SRIT India IPO – Company Analysis
SRIT India IPO is a mainboard issue of Rs. 218.40 Cr (1.68 crore shares) by SRIT India Limited, which 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. The Company also provides configurable and customised solutions that can be integrated with third-party platforms and has commenced developing AI-enabled solutions across its key verticals.
In the last decade, the Company has executed more than 103 projects with an aggregate order value of approximately ₹12,347.16 million for Government and Enterprise customers. Its projects include healthcare platforms, nationwide banking connectivity, state-wide fibre networks, AI-driven traffic management and power transformer monitoring solutions. The Company has a presence across multiple Indian states and also operates internationally through its Qatar operations.
SRIT India IPO Details
The SRIT India IPO date is from Sep 28 to Sep 30, with IPO allotment on Oct 01, refund initiation on Oct 05, 2026. SRIT India IPO listing date is Oct 06, 2026. SRIT India IPO price is Rs. 123 to Rs. 130.
|
Event |
Date |
|
IPO Open Date |
September 28, 2026 |
|
IPO Close Date |
September 30, 2026 |
|
IPO Allotment Date |
October 01, 2026 |
|
Refunds / Credit of Shares |
October 05, 2026 |
|
IPO Listing Date |
October 06, 2026 |
|
Issue Type |
Book Built Issue |
|
IPO Price Band |
Rs. 123 to Rs. 130 |
|
Minimum Investment (Retail) |
Rs. 14,950 (115 Shares) |
|
Listing At |
BSE, NSE |
If you want to apply for the IPO, click to open a Demat Account.
Industry Overview
The graph showcases the historical growth trend of the Indian IT-BPM industry from FY 2018 to the projected FY 2026, highlighting consistent year-on-year expansion. The industry's revenue grew from USD 167.0 billion in FY 2018 to USD 254.0 billion in FY 2024.
Company Financial
(Amount in Cr)
|
Period |
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 & Surplus |
169.54 |
72.93 |
53.52 |
|
Total Borrowing |
36.15 |
51.30 |
22.28 |
SRIT India Business Model
The company operates across three main verticals. Revenue comes from project-based contracts (turnkey/system integration), product licensing, customization, implementation, and ongoing operations & maintenance (O&M)/managed services. Most revenue is bundled (products + services).
How the Company Makes Money
- Project / Turnkey Contracts (majority) – Competitive bidding for large government tenders. Scope includes design, software development/customization, system integration, hardware supply (where needed), installation, training, and go-live. Paid on milestones or percentage-of-completion.
- Product Licensing & Deployment – Proprietary software suites (RHES, RConverge, PlanPermit, etc.) sold as full suite or modules, often with customization.
- Managed Services / Operations & Maintenance (O&M) – Multi-year contracts for running systems, networks, billing platforms, etc. Includes 24×7 support.
- SaaS / Revenue-Share Models – Especially for RConverge (broadband) – hosted platform with revenue sharing linked to subscriber revenues (e.g., with RailTel).
- AI & Emerging Tech Add-ons – Video analytics (traffic enforcement), voice bots, fraud detection, transformer monitoring, etc., increasingly embedded in projects.
- Other – Cybersecurity, cloud licensing, third-party product integration, international projects (e.g., National Health Insurance System in Qatar).
Revenue Bifurcation
The Objective of the Issue
-
Funding of capital expenditure requirements towards modernization of existing products and redevelopment. ~ Rs. 12.86 Cr.
-
Funding working capital requirements of the Company. ~ Rs. 124 Cr.
-
General Corporate Purposes.
SRIT India IPO Valuation
|
KPI |
As on March 31, 2026 |
|
ROE |
30.23% |
|
ROCE |
28.79% |
|
Debt/Equity |
0.23 |
|
RoNW |
30.23% |
|
PAT Margin |
9.62% |
|
EBITDA Margin |
14.39% |
SRIT India IPO Allotment Status
Investors can check SRIT India IPO allotment status using the registrar, Kfin Technologies Ltd. or using the BSE website- BSE IPO allotment status.
IPO Strengths
-
Strong financial performance.
-
Growing capabilities in AI-enabled solutions.
-
Diversified presence across three key verticals.
-
Experienced Promoters and Senior Management team.
IPO Weaknesses
-
A majority of the company's projects are awarded through competitive bidding. Failure to qualify for, win, or complete new contracts could adversely affect its business, financial condition, operating results, growth prospects and cash flows.
-
Government 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.
-
The 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.
SRIT India IPO GMP
The SRIT India IPO GMP today is Rs. 12 as of 24 Sep 2026, while writing this information.
SRIT India IPO Review: Subscribe or Avoid?
SRIT India is a 26-year-old IT/ITeS firm delivering digital platforms, system integration and managed services mainly to government clients across healthcare, e-governance and telecom/broadband verticals.
Revenue and profits have grown steadily with healthy margins, low leverage and a sizeable order book, though the business remains heavily dependent on competitive government tenders and a concentrated client base.
Before making any decision to subscribe or avoid, you should consult your SEBI-registered financial advisor.
SRIT India IPO News
SRIT India IPO Allotment Status
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Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.
