Bengaluru-headquartered IT solutions provider SRIT India has announced its maiden public issue for subscription on September 28, with shares priced in the band of ₹123-130 per share. According to reports from CNBC TV18, the company aims to raise ₹218.40 crore through the initial public offering and is seeking a valuation of ₹835.5 crore at the upper end of the price band. The IPO comprises an entirely fresh issue of 1.68 crore equity shares and will open its one-day anchor book for institutional investors on September 25. As per the latest reports, the company has executed more than 103 projects with a cumulative order value exceeding ₹1,235 crore over the last decade. The Hindu BusinessLine confirms that SRIT India is a leading Information Technology and IT-enabled services solutions company, with Choice Capital Advisors serving as the book-running lead manager and Kfin Technologies appointed as the registrar for the issue.
The SRIT India IPO has demonstrated strong institutional interest with ₹65.52 crore raised through its anchor book allocation to nine investors. According to CNBC TV18, Taurus Mutual Fund is the only domestic mutual fund in the anchor book, holding a 15.26% allocation at ₹130 per share. The anchor book is led by four equal-sized allottees — Abakkus Venture Opportunities Fund 2, Founders, Taurus Ethical Fund, and Saint Capital Fund — each receiving 15.26% of the anchor allocation. The IPO's grey-market premium (GMP) has shown exceptional momentum, rising to over 25% on Monday, according to platforms tracking grey market activities. Investorgain quoted a GMP of ₹12 for the shares, indicating a listing gain of 9.23 percent, while IPO Watch also quoted a GMP of around 9 percent. The IPO will remain open for subscription until September 30, with allotment expected to be finalised by October 1. Trading in SRIT India shares on the bourses is expected to commence on October 6.
As reported by CNBC TV18, SRIT India recorded revenue of ₹450 crore in the year ended March 2026, growing 15.6% from ₹389.3 crore in the previous year. The government segment contributed 89.41% of revenue in the last fiscal, while the enterprise segment contributed 10.59% to the topline. According to The Economic Times, the company's total income rose from ₹401 crore in FY25 to ₹463 crore in FY26, while profit after tax (PAT) increased from ₹34 crore to ₹43 crore during the same period. The company's order book stood at ₹1,205 crore as of June, providing strong revenue visibility for future operations. The shares are proposed to be listed on the NSE and BSE with a tentative listing date of October 6.
According to reports from CNBC TV18, the company intends to utilize ₹15.3 crore of the net issue proceeds for the modernisation of existing products and redevelopment, and ₹124 crore for its working capital requirements. The remaining funds will be utilized for inorganic growth through unidentified acquisitions and for general corporate purposes. As per The Economic Times, the total estimated utilisation of the net proceeds stands at ₹136.86 crore. The software solutions firm, which offers digital solutions and automation of systems, competes with listed peers like Allied Digital Services, Aurionpro Solutions, Mastek, and Protean eGov Technologies. As per The Hindu BusinessLine, the company designs, implements and operates digital platforms for Government entities and Enterprises in India and select overseas markets, with plans to strengthen its AI capabilities through AI-enabled solutions across its core verticals.
The SRIT India IPO is structured with specific lot sizes for different investor categories. Retail investors need to bid for a minimum of one lot comprising 115 shares, amounting to a minimum investment of ₹14,950 at the upper end of the price band. The maximum number of lots retail applicants can bid for is 13. For high net-worth investors, the lower cap is set at 14 lots and the upper limit is 33 lots, amounting to an investment of ₹4,93,350. The company's grey-market premium (GMP) is currently trading at ₹33 or 25.38%, indicating a listing price of ₹163 based on the upper end of the price band. However, GMP is an unofficial metric to guess the listing price and is highly vulnerable to market volatility.
