 | — |
| Mutual funds | — | 53,91,085 | — |
| Others | — | 7,26,36,875 | — |
| Non Institutional Investors | — | 57,99,70,530 | 230.15× |
| Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | — | 44,51,24,865 | 264.96× |
| Corporates | — | 29,94,830 | — |
| Individuals(Other than RIIs) | — | 42,87,46,910 | — |
| Others | — | 1,33,83,125 | — |
| Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | — | 13,48,45,665 | 160.53× |
| Corporates | — | 3,90,770 | — |
| Individuals(Other than RIIs) | — | 13,04,26,905 | — |
| Others | — | 40,27,990 | — |
| Retail Individual Investors(RIIs) | — | 26,02,14,985 | 44.25× |
| Cut Off | — | 21,76,88,445 | — |
| Price bids | — | 4,25,26,540 | — |
| Total | — | 1.04 | 88.83× |
Business
About the company
Incorporated in September 1999, SRIT India Limited is a Bengaluru-headquartered Information Technology and Information Technology enabled Services (IT/ITeS) solutions company providing digital solutions, custom application development and system integration services. With 26 years of industry experience, the Company designs, implements and operates digital platforms for Government entities and Enterprises in India and select overseas markets.The Company operates across three verticals: healthcare, electronic governance, and telecommunications and broadband. Its offerings include healthcare information systems, digital health platforms, e-governance solutions, cybersecurity, enterprise software, networking, connectivity, fibre optic infrastructure, system integration, automation and managed services.
Performance
Financial snapshot
| Particulars | FY25 | FY26 |
|---|---|---|
| Revenue | ₹389.35 cr | ₹449.99 cr (15.57%) |
| PAT | ₹33.60 cr | ₹19.92 cr (-40.71%) |
| PAT Margin | 8.63 % | 4.43 % (-48.67%) |
| EBITDA | ₹49.81 cr | ₹32.07 cr (-35.62%) |
| EBITDA Margin | 12.79 % | 7.13 % (-44.25%) |
| ROE | 36.07 % | 10.31 % |
| ROCE | 37.42 % | 28.79 % |
| D/E | 0.55 | 0.19 |
Research
What to consider
Business strengths
- Established End-to-End CapabilitiesThe company has an established track record in conceptualising, developing, deploying and managing technology solutions. Its capabilities span bespoke application development, systems integration and ongoing platform support.
- Diversified Order BookSRIT India has an order book spread across multiple offerings, customers and geographies. As of September 30, 2025, its outstanding order book stood at ₹1,280.62 crore.
- Wide Geographic & Sector PresenceThe company has executed more than 103 projects across healthcare, electronic governance, and telecommunications and broadband. Its client base includes government organisations, public-sector entities and private enterprises across multiple markets.
Key risks
- Dependence on Competitive BiddingA majority of the company's projects are awarded through competitive bidding. Failure to qualify for, win or successfully complete new contracts could adversely affect its business, financial condition, operating results, growth prospects and cash flows.
- High Dependence on Government TendersGovernment entities contributed approximately 92.23%, 91.34%, 81.84% and 88.44% of revenue from operations for the six months ended September 30, 2025 and FY2025, FY2024 and FY2023, respectively. Delays or reductions in government tenders, changes in government policies, or contract foreclosures, terminations, restructuring or renegotiations could materially affect the company's operations and financial performance.
- High Customer ConcentrationThe company's top ten customers contributed approximately 94.12%, 92.18%, 91.71% and 91.20% of revenue from operations for the six months ended September 30, 2025 and FY2025, FY2024 and FY2023, respectively.
Context
Peer comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) |
|---|---|---|---|---|
| SRIT India Ltd. | 9.47 | 9.47 | 40.71 | 30.23 |
| Mastek Ltd. | 130.45 | 129.50 | 965.11 | 12.59 |
| Railtel Corp.Of India Ltd. | 10.79 | 10.79 | 70.47 | 24.03 |
| Protean Egov Technologies Ltd. | 24.70 | 24.70 | 265.23 | 19.80 |
| Allied Digital Services Ltd. | 6.30 | 6.25 | 21.71 | 15.52 |
| Aurionpro Solutions Ltd. | 38.90 | 37.87 | 322.90 | 18.62 |
Filings
Offer documents
Advertisement5 Oct 2026Final Prospectus1 Oct 2026Draft Prospectus/Draft Red Herring Prospectus30 Jan 2026In-principle XBRL30 Jan 2026Anchor Allocation ReportBidding CentersProcessing of ASBA ApplicationsRatios / Basis of Issue PriceRed Herring ProspectusSample Application FormsSecurity Parameters (Post Anchor)Security Parameters (Pre Anchor)